AptarGroup (NYSE:ATR) Releases Q4 Earnings Guidance

AptarGroup (NYSE:ATR) updated its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.22-1.30 for the period, compared to the consensus estimate of $1.31. AptarGroup also updated its FY 2024 guidance to 5.340-5.420 EPS.

AptarGroup Price Performance

NYSE ATR traded down $1.24 during mid-day trading on Thursday, hitting $166.41. The stock had a trading volume of 547,277 shares, compared to its average volume of 291,544. The company has a 50 day simple moving average of $156.49 and a 200 day simple moving average of $148.72. The company has a market cap of $11.03 billion, a price-to-earnings ratio of 35.71, a P/E/G ratio of 3.29 and a beta of 0.58. AptarGroup has a 52-week low of $120.36 and a 52-week high of $169.65. The company has a quick ratio of 0.95, a current ratio of 1.36 and a debt-to-equity ratio of 0.28.

AptarGroup (NYSE:ATR) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.01. The business had revenue of $910.10 million during the quarter, compared to analysts’ expectations of $930.15 million. AptarGroup had a return on equity of 15.13% and a net margin of 9.00%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $1.23 earnings per share. Equities analysts forecast that AptarGroup will post 5.36 EPS for the current fiscal year.

AptarGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 24th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $1.80 dividend on an annualized basis and a yield of 1.08%. AptarGroup’s payout ratio is 38.63%.

AptarGroup declared that its Board of Directors has initiated a share repurchase program on Thursday, October 10th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to buy up to 4.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on ATR. Jefferies Financial Group upgraded shares of AptarGroup from a “hold” rating to a “buy” rating and increased their price target for the company from $155.00 to $215.00 in a research report on Monday, October 14th. Dbs Bank raised AptarGroup from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price target on AptarGroup from $168.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $190.00.

Insider Activity at AptarGroup

In other AptarGroup news, CEO Stephan B. Tanda sold 32,000 shares of AptarGroup stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $147.56, for a total value of $4,721,920.00. Following the completion of the sale, the chief executive officer now directly owns 174,118 shares of the company’s stock, valued at approximately $25,692,852.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AptarGroup news, CEO Stephan B. Tanda sold 32,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $147.56, for a total value of $4,721,920.00. Following the sale, the chief executive officer now directly owns 174,118 shares of the company’s stock, valued at approximately $25,692,852.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gael Touya sold 3,300 shares of AptarGroup stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.62, for a total value of $500,346.00. Following the completion of the sale, the insider now owns 32,165 shares of the company’s stock, valued at $4,876,857.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,457 shares of company stock valued at $7,314,030. Company insiders own 1.00% of the company’s stock.

About AptarGroup

AptarGroup, Inc designs and manufactures a range of drug delivery, consumer product dispensing, and active material science solutions and services for the pharmaceutical, beauty, personal care, home care, and food and beverage markets. The company operates through Aptar Pharma, Aptar Beauty, and Aptar Closures segments.