AptarGroup (NYSE:ATR) Issues Q4 Earnings Guidance

AptarGroup (NYSE:ATR) updated its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (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 up $2.39 during mid-day trading on Friday, reaching $168.94. The stock had a trading volume of 518,947 shares, compared to its average volume of 292,642. The stock has a market capitalization of $11.19 billion, a P/E ratio of 36.25, a P/E/G ratio of 3.29 and a beta of 0.58. The firm has a 50 day moving average price of $156.93 and a two-hundred day moving average price of $148.92. AptarGroup has a one year low of $120.36 and a one year high of $169.85. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.36.

AptarGroup (NYSE:ATR) last posted its earnings results on Thursday, July 25th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.01. The firm had revenue of $910.10 million for 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 was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.23 earnings per share. As a group, analysts expect that AptarGroup will post 5.36 earnings per share for the current year.

AptarGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders 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 dividend yield of 1.07%. AptarGroup’s dividend payout ratio is currently 38.63%.

AptarGroup declared that its board has authorized a share buyback plan on Thursday, October 10th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 4.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

ATR has been the topic of several recent analyst reports. Dbs Bank raised AptarGroup from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased their price target on AptarGroup from $168.00 to $185.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, Jefferies Financial Group raised AptarGroup from a “hold” rating to a “buy” rating and upped their target price for the company from $155.00 to $215.00 in a research note on Monday, October 14th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $190.00.

Insider Buying and Selling at AptarGroup

In related news, insider Xiangwei Gong sold 800 shares of AptarGroup stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $146.56, for a total value of $117,248.00. Following the sale, the insider now directly owns 20,174 shares in the company, valued at approximately $2,956,701.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Stephan B. Tanda sold 32,000 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $147.56, for a total transaction of $4,721,920.00. Following the sale, the chief executive officer now owns 174,118 shares of the company’s stock, valued at approximately $25,692,852.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Xiangwei Gong sold 800 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $146.56, for a total value of $117,248.00. Following the transaction, the insider now directly owns 20,174 shares of the company’s stock, valued at $2,956,701.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,457 shares of company stock worth $7,314,030. Insiders own 1.00% of the company’s stock.

AptarGroup Company Profile

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.