Jefferies Financial Group Upgrades AptarGroup (NYSE:ATR) to “Buy”

AptarGroup (NYSE:ATR) was upgraded by investment analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage presently has a $215.00 price target on the industrial products company’s stock, up from their previous price target of $155.00. Jefferies Financial Group’s price objective would indicate a potential upside of 27.43% from the company’s previous close.

Separately, Wells Fargo & Company increased their target price on AptarGroup from $163.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th.

AptarGroup Stock Up 0.9 %

Shares of NYSE:ATR opened at $168.72 on Monday. The company has a market cap of $11.18 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 3.29 and a beta of 0.58. AptarGroup has a 12 month low of $120.36 and a 12 month high of $169.65. The company has a current ratio of 1.36, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $153.35 and a 200 day moving average price of $147.57.

AptarGroup (NYSE:ATR) last posted its quarterly earnings data 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. AptarGroup had a return on equity of 15.13% and a net margin of 9.00%. The business had revenue of $910.10 million during the quarter, compared to analyst estimates of $930.15 million. During the same period last year, the company earned $1.23 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities research analysts predict that AptarGroup will post 5.36 earnings per share for the current year.

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

Insider Activity

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

Hedge Funds Weigh In On AptarGroup

Hedge funds have recently modified their holdings of the stock. Rise Advisors LLC acquired a new position in AptarGroup during the first quarter valued at $25,000. Blue Trust Inc. raised its position in AptarGroup by 281.0% during the second quarter. Blue Trust Inc. now owns 240 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 177 shares in the last quarter. UMB Bank n.a. boosted its position in AptarGroup by 446.5% in the 3rd quarter. UMB Bank n.a. now owns 235 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 192 shares in the last quarter. Gradient Investments LLC acquired a new stake in shares of AptarGroup during the 2nd quarter worth approximately $40,000. Finally, Versant Capital Management Inc grew its position in AptarGroup by 4,983.3% during the second quarter. Versant Capital Management Inc now owns 305 shares of the industrial products company’s stock valued at $43,000 after buying an additional 299 shares during the period. Institutional investors and hedge funds own 88.52% 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.