KeyBanc analyst Adam Josephson reiterated a Hold rating on AptarGroup (ATR) today. The company’s shares opened today at $112.27, close to its 52-week high of $114.66.
Josephson observed:
“We are raising our 2019 estimates to reflect the 1Q beat and 2Q guidance above our estimate, with the estimate increase entirely in Pharma. ATR’s Pharma business is the best of any company we follow, and the Company continues to have a solid balance sheet. As ever, valuation looks high, at a ~1.5-2.0% free cash flow yield on our 2019 estimate. We are raising our 2019 adj. estimate from $4.02 to $4.22 (consensus is $4.30) and our 2020 estimate from $4.03 to $4.23 (consensus is $4.80), with all the upward revisions coming in Pharma. We expect the Pharma business to continue to thrive irrespective of the macro environment; we have more concerns about ATR’s Beauty + Home business in the event of a meaningful downturn, particularly given the operational difficulties that Beauty + Home has had on occasion during favorable macro environments.”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 8.0% and a 64.4% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for AptarGroup with a $110.50 average price target, implying a -1.6% downside from current levels. In a report released today, UBS also maintained a Hold rating on the stock with a $106 price target.
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The company has a one-year high of $114.66 and a one-year low of $88.26. Currently, AptarGroup has an average volume of 219.4K.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock.
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AptarGroup, Inc. develops, manufactures and sales of consumer product dispensing systems. It operates through the following business segments : Beauty & Home, Pharma, and Food & Beverage.
