Bank of America Securities analyst George Staphos maintained a Buy rating on AptarGroup (ATR – Research Report) yesterday and set a price target of $145.00.
George Staphos has given his Buy rating due to a combination of factors that indicate a positive outlook for AptarGroup’s financial performance. Notably, the company’s 3Q adjusted EPS of $1.39 was above the projected $1.29 by Bank of America and $1.27 by the Street. This performance exceeded the company’s own guidance range, which was between $1.23-1.31. Additionally, the adjusted EBIT of $130.7mn surpassed the estimate of $124.7mn, leading to an additional $0.07 per share. Despite some underperformance in the Beauty and Closures businesses, Staphos remains positive about trends in the Pharma sector and anticipates a favorable response to these results.
Staphos’ rating is further influenced by the company’s 4Q EPS guidance, which aligns with the Street’s expectations. With an EPS guidance of $1.06-$1.14, the company matches Bank of America’s estimate of $1.11 and the Street’s estimate of $1.10. In addition, AptarGroup anticipates continued growth in the Pharma sector, particularly in injectables and drug delivery systems. The company has also pointed out an improving business environment in North America for the Beauty and Closures segments. Lastly, AptarGroup has maintained its capex and D&A guidance, further reinforcing Staphos’ positive rating.
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AptarGroup (ATR) Company Description:
AptarGroup, Inc. develops manufactures and sales of consumer product dispensing systems. It operates through the following business segments: Beauty & Home, Pharma and Food & Beverage. The Beauty & Home segment primarily sells pumps, aerosol valves and accessories to the personal care and household markets and pumps and decorative components to the fragrance/cosmetic market. The Pharma segment supplies pumps and metered dose inhaler valves to the pharmaceutical market worldwide. The Food & Beverage segment sell dispensing and non-dispensing closures and, to a lesser degree, spray pumps and aerosol valves to the food and beverage markets. The company was founded in 1940 and is headquartered in Crystal Lake, IL.
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