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AptarGroup Hits 52-Week High: What's Driving the Stock's Performance?
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Shares of AptarGroup, Inc. (ATR - Free Report) scaled a new 52-week high of $152.67 on Tuesday before ending the session at $150.16. The increase was fueled by ATR’s strong second-quarter results.
AptarGroup currently has a market capitalization of $10 billion and a Zacks Rank #2 (Buy).
What’s Aiding ATR’s Price Performance?
Solid 2Q24 Results: ATR reported second-quarter 2024 adjusted earnings per share of $1.37, beating the Zacks Consensus Estimate of $1.36. The bottom line increased 12% year over year from $1.22 (including comparable exchange rates).
Total revenues rose 1.6% year over year to $910 million in the reported quarter. Core sales, excluding currency and acquisition effects, improved 3% year over year. The upside was driven by the solid performance in the Pharma segment.
Focus on Business Transformation: AptarGroup has been focused on business transformation plans to drive top-line growth, boost operational excellence, enhance its approach to innovation and improve organizational effectiveness. The company has primarily been focusing on transforming its Beauty segment, adding capabilities in Asia, implementing the latest commercial strategies, reducing costs and capitalizing on the fast-growing application fields.
The company’s cost-control measures and pricing actions will help sustain margins in the upcoming quarters. Furthermore, it improves the bottom line by capturing efficiencies and streamlining operations.
Healthy Demand & Growth: The Pharma segment is witnessing healthy demand for its proprietary dispensing devices. Demand for elastomeric components used for biologics continues to be strong.
The Beauty segment is also seeing higher sales in prestige and mass fragrances, along with sales growth of skin care and color cosmetic solutions. A positive mix of pricing and volume growth will further aid the segment’s revenues. Both beauty and closures segments are expected to witness a recovery in the North America market this year.
Innovative Product Launches: AptarGroup is poised to gain from innovative product launches and continues to be the preferred choice for renowned brands worldwide.
On Aug. 15, 2024, the firm stated that it reached a milestone with the FDA approval of neffy , a needle-free epinephrine nasal spray for the emergency treatment of severe allergic responses. Aptar Pharma's Unidose Liquid System is the approved delivery system for neffy, making it the first time when nasally-delivered epinephrine has received global regulatory approval. This will drive growth and strengthen the company's footprint in the pharmaceutical business, resulting in a high return on investment for shareholders.
AptarGroup Price Performance
ATR shares have gained 17.5% in the past year compared with the industry’s growth of 20.9%.
The Zacks Consensus Estimate for Crane’s 2024 earnings is pegged at $5.07 per share. The consensus estimate for 2024 earnings has moved north by 6% in the past 60 days. The company has a trailing four-quarter average earnings surprise of 11.2%. CR shares have gained 75.2% in a year.
Flowserve has an average trailing four-quarter earnings surprise of 18.2%. The Zacks Consensus Estimate for FLS’s 2024 earnings is pinned at $2.76 per share, which indicates year-over-year growth of 31.6%. The consensus estimate for 2024 earnings has moved north by 4% in the past 60 days. The company’s shares have gained 27.5% in a year.
The Zacks Consensus Estimate for Cintas’ 2024 earnings is pegged at $16.64 per share. The consensus estimate for 2024 earnings has moved north by 1% in the past 60 days. The company has a trailing four-quarter average earnings surprise of 4%. CTAS shares have gained 60.4% in a year.
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AptarGroup Hits 52-Week High: What's Driving the Stock's Performance?
Shares of AptarGroup, Inc. (ATR - Free Report) scaled a new 52-week high of $152.67 on Tuesday before ending the session at $150.16. The increase was fueled by ATR’s strong second-quarter results.
AptarGroup currently has a market capitalization of $10 billion and a Zacks Rank #2 (Buy).
What’s Aiding ATR’s Price Performance?
Solid 2Q24 Results: ATR reported second-quarter 2024 adjusted earnings per share of $1.37, beating the Zacks Consensus Estimate of $1.36. The bottom line increased 12% year over year from $1.22 (including comparable exchange rates).
Total revenues rose 1.6% year over year to $910 million in the reported quarter. Core sales, excluding currency and acquisition effects, improved 3% year over year. The upside was driven by the solid performance in the Pharma segment.
Focus on Business Transformation: AptarGroup has been focused on business transformation plans to drive top-line growth, boost operational excellence, enhance its approach to innovation and improve organizational effectiveness. The company has primarily been focusing on transforming its Beauty segment, adding capabilities in Asia, implementing the latest commercial strategies, reducing costs and capitalizing on the fast-growing application fields.
The company’s cost-control measures and pricing actions will help sustain margins in the upcoming quarters.
Furthermore, it improves the bottom line by capturing efficiencies and streamlining operations.
Healthy Demand & Growth: The Pharma segment is witnessing healthy demand for its proprietary dispensing devices. Demand for elastomeric components used for biologics continues to be strong.
The Beauty segment is also seeing higher sales in prestige and mass fragrances, along with sales growth of skin care and color cosmetic solutions. A positive mix of pricing and volume growth will further aid the segment’s revenues. Both beauty and closures segments are expected to witness a recovery in the North America market this year.
Innovative Product Launches: AptarGroup is poised to gain from innovative product launches and continues to be the preferred choice for renowned brands worldwide.
On Aug. 15, 2024, the firm stated that it reached a milestone with the FDA approval of neffy , a needle-free epinephrine nasal spray for the emergency treatment of severe allergic responses. Aptar Pharma's Unidose Liquid System is the approved delivery system for neffy, making it the first time when nasally-delivered epinephrine has received global regulatory approval. This will drive growth and strengthen the company's footprint in the pharmaceutical business, resulting in a high return on investment for shareholders.
AptarGroup Price Performance
ATR shares have gained 17.5% in the past year compared with the industry’s growth of 20.9%.
Image Source: Zacks Investment Research
Other Key Picks
Some other top-ranked stocks from the Industrial Products sector are Crane Company (CR - Free Report) , Flowserve Corporation (FLS - Free Report) and Cintas Corporation (CTAS - Free Report) . These three companies have a Zacks Rank #2 at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Crane’s 2024 earnings is pegged at $5.07 per share. The consensus estimate for 2024 earnings has moved north by 6% in the past 60 days. The company has a trailing four-quarter average earnings surprise of 11.2%. CR shares have gained 75.2% in a year.
Flowserve has an average trailing four-quarter earnings surprise of 18.2%. The Zacks Consensus Estimate for FLS’s 2024 earnings is pinned at $2.76 per share, which indicates year-over-year growth of 31.6%. The consensus estimate for 2024 earnings has moved north by 4% in the past 60 days. The company’s shares have gained 27.5% in a year.
The Zacks Consensus Estimate for Cintas’ 2024 earnings is pegged at $16.64 per share. The consensus estimate for 2024 earnings has moved north by 1% in the past 60 days. The company has a trailing four-quarter average earnings surprise of 4%. CTAS shares have gained 60.4% in a year.