1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Capital Allocation
PREMIUM
After a periodic review of Aptar's valuation, we've raised our fair value estimate to $125 from $101 per share. The primary driver of the change is a more robust long-term growth outlook. Additionally, our near-term outlook now reflects faster growth in Aptar's pharmaceutical segment due to coronavirus vaccine tailwinds. Our narrow-moat rating remains unchanged.
AptarGroup is a leading global supplier of dispensing systems such as aerosol valves, pumps, and closures to the consumer goods and pharmaceutical markets. With the bulk of its annual net sales coming from Europe and the United States, Aptar aims to increase its presence in Asia and Latin America. Aptar's pharmaceutical division generates roughly one third of group sales but almost two thirds of group profits. We expect management to make more healthcare-related acquisitions in the coming years.
