AptarGroup downgraded to Market Perform from Outperform at William Blair

William Blair analyst Matt Larew downgraded AptarGroup (ATR) to Market Perform from Outperform without a price target The company reported “mixed” Q3 results and its Q4 earnings guidance was well below consensus, the analyst tells investors in a research note. The firm believes AptarGroup’s growth over at least the next three quarters “is likely to be muted,” with its profitability under pressure due to mix shift dynamics. Without a compression of the Narcan normalization timeline or improvement in beauty and closures, the stock setup “looks challenging over the next several quarters,” contends Blair.