Actuant Corp. Rating Reiterated by Zacks (ATU)
Actuant Corp. (NYSE:ATU)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Friday, AnalystRatingsNetwork.com reports. They currently have a $38.00 price objective on the stock. Zacks‘ target price would suggest a potential upside of 4.86% from the company’s current price.
Zacks‘ analyst wrote, “Actuant reported strong first-quarter fiscal 2014 results, with adjusted earnings per share and revenues increasing 7.3% and 10.3% year over year, respectively. While core sales contributed 5% to revenues, acquisitions accounted for a 6% rise. However, revenues were partially offset by a 1% negative foreign currency transaction impact. The company’s Engineering Solutions segment registered strong year-over-year growth of 15% in the reported quarter, with positive revenue growth at the Energy and Industrial segments. Actuant also has a strong balance sheet and its efforts to reduce outstanding shares are expected to boost earnings per share in the upcoming quarters. However, the company’s strategic acquisitions also pose certain integration risks. Moreover, presence in various countries exposes Actuant to various geo-political risks. Based on these factors, we maintain our Neutral recommendation on the stock.”
In other Actuant Corp. news, CEO Robert Arzbaecher unloaded 106,212 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $36.50, for a total transaction of $3,876,738.00. Following the transaction, the chief executive officer now directly owns 299,382 shares of the company’s stock, valued at approximately $10,927,443. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Separately, analysts at RBC Capital raised their price target on shares of Actuant Corp. from $39.00 to $41.00 in a research note to investors on Tuesday, October 8th. They now have a “sector perform” rating on the stock. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $36.41.
Actuant Corp. (NYSE:ATU) traded down 0.14% during mid-day trading on Friday, hitting $36.19. 181,031 shares of the company’s stock traded hands. Actuant Corp. has a 52 week low of $27.99 and a 52 week high of $39.84. The stock has a 50-day moving average of $37. and a 200-day moving average of $36.82. The company has a market cap of $2.645 billion and a P/E ratio of 90.60.
Actuant Corp. (NYSE:ATU) last released its earnings data on Thursday, December 19th. The company reported $0.44 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.46 by $0.02. The company had revenue of $340.00 million for the quarter, compared to the consensus estimate of $334.82 million. During the same quarter last year, the company posted $0.49 earnings per share. Actuant Corp.’s revenue was up 10.3% compared to the same quarter last year. Analysts expect that Actuant Corp. will post $2.03 EPS for the current fiscal year.
Actuant Corporation designs, manufactures and distributes a range of industrial products and systems to various end markets.
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