Actuant Corp. (NYSE:ATU) Given Average Rating of “Hold” by Analysts
Shares of Actuant Corp. (NYSE:ATU) have been assigned a consensus rating of “Hold” from the thirteen analysts that are covering the company. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $23.13.
Several brokerages have recently commented on ATU. Royal Bank Of Canada reduced their target price on Actuant Corp. from $30.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, June 23rd. Zacks Investment Research lowered Actuant Corp. from a “hold” rating to a “sell” rating in a research report on Friday, September 2nd. Topeka Capital Markets assumed coverage on Actuant Corp. in a research report on Thursday, May 26th. They set a “hold” rating and a $26.00 price target on the stock. Wells Fargo & Co. reissued an “outperform” rating on shares of Actuant Corp. in a research report on Friday, June 24th. Finally, JPMorgan Chase & Co. lowered Actuant Corp. from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $25.00 to $20.00 in a research report on Wednesday, June 22nd.
Actuant Corp. (NYSE:ATU) traded up 1.04% during trading on Wednesday, reaching $22.35. The company had a trading volume of 257,397 shares. The stock has a 50 day moving average of $23.55 and a 200-day moving average of $24.60. The company’s market capitalization is $1.32 billion. Actuant Corp. has a 12 month low of $17.02 and a 12 month high of $27.71.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/actuant-corp-nyseatu-given-average-rating-of-hold-by-analysts.html
Actuant Corp. (NYSE:ATU) last announced its earnings results on Wednesday, June 22nd. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. Actuant Corp. had a positive return on equity of 13.05% and a negative net margin of 8.56%. The business earned $305.30 million during the quarter. During the same period in the prior year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. Equities research analysts expect that Actuant Corp. will post ($0.01) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.72%. The ex-dividend date is Wednesday, September 28th. Actuant Corp.’s payout ratio is currently -2.34%.
In other news, CEO Randal W. Baker bought 10,795 shares of the company’s stock in a transaction on Monday, July 11th. The shares were bought at an average cost of $23.14 per share, with a total value of $249,796.30. Following the transaction, the chief executive officer now directly owns 63,979 shares in the company, valued at approximately $1,480,474.06. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. raised its position in shares of Actuant Corp. by 20.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,876,283 shares of the company’s stock valued at $110,253,000 after buying an additional 811,365 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Actuant Corp. by 61.9% in the second quarter. Frontier Capital Management Co. LLC now owns 1,121,899 shares of the company’s stock worth $25,366,000 after buying an additional 429,027 shares in the last quarter. Penn Capital Management Co. Inc. bought a new position in shares of Actuant Corp. during the second quarter worth approximately $6,653,000. Vanguard Group Inc. raised its position in shares of Actuant Corp. by 6.6% in the second quarter. Vanguard Group Inc. now owns 4,445,392 shares of the company’s stock worth $100,510,000 after buying an additional 273,973 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Actuant Corp. by 301.8% in the second quarter. Alliancebernstein L.P. now owns 345,337 shares of the company’s stock worth $7,808,000 after buying an additional 259,393 shares in the last quarter.
About Actuant Corp.
Actuant Corporation is a global diversified company that designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company is organized into three operating segments: Industrial, Energy and Engineered Solutions. The Industrial segment is involved in the design, manufacture and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure and production automation markets.
Receive News & Ratings for Actuant Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Actuant Corp. and related companies with MarketBeat.com's FREE daily email newsletter.