Analysts Set Expectations for Actuant Corp.’s Q2 2017 Earnings (ATU)
Actuant Corp. (NYSE:ATU) – SunTrust Banks decreased their Q2 2017 EPS estimates for shares of Actuant Corp. in a research note issued to investors on Monday. SunTrust Banks analyst C. Brady now forecasts that the brokerage will earn $0.14 per share for the quarter, down from their previous estimate of $0.15. SunTrust Banks also issued estimates for Actuant Corp.’s Q3 2017 earnings at $0.39 EPS, Q4 2017 earnings at $0.27 EPS, FY2017 earnings at $0.97 EPS, Q1 2018 earnings at $0.22 EPS, Q2 2018 earnings at $0.21 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.37 EPS and FY2018 earnings at $1.28 EPS.
Actuant Corp. (NYSE:ATU) last released its earnings results on Wednesday, September 28th. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. The company earned $275.77 million during the quarter. Actuant Corp. had a positive return on equity of 13.22% and a negative net margin of 9.15%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS.
A number of other analysts have also recently commented on the company. Wells Fargo & Co. reiterated an “outperform” rating on shares of Actuant Corp. in a research report on Friday, June 24th. Zacks Investment Research upgraded Actuant Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. Barclays PLC restated an “equal weight” rating and issued a $20.00 price target on shares of Actuant Corp. in a research report on Tuesday, July 12th. TheStreet cut Actuant Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 28th. Finally, JPMorgan Chase & Co. cut Actuant Corp. from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $25.00 to $20.00 in a research report on Wednesday, June 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. Actuant Corp. presently has an average rating of “Hold” and a consensus target price of $23.67.
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Actuant Corp. (NYSE:ATU) traded up 0.40% during mid-day trading on Tuesday, reaching $22.36. The company had a trading volume of 227,622 shares. The company’s market capitalization is $1.32 billion. Actuant Corp. has a 1-year low of $20.49 and a 1-year high of $27.71. The firm has a 50-day moving average of $22.89 and a 200 day moving average of $24.42.
In other news, CEO Randal W. Baker purchased 15,000 shares of the company’s stock in a transaction that occurred on Thursday, October 13th. The stock was bought at an average cost of $22.30 per share, with a total value of $334,500.00. Following the completion of the purchase, the chief executive officer now owns 94,376 shares in the company, valued at $2,104,584.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Randal W. Baker purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 11th. The shares were purchased at an average cost of $22.55 per share, with a total value of $225,500.00. Following the completion of the purchase, the chief executive officer now owns 79,376 shares of the company’s stock, valued at approximately $1,789,928.80. The disclosure for this purchase can be found here. Corporate insiders own 3.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Contravisory Investment Management Inc. purchased a new position in shares of Actuant Corp. during the second quarter worth approximately $122,000. BNP Paribas Arbitrage SA raised its position in shares of Actuant Corp. by 92.1% in the second quarter. BNP Paribas Arbitrage SA now owns 20,051 shares of the company’s stock worth $453,000 after buying an additional 9,613 shares during the last quarter. Boothbay Fund Management LLC raised its position in shares of Actuant Corp. by 53.5% in the first quarter. Boothbay Fund Management LLC now owns 21,612 shares of the company’s stock worth $534,000 after buying an additional 7,530 shares during the last quarter. First Republic Investment Management Inc. purchased a new position in shares of Actuant Corp. during the first quarter worth approximately $546,000. Finally, Invictus RG raised its position in shares of Actuant Corp. by 45.1% in the first quarter. Invictus RG now owns 18,844 shares of the company’s stock worth $466,000 after buying an additional 5,855 shares during the last quarter.
Actuant Corp. Company Profile
Actuant Corporation designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company operates through three segments: Industrial, Energy and Engineered Solutions. The Company’s Industrial segment is primarily involved in the design, manufacture and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure and production automation markets.
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