Actuant Co. (ATU) Given Consensus Rating of “Hold” by Brokerages
Actuant Co. (NYSE:ATU) has been given a consensus recommendation of “Hold” by the twelve brokerages that are presently covering the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $25.71.
A number of equities research analysts have recently weighed in on ATU shares. Robert W. Baird upgraded Actuant from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 31st. Zacks Investment Research downgraded Actuant from a “buy” rating to a “hold” rating in a report on Tuesday, February 21st. KeyCorp upgraded Actuant from a “sector weight” rating to an “overweight” rating and set a $32.00 price target for the company in a report on Friday, March 10th. BMO Capital Markets reiterated a “hold” rating and issued a $25.00 price target on shares of Actuant in a report on Wednesday, March 22nd. Finally, Tudor Pickering started coverage on Actuant in a report on Thursday, March 23rd. They issued a “hold” rating for the company.
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In related news, VP Stephen Rennie sold 2,647 shares of the company’s stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $25.20, for a total transaction of $66,704.40. Following the completion of the transaction, the vice president now directly owns 55,818 shares in the company, valued at approximately $1,406,613.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Ted Wozniak sold 1,000 shares of the company’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $25.64, for a total value of $25,640.00. Following the transaction, the vice president now owns 82,496 shares of the company’s stock, valued at $2,115,197.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,147 shares of company stock valued at $105,009. 4.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ATU. Bank of Montreal Can increased its position in shares of Actuant by 16.0% in the first quarter. Bank of Montreal Can now owns 5,035 shares of the industrial products company’s stock worth $132,000 after buying an additional 695 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Actuant during the first quarter worth approximately $134,000. State of Alaska Department of Revenue increased its position in shares of Actuant by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 6,530 shares of the industrial products company’s stock worth $172,000 after buying an additional 150 shares during the last quarter. Howe & Rusling Inc. bought a new position in shares of Actuant during the first quarter worth approximately $179,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of Actuant by 6.3% in the first quarter. Public Employees Retirement System of Ohio now owns 7,104 shares of the industrial products company’s stock worth $187,000 after buying an additional 420 shares during the last quarter.
Shares of Actuant (NYSE:ATU) traded down 0.098% during trading on Friday, reaching $25.525. 62,028 shares of the company’s stock traded hands. The company has a 50 day moving average price of $26.13 and a 200 day moving average price of $26.60. Actuant has a 1-year low of $20.54 and a 1-year high of $29.80. The stock has a market capitalization of $1.52 billion, a PE ratio of 31.128 and a beta of 1.57.
Actuant (NYSE:ATU) last issued its quarterly earnings results on Wednesday, March 22nd. The industrial products company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.01. Actuant had a negative net margin of 10.42% and a positive return on equity of 12.92%. The firm had revenue of $258.90 million during the quarter, compared to the consensus estimate of $250.31 million. During the same quarter last year, the firm posted $0.07 earnings per share. Actuant’s revenue was down 1.7% compared to the same quarter last year. On average, equities analysts forecast that Actuant will post $0.02 EPS for the current fiscal year.
Actuant 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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