Actuant Corporation (NYSE:ATU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.

According to Zacks, “Over the last one month, Actuant's shares have underperformed and look overvalued compared to the Zacks classified Machine-Tools & Related Products industry. Weaker upstream offshore sales, as well as weaker customer spending and maintenance activities are expected to weigh over the performance of Actuant's energy businesses in the upcoming quarters. Moreover, other headwinds such as sturdy industry rivalry, a stronger U.S. dollar or short-term costs associated with investments might hurt near-term results. Based on the existing market conditions, the company trimmed its fiscal third-quarter earnings outlook within the $0.30-$0.33 per share range, as against the prior range of $0.38-$0.43. Over the last 30 days, the Zacks Consensus Estimate for the stock moved south for both fiscal 2017 and 2018.”

Several other research firms also recently issued reports on ATU. Royal Bank Of Canada restated a “hold” rating and set a $28.00 price objective on shares of Actuant Corporation in a report on Tuesday, June 6th. Tudor Pickering initiated coverage on shares of Actuant Corporation in a report on Thursday, March 23rd. They issued a “hold” rating on the stock. BMO Capital Markets reiterated a “hold” rating and issued a $25.00 price target on shares of Actuant Corporation in a report on Wednesday, March 22nd. Finally, KeyCorp upgraded shares of Actuant Corporation from a “sector weight” rating to an “overweight” rating and set a $32.00 price target on the stock in a report on Friday, March 10th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $26.88.

Analyst Recommendations for Actuant Corporation (NYSE:ATU)

Shares of Actuant Corporation (NYSE:ATU) traded down 0.80% during mid-day trading on Monday, hitting $24.85. 460,457 shares of the stock were exchanged. The stock has a 50-day moving average price of $26.45 and a 200 day moving average price of $26.70. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 30.30 and a beta of 1.60. Actuant Corporation has a 52-week low of $20.54 and a 52-week high of $29.80.

Actuant Corporation (NYSE:ATU) last posted its quarterly earnings data on Wednesday, March 22nd. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Actuant Corporation had a net margin of 4.40% and a return on equity of 11.60%. The company had revenue of $258.90 million for the quarter, compared to analyst estimates of $250.31 million. During the same quarter last year, the company earned $0.07 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts expect that Actuant Corporation will post $0.02 earnings per share for the current year.

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In related news, VP Stephen Rennie sold 2,647 shares of the stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $25.20, for a total value of $66,704.40. Following the transaction, the vice president now owns 55,818 shares in the company, valued at approximately $1,406,613.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Ted Wozniak sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $25.64, for a total transaction of $25,640.00. Following the completion of the transaction, the vice president now owns 82,496 shares in the company, valued at approximately $2,115,197.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,147 shares of company stock worth $105,009. 4.00% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of ATU. Bank of Montreal Can boosted its stake in shares of Actuant Corporation 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. purchased a new stake in shares of Actuant Corporation during the first quarter worth approximately $134,000. State of Alaska Department of Revenue boosted its stake in shares of Actuant Corporation 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. purchased a new stake in shares of Actuant Corporation during the first quarter worth approximately $179,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Actuant Corporation 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.

Actuant Corporation 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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