Actuant Corporation (NYSE:ATU) Receives Average Rating of “Hold” from Brokerages
Actuant Corporation (NYSE:ATU) has been given an average rating of “Hold” by the fifteen brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $26.00.
A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada restated a “hold” rating and issued a $28.00 price target on shares of Actuant Corporation in a research report on Tuesday, June 6th. Zacks Investment Research downgraded shares of Actuant Corporation from a “hold” rating to a “sell” rating in a research report on Monday, June 12th. Wolfe Research initiated coverage on shares of Actuant Corporation in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. BidaskClub downgraded shares of Actuant Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, J P Morgan Chase & Co upgraded shares of Actuant Corporation from an “underweight” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $21.00 in a research report on Wednesday, June 21st.
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Institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd bought a new position in Actuant Corporation during the fourth quarter valued at approximately $238,000. Comerica Bank boosted its position in Actuant Corporation by 9.7% in the first quarter. Comerica Bank now owns 203,186 shares of the industrial products company’s stock valued at $5,557,000 after buying an additional 17,936 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Actuant Corporation by 5.1% in the first quarter. Ameriprise Financial Inc. now owns 312,140 shares of the industrial products company’s stock valued at $8,224,000 after buying an additional 15,097 shares during the last quarter. FMR LLC bought a new position in Actuant Corporation during the fourth quarter valued at approximately $5,642,000. Finally, OppenheimerFunds Inc. boosted its position in Actuant Corporation by 16.9% in the first quarter. OppenheimerFunds Inc. now owns 30,002 shares of the industrial products company’s stock valued at $791,000 after buying an additional 4,338 shares during the last quarter.
Actuant Corporation (NYSE:ATU) traded down 0.65% on Friday, reaching $23.10. 159,585 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $24.24 and its 200 day moving average price is $25.82. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 27.50 and a beta of 1.61. Actuant Corporation has a 1-year low of $20.54 and a 1-year high of $29.80.
Actuant Corporation (NYSE:ATU) last posted its quarterly earnings results on Wednesday, June 21st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. Actuant Corporation had a net margin of 4.56% and a return on equity of 10.58%. The company had revenue of $295.40 million for the quarter, compared to the consensus estimate of $294 million. During the same period last year, the firm posted $0.40 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts expect that Actuant Corporation will post $0.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.04 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.16 annualized dividend and a yield of 0.69%. Actuant Corporation’s payout ratio is 4.88%.
About Actuant Corporation
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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