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

According to Zacks, “Over the last three months, Actuant’s shares have underperformed and look overvalued compared to the industry. The company’s fourth-quarter fiscal 2017 earnings of 19 cents per share missed the Zacks Consensus Estimate by 9.5%. It also came in 36.7% lower than the year-ago tally. The downside was stemmed by significant operating loss incurred by the company’s Energy business. Actuant believes tepid upstream energy market conditions will continue to hurt its near-term results. However, Actuant expects that the solid Industrial and Engineered Solutions businesses will drive its near-term results. Moreover, the company’s ongoing portfolio reshaping initiatives, acquisitions and strategic business divestitures are anticipated to bolster its near-term results. Earnings estimates on the stock remained stable for both fiscal 2018 and fiscal 2019 in the last 60 days.”

Several other research firms have also recently issued reports on ATU. Robert W. Baird raised their price target on shares of Actuant from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, September 28th. KeyCorp reaffirmed a “buy” rating and set a $29.00 price target (up from $28.00) on shares of Actuant in a research note on Monday, September 18th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $24.00 price target on shares of Actuant in a research note on Wednesday, October 25th. SunTrust Banks reaffirmed a “hold” rating and set a $23.00 price target on shares of Actuant in a research note on Monday, October 2nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $25.00 price target (up from $23.00) on shares of Actuant in a research note on Saturday, September 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.00.

Shares of Actuant (NYSE:ATU) traded down $0.60 during midday trading on Wednesday, reaching $26.35. 326,800 shares of the company were exchanged, compared to its average volume of 475,760. The firm has a market cap of $1,580.00, a PE ratio of 32.87, a price-to-earnings-growth ratio of 2.67 and a beta of 1.65. Actuant has a 12-month low of $21.60 and a 12-month high of $29.80. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.33 and a current ratio of 1.71.

Actuant (NYSE:ATU) last issued its quarterly earnings data on Wednesday, September 27th. The industrial products company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). Actuant had a negative net margin of 6.04% and a positive return on equity of 9.43%. The business had revenue of $275.70 million during the quarter, compared to analyst estimates of $265.33 million. During the same period in the previous year, the company posted $0.30 earnings per share. Actuant’s revenue was up .0% on a year-over-year basis. analysts predict that Actuant will post 1.08 earnings per share for the current year.

In other news, VP Ted Wozniak sold 5,000 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $26.19, for a total transaction of $130,950.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Blair William & Co. IL raised its holdings in Actuant by 1.1% in the second quarter. Blair William & Co. IL now owns 10,305 shares of the industrial products company’s stock valued at $254,000 after buying an additional 109 shares during the period. US Bancorp DE raised its holdings in Actuant by 3.2% in the second quarter. US Bancorp DE now owns 6,173 shares of the industrial products company’s stock valued at $152,000 after buying an additional 190 shares during the period. Louisiana State Employees Retirement System raised its holdings in Actuant by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the industrial products company’s stock valued at $598,000 after buying an additional 200 shares during the period. Arizona State Retirement System raised its holdings in Actuant by 1.0% in the second quarter. Arizona State Retirement System now owns 31,145 shares of the industrial products company’s stock valued at $766,000 after buying an additional 300 shares during the period. Finally, Amalgamated Bank raised its holdings in Actuant by 4.0% in the second quarter. Amalgamated Bank now owns 8,183 shares of the industrial products company’s stock valued at $201,000 after buying an additional 314 shares during the period.

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About Actuant

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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