Actuant Co. (NYSE:ATU) – Equities research analysts at Gabelli cut their FY2017 EPS estimates for shares of Actuant in a research report issued to clients and investors on Thursday. Gabelli analyst J. Bergner now expects that the brokerage will post earnings of $1.10 per share for the year, down from their previous estimate of $1.15.
A number of other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada cut shares of Actuant from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $29.00 to $27.00 in a report on Friday, January 13th. They noted that the move was a valuation call. Robert W. Baird raised shares of Actuant from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 31st. Zacks Investment Research cut shares of Actuant from a “buy” rating to a “hold” rating in a report on Tuesday, February 21st. BMO Capital Markets reissued a “hold” rating and set a $25.00 target price on shares of Actuant in a report on Wednesday, March 22nd. Finally, KeyCorp raised shares of Actuant from a “sector weight” rating to an “overweight” rating and set a $32.00 target price on the stock in a report on Friday, March 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $26.78.
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Actuant (NYSE:ATU) opened at 25.10 on Monday. Actuant has a 12 month low of $20.54 and a 12 month high of $29.80. The company’s 50-day moving average price is $27.09 and its 200 day moving average price is $25.52. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 30.61 and a beta of 1.57.
Actuant (NYSE:ATU) last announced its earnings results on Wednesday, March 22nd. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The company had revenue of $258.90 million for the quarter, compared to the consensus estimate of $250.31 million. Actuant had a positive return on equity of 12.92% and a negative net margin of 10.42%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 earnings per share.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATU. BlackRock Fund Advisors boosted its position in Actuant by 8.0% in the third quarter. BlackRock Fund Advisors now owns 4,205,310 shares of the company’s stock valued at $97,731,000 after buying an additional 312,272 shares during the last quarter. Clarkston Capital Partners LLC boosted its position in Actuant by 9.0% in the third quarter. Clarkston Capital Partners LLC now owns 2,154,175 shares of the company’s stock valued at $50,063,000 after buying an additional 177,875 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its position in Actuant by 42.6% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,555,296 shares of the company’s stock valued at $40,360,000 after buying an additional 464,380 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Actuant by 1.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,468,367 shares of the company’s stock valued at $34,125,000 after buying an additional 24,578 shares during the last quarter. Finally, State Street Corp boosted its position in Actuant by 7.9% in the fourth quarter. State Street Corp now owns 1,342,550 shares of the company’s stock valued at $34,841,000 after buying an additional 98,361 shares during the last quarter.
In other news, VP Ted Wozniak sold 15,000 shares of the company’s stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $26.48, for a total value of $397,200.00. Following the transaction, the vice president now owns 90,220 shares of the company’s stock, valued at $2,389,025.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Eugene Edward Skogg sold 4,339 shares of the company’s stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $26.60, for a total transaction of $115,417.40. Following the completion of the transaction, the executive vice president now directly owns 103,652 shares in the company, valued at approximately $2,757,143.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 208,204 shares of company stock worth $5,489,499. Insiders own 4.00% of the company’s stock.
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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