Actuant (NYSE: ATU) has recently received a number of price target changes and ratings updates:
- 3/24/2017 – Actuant was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Over the last one month, Actuant’s shares underperformed and also looks overvalued compared to the Zacks categorized Machine-Tools & Related Products industry. The company reported mixed second-quarter fiscal 2017 results. Quarterly adjusted earnings of $0.11 per share missed the Zacks Consensus Estimate, while revenues surpassed the same by 3.6%. The company is poised to grow on the back of bold restructuring moves, new investments and favorable industrial market conditions. However, challenging conditions prevailing in the oil and gas market remain a major setback. The company narrowed its adjusted earnings guidance and reaffirmed revenue guidance for fiscal 2017.”
- 3/23/2017 – Actuant is now covered by analysts at Tudor Pickering. They set a “hold” rating on the stock.
- 3/23/2017 – Actuant had its “hold” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $28.00 price target on the stock.
- 3/22/2017 – Actuant had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $25.00 price target on the stock.
- 3/10/2017 – Actuant was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating. They now have a $32.00 price target on the stock.
- 2/21/2017 – Actuant was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Over the last three months, Actuant’s shares underperformed the Zacks categorized Machine-Tools & Related Products industry. Lower energy market investments, a stronger U.S. dollar and sudden fall in market demand share due to industry rivalry might hurt revenues and profitability in the quarters ahead. However, the company is poised to grow on the back of meaningful acquisitions, lucrative restructuring actions and greater innovation investments. Notably, the company has also raised its adjusted earnings guidance for fiscal 2017. Over the last 60 days, the Zacks Consensus Estimate for the stock has remained unchanged for both fiscal 2017 and 2018.”
- 1/31/2017 – Actuant was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating.
Shares of Actuant Co. (NYSE:ATU) traded down 3.09% on Monday, reaching $25.10. 583,527 shares of the company’s stock traded hands. The firm has a market cap of $1.49 billion, a P/E ratio of 30.61 and a beta of 1.57. The company’s 50-day moving average price is $27.14 and its 200 day moving average price is $25.49. Actuant Co. has a one year low of $20.54 and a one year high of $29.80.
Actuant (NYSE:ATU) last posted its quarterly earnings data on Wednesday, March 22nd. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The firm earned $258.90 million during the quarter, compared to analysts’ expectations of $250.31 million. Actuant had a negative net margin of 10.42% and a positive return on equity of 12.92%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. On average, equities analysts forecast that Actuant Co. will post ($0.01) EPS for the current fiscal year.
In other news, Director Thomas J. Fischer sold 8,000 shares of the stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $26.92, for a total transaction of $215,360.00. Following the completion of the transaction, the director now directly owns 25,373 shares of the company’s stock, valued at approximately $683,041.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert C. Arzbaecher sold 183,865 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $26.36, for a total transaction of $4,846,681.40. Following the transaction, the director now directly owns 422,187 shares of the company’s stock, valued at $11,128,849.32. The disclosure for this sale can be found here. Insiders have sold a total of 228,104 shares of company stock valued at $6,022,946 over the last three months. 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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