Actuant Corporation (ATU) Rating Reiterated by SunTrust Banks, Inc.
Actuant Corporation (NYSE:ATU)‘s stock had its “hold” rating restated by investment analysts at SunTrust Banks, Inc. in a research note issued on Monday. They currently have a $23.00 price objective on the industrial products company’s stock. SunTrust Banks, Inc.’s target price indicates a potential downside of 10.16% from the company’s current price. SunTrust Banks also issued estimates for Actuant Corporation’s Q1 2018 earnings at $0.18 EPS, Q2 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.32 EPS, FY2018 earnings at $1.09 EPS, Q1 2019 earnings at $0.29 EPS, Q3 2019 earnings at $0.47 EPS, Q4 2019 earnings at $0.39 EPS and FY2019 earnings at $1.42 EPS.
Several other research analysts have also recently issued reports on ATU. BMO Capital Markets reissued a “market perform” rating and set a $25.00 price target (up from $23.00) on shares of Actuant Corporation in a report on Saturday. Robert W. Baird lifted their price objective on Actuant Corporation from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday. KeyCorp reaffirmed a “buy” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Actuant Corporation in a report on Monday, September 18th. Zacks Investment Research raised Actuant Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, Wolfe Research cut Actuant Corporation from a “market perform” rating to an “underperform” rating in a research report on Monday, August 21st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. Actuant Corporation presently has a consensus rating of “Hold” and an average target price of $26.00.
Actuant Corporation (NYSE ATU) opened at 25.60 on Monday. The company has a 50-day moving average price of $24.07 and a 200-day moving average price of $25.26. Actuant Corporation has a 12-month low of $21.40 and a 12-month high of $29.80. The firm’s market cap is $1.53 billion.
Actuant Corporation (NYSE:ATU) last released its earnings results on Wednesday, September 27th. The industrial products company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). The firm had revenue of $275.70 million during the quarter, compared to analyst estimates of $265.33 million. Actuant Corporation had a positive return on equity of 9.43% and a negative net margin of 6.04%. The firm’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. On average, equities analysts predict that Actuant Corporation will post $0.01 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ATU. Bank of New York Mellon Corp increased its stake in Actuant Corporation by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 701,539 shares of the industrial products company’s stock valued at $17,258,000 after purchasing an additional 14,152 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in Actuant Corporation by 16.9% during the first quarter. OppenheimerFunds Inc. now owns 30,002 shares of the industrial products company’s stock worth $791,000 after purchasing an additional 4,338 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Actuant Corporation by 5.1% during the first quarter. Ameriprise Financial Inc. now owns 312,140 shares of the industrial products company’s stock worth $8,224,000 after purchasing an additional 15,097 shares during the last quarter. Vanguard Group Inc. boosted its position in Actuant Corporation by 6.2% during the first quarter. Vanguard Group Inc. now owns 5,127,270 shares of the industrial products company’s stock worth $135,104,000 after purchasing an additional 299,479 shares in the last quarter. Finally, Aperio Group LLC boosted its position in Actuant Corporation by 3.6% during the second quarter. Aperio Group LLC now owns 16,263 shares of the industrial products company’s stock worth $400,000 after purchasing an additional 560 shares in 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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