BidaskClub Downgrades Actuant Corporation (ATU) to Strong Sell
Actuant Corporation (NYSE:ATU) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Wednesday.
ATU has been the topic of several other reports. Gabelli raised Actuant Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Wolfe Research began coverage on Actuant Corporation in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. Zacks Investment Research cut Actuant Corporation from a “hold” rating to a “sell” rating in a research report on Monday, June 12th. Barclays PLC raised Actuant Corporation from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective on the stock in a research report on Thursday, June 22nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $28.00 price objective on shares of Actuant Corporation in a research report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $27.00.
Actuant Corporation (NYSE:ATU) remained flat at $23.10 on Wednesday. The company had a trading volume of 149,775 shares. Actuant Corporation has a 52-week low of $20.54 and a 52-week high of $29.80. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 27.50 and a beta of 1.61. The company’s 50 day moving average price is $24.19 and its 200 day moving average price is $25.72.
Actuant Corporation (NYSE:ATU) last posted its earnings results on Wednesday, June 21st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The company had revenue of $295.40 million for the quarter, compared to analysts’ expectations of $294 million. Actuant Corporation had a return on equity of 10.58% and a net margin of 4.56%. Actuant Corporation’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. On average, analysts predict that Actuant Corporation will post $0.01 earnings per share for the current year.
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Several institutional investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC raised its position in Actuant Corporation by 2.2% in the fourth quarter. Teachers Advisors LLC now owns 95,406 shares of the industrial products company’s stock valued at $2,476,000 after buying an additional 2,094 shares during the last quarter. Bank of Montreal Can raised its position in Actuant Corporation by 16.0% in the first quarter. Bank of Montreal Can now owns 5,035 shares of the industrial products company’s stock valued at $132,000 after buying an additional 695 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Actuant Corporation by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 24,100 shares of the industrial products company’s stock valued at $635,000 after buying an additional 400 shares during the last quarter. Howe & Rusling Inc. acquired a new position in Actuant Corporation during the first quarter valued at about $179,000. Finally, State of Alaska Department of Revenue raised its position in Actuant Corporation by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 6,530 shares of the industrial products company’s stock valued at $172,000 after buying an additional 150 shares during the last quarter.
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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