KeyCorp Reaffirms “Buy” Rating for Actuant Corporation (ATU)
KeyCorp restated their buy rating on shares of Actuant Corporation (NYSE:ATU) in a report published on Monday morning. KeyCorp currently has a $29.00 price objective on the industrial products company’s stock, up from their previous price objective of $28.00. KeyCorp also issued estimates for Actuant Corporation’s FY2019 earnings at $1.45 EPS.
Several other research firms have also recently issued reports on ATU. BidaskClub cut Actuant Corporation from a sell rating to a strong sell rating in a research report on Wednesday, August 16th. J P Morgan Chase & Co raised Actuant Corporation from an underweight rating to a neutral rating and lowered their price objective for the stock from $23.00 to $21.00 in a research report on Wednesday, June 21st. BMO Capital Markets upped their price objective on Actuant Corporation from $22.00 to $23.00 and gave the stock a market perform rating in a research report on Friday, August 18th. Stifel Nicolaus lowered their price objective on Actuant Corporation from $28.00 to $26.00 and set a hold rating for the company 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 analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $26.44.
Shares of Actuant Corporation (NYSE:ATU) opened at 26.55 on Monday. Actuant Corporation has a one year low of $20.54 and a one year high of $29.80. The firm has a 50-day moving average price of $24.07 and a 200 day moving average price of $25.26. The firm has a market cap of $1.58 billion, a P/E ratio of 31.61 and a beta of 1.61.
Actuant Corporation (NYSE:ATU) last released its quarterly earnings data 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 business had revenue of $295.40 million during the quarter, compared to analysts’ expectations of $294.00 million. Actuant Corporation had a return on equity of 10.58% and a net margin of 4.56%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 EPS. On average, analysts forecast that Actuant Corporation will post $0.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.60%. Actuant Corporation’s dividend payout ratio (DPR) is presently 4.88%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacad Investment Ltd. boosted its position in shares of Actuant Corporation by 30.3% in the 2nd quarter. Pacad Investment Ltd. now owns 5,080 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 1,180 shares during the period. Bank of Montreal Can boosted its position in shares of Actuant Corporation by 16.0% in the 1st quarter. Bank of Montreal Can now owns 5,035 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 695 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in Actuant Corporation during the 1st quarter worth approximately $134,000. US Bancorp DE lifted its position in Actuant Corporation by 3.2% during the 2nd quarter. US Bancorp DE now owns 6,173 shares of the industrial products company’s stock worth $152,000 after acquiring an additional 190 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in Actuant Corporation by 6.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 7,104 shares of the industrial products company’s stock worth $187,000 after acquiring an additional 420 shares during the period.
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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