Zacks Investment Research Lowers Actuant (ATU) to Hold

Zacks Investment Research downgraded shares of Actuant (NYSE:ATU) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Over the last three months, Actuant’s shares have underperformed and look overvalued compared to the industry. The company’s fourth-quarter fiscal 2017 earnings of 19 cents per share missed the Zacks Consensus Estimate by 9.5%. It also came in 36.7% lower than the year-ago tally. The downside was stemmed by significant operating loss incurred by the company’s Energy business. Actuant believes tepid upstream energy market conditions will continue to hurt its near-term results. However, Actuant expects that the solid Industrial and Engineered Solutions businesses will drive its near-term results. Moreover, the company’s ongoing portfolio reshaping initiatives, acquisitions and strategic business divestitures are anticipated to bolster its near-term results. Earnings estimates on the stock remained stable for both fiscal 2018 and fiscal 2019 in the last 60 days.”

A number of other equities research analysts have also recently commented on ATU. BidaskClub cut shares of Actuant from a sell rating to a strong sell rating in a report on Wednesday, August 16th. BMO Capital Markets upped their target price on shares of Actuant from $22.00 to $23.00 and gave the company a market perform rating in a report on Friday, August 18th. Wolfe Research cut shares of Actuant from a market perform rating to an underperform rating in a report on Monday, August 21st. KeyCorp reaffirmed a buy rating and issued a $29.00 target price (up from $28.00) on shares of Actuant in a report on Monday, September 18th. Finally, Robert W. Baird boosted their price target on shares of Actuant from $26.00 to $27.00 and gave the stock an outperform rating in a research note on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Actuant currently has an average rating of Hold and a consensus target price of $25.00.

Shares of Actuant (NYSE:ATU) opened at $26.30 on Wednesday. Actuant has a 1-year low of $21.60 and a 1-year high of $29.80. The company has a quick ratio of 1.33, a current ratio of 1.71 and a debt-to-equity ratio of 1.06. The company has a market cap of $1,576.82, a PE ratio of 32.07, a PEG ratio of 2.60 and a beta of 1.65.

Actuant (NYSE:ATU) last announced its earnings results on Wednesday, September 27th. The industrial products company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). Actuant had a negative net margin of 6.04% and a positive return on equity of 9.43%. The business had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $265.33 million. During the same period in the previous year, the company posted $0.30 earnings per share. Actuant’s quarterly revenue was up .0% on a year-over-year basis. sell-side analysts anticipate that Actuant will post 1.08 EPS for the current fiscal year.

In other news, VP Ted Wozniak sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $26.19, for a total transaction of $130,950.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. CAPROCK Group Inc. acquired a new position in Actuant during the third quarter worth about $326,000. Ironwood Investment Counsel LLC acquired a new position in Actuant during the third quarter worth about $385,000. Parametric Portfolio Associates LLC acquired a new position in Actuant during the second quarter worth about $4,799,000. Legal & General Group Plc grew its position in Actuant by 9.0% during the second quarter. Legal & General Group Plc now owns 116,488 shares of the industrial products company’s stock worth $2,864,000 after buying an additional 9,590 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Actuant by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 701,539 shares of the industrial products company’s stock worth $17,258,000 after buying an additional 14,152 shares during the period.

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About Actuant

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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