Actuant (NYSE:ATU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Actuant believes that its solid Engineered Solutions and Industrial businesses will boost its revenues and profitability in the upcoming quarters. Moreover, strategic divestitures and acquisitions are expected to reinforce the company’s competency. However, over the last three months, the stock has underperformed and looks overvalued compared to the industry. The prevalent trend of customer maintenance deferrals, scope reductions and push-outs might continue to hurt the company’s Energy business in the quarters ahead. Also, other issues such as sales mix headwinds, input price inflation or costs associated with commercial effectiveness actions might weigh over near-term margins. Over the last 60 days, Zacks Consensus Estimate for the stock has remained unchanged for both fiscal 2018 and 2019.”
Actuant (ATU) traded up $0.30 during mid-day trading on Tuesday, hitting $23.70. The stock had a trading volume of 231,119 shares, compared to its average volume of 473,555. Actuant has a 52 week low of $21.60 and a 52 week high of $29.10. The company has a market cap of $1,419.18, a price-to-earnings ratio of -21.35, a P/E/G ratio of 2.36 and a beta of 1.56. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.35 and a current ratio of 1.80.
Actuant (NYSE:ATU) last released its quarterly earnings data on Wednesday, December 20th. The industrial products company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. Actuant had a positive return on equity of 9.29% and a negative net margin of 5.89%. The company had revenue of $289.00 million for the quarter, compared to analyst estimates of $269.22 million. During the same period in the prior year, the company posted $0.20 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. research analysts expect that Actuant will post 1.07 earnings per share for the current fiscal year.
In other news, VP Ted Wozniak sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $25.66, for a total value of $153,960.00. Following the transaction, the vice president now directly owns 70,705 shares of the company’s stock, valued at approximately $1,814,290.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in Actuant by 133.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,201 shares of the industrial products company’s stock worth $157,000 after buying an additional 3,550 shares in the last quarter. SG Americas Securities LLC acquired a new position in Actuant during the 3rd quarter worth $162,000. Xact Kapitalforvaltning AB acquired a new position in Actuant during the 4th quarter worth $240,000. Jane Street Group LLC acquired a new position in Actuant during the 3rd quarter worth $244,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Actuant during the 3rd quarter worth $270,000.
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Actuant 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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