Actuant Corporation (NYSE:ATU) – Stock analysts at Gabelli dropped their FY2017 earnings per share estimates for shares of Actuant Corporation in a research report issued on Thursday. Gabelli analyst J. Bergner now forecasts that the industrial products company will post earnings per share of $0.85 for the year, down from their prior forecast of $1.10. Gabelli currently has a “Buy” rating on the stock. Gabelli also issued estimates for Actuant Corporation’s FY2019 earnings at $1.25 EPS and FY2020 earnings at $1.45 EPS.
A number of other research firms have also commented on ATU. KeyCorp raised shares of Actuant Corporation from a “sector weight” rating to an “overweight” rating and set a $32.00 target price for the company in a report on Friday, March 10th. J P Morgan Chase & Co raised shares of Actuant Corporation from an “underweight” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $21.00 in a report on Wednesday, June 21st. Stifel Nicolaus lowered their target price on shares of Actuant Corporation from $28.00 to $26.00 and set a “hold” rating for the company in a report on Thursday, June 22nd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $28.00 target price on shares of Actuant Corporation in a report on Tuesday, June 6th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $25.00 target price on shares of Actuant Corporation in a report on Wednesday, March 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $27.00.
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Shares of Actuant Corporation (ATU) opened at 23.65 on Monday. The stock’s 50 day moving average price is $25.95 and its 200 day moving average price is $26.60. Actuant Corporation has a 1-year low of $20.54 and a 1-year high of $29.80. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 28.15 and a beta of 1.60.
Actuant Corporation (NYSE:ATU) last issued its quarterly earnings results on Wednesday, June 21st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $295.40 million during the quarter, compared to analyst estimates of $294 million. Actuant Corporation had a return on equity of 10.58% and a net margin of 4.56%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the company posted $0.40 EPS.
In related news, VP Ted Wozniak sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $25.64, for a total transaction of $25,640.00. Following the sale, the vice president now owns 82,496 shares in the company, valued at approximately $2,115,197.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in ATU. Quadrature Capital Ltd purchased a new position in shares of Actuant Corporation during the fourth quarter worth $238,000. Thrivent Financial for Lutherans boosted its stake in Actuant Corporation by 5.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 31,750 shares of the industrial products company’s stock worth $824,000 after buying an additional 1,550 shares during the last quarter. State Street Corp boosted its stake in Actuant Corporation by 7.9% in the fourth quarter. State Street Corp now owns 1,342,550 shares of the industrial products company’s stock worth $34,841,000 after buying an additional 98,361 shares during the last quarter. Comerica Bank boosted its stake in Actuant Corporation by 9.7% in the first quarter. Comerica Bank now owns 203,186 shares of the industrial products company’s stock worth $5,557,000 after buying an additional 17,936 shares during the last quarter. Finally, FMR LLC bought a new stake in Actuant Corporation during the fourth quarter worth approximately $5,642,000.
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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