KeyCorp Reiterates Buy Rating for Actuant Corporation (ATU)

Actuant Corporation (NYSE:ATU)‘s stock had its “buy” rating reaffirmed by stock analysts at KeyCorp in a research note issued to investors on Monday. They currently have a $29.00 price target on the industrial products company’s stock, up from their previous price target of $28.00. KeyCorp’s target price points to a potential upside of 10.06% from the company’s previous close.

A number of other research analysts also recently issued reports on ATU. Royal Bank of Canada restated a “hold” rating and issued a $28.00 price target on shares of Actuant Corporation in a research report on Tuesday, June 6th. Zacks Investment Research downgraded shares of Actuant Corporation from a “hold” rating to a “sell” rating in a research report on Monday, June 12th. J P Morgan Chase & Co upgraded shares of Actuant Corporation from an “underweight” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $21.00 in a research report on Wednesday, June 21st. Barclays PLC upgraded shares of Actuant Corporation from an “underweight” rating to an “equal weight” rating and set a $20.00 price target on the stock in a research report on Thursday, June 22nd. Finally, Stifel Nicolaus dropped their price target on shares of Actuant Corporation from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $26.44.

Shares of Actuant Corporation (NYSE ATU) opened at 26.35 on Monday. Actuant Corporation has a 52 week low of $20.54 and a 52 week high of $29.80. The firm has a 50-day moving average of $24.07 and a 200 day moving average of $25.26. The company has a market cap of $1.57 billion, a P/E ratio of 31.37 and a beta of 1.61.

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, topping the Zacks’ consensus estimate of $0.31 by $0.01. The firm had revenue of $295.40 million for the quarter, compared to the consensus estimate of $294.00 million. Actuant Corporation had a net margin of 4.56% and a return on equity of 10.58%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 EPS. Equities analysts anticipate that Actuant Corporation will post $0.01 earnings per share for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its stake in shares of Actuant Corporation by 5.1% in the 1st quarter. Ameriprise Financial Inc. now owns 312,140 shares of the industrial products company’s stock valued at $8,224,000 after acquiring an additional 15,097 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of Actuant Corporation by 16.9% in the 1st quarter. OppenheimerFunds Inc. now owns 30,002 shares of the industrial products company’s stock valued at $791,000 after acquiring an additional 4,338 shares in the last quarter. Vanguard Group Inc. increased its stake in Actuant Corporation by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 5,127,270 shares of the industrial products company’s stock valued at $135,104,000 after purchasing an additional 299,479 shares in the last quarter. Aperio Group LLC increased its stake in Actuant Corporation by 3.6% during the 2nd quarter. Aperio Group LLC now owns 16,263 shares of the industrial products company’s stock valued at $400,000 after purchasing an additional 560 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its stake in Actuant Corporation by 43.7% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,550,027 shares of the industrial products company’s stock valued at $38,131,000 after purchasing an additional 471,037 shares in 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.

Analyst Recommendations for Actuant Corporation (NYSE:ATU)

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