Zacks Investment Research Upgrades Actuant (ATU) to Hold

Actuant (NYSE:ATU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Over the past three months, Actuant’s shares have outperformed the industry. Increasing demand from industrial and off-highway equipment markets is expected to drive Actuant’s revenues. The company is also strengthening its business on the back of acquisitions, portfolio-managemnet moves and increased innovation. However, Actuant believes customer maintenance deferrals, scope reductions and push-outs from various end-markets will continue to depress its Energy business in the upcoming quarters. Moreover, near-term margins are expected to be hurt due to expedited freight, certain maintenance-related expenses, persistent inflation, as well as the ongoing engineering and commercial investments. Over the last 60 days, the Zacks Consensus Estimate for the stock has remained unchanged for fiscals 2018 and 2019.”

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus dropped their target price on Actuant from $26.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, March 22nd. Robert W. Baird restated a “buy” rating and set a $25.00 target price on shares of Actuant in a report on Thursday, March 22nd. BMO Capital Markets dropped their target price on Actuant from $25.00 to $24.00 and set a “market perform” rating for the company in a report on Thursday, March 22nd. Finally, KeyCorp dropped their target price on Actuant from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, March 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $24.44.

Shares of ATU stock opened at $23.35 on Wednesday. The stock has a market cap of $1.45 billion, a P/E ratio of 28.13, a P/E/G ratio of 2.52 and a beta of 1.51. Actuant has a 1-year low of $21.50 and a 1-year high of $27.95. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.15 and a quick ratio of 1.55.

Actuant (NYSE:ATU) last issued its earnings results on Wednesday, March 21st. The industrial products company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The company had revenue of $275.20 million for the quarter, compared to analysts’ expectations of $267.57 million. Actuant had a negative net margin of 7.86% and a positive return on equity of 9.21%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.11 earnings per share. equities research analysts expect that Actuant will post 1.03 EPS for the current fiscal year.

In other Actuant news, Director Alfredo Altavilla acquired 3,000 shares of the company’s stock in a transaction on Wednesday, May 23rd. The stock was acquired at an average price of $24.80 per share, for a total transaction of $74,400.00. Following the acquisition, the director now owns 2,000 shares in the company, valued at approximately $49,600. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in Actuant by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 459,952 shares of the industrial products company’s stock worth $10,694,000 after buying an additional 12,318 shares during the period. Summit Trail Advisors LLC lifted its holdings in Actuant by 2,171.8% in the 1st quarter. Summit Trail Advisors LLC now owns 280,935 shares of the industrial products company’s stock worth $281,000 after buying an additional 268,569 shares during the period. Xact Kapitalforvaltning AB lifted its holdings in Actuant by 45.4% in the 1st quarter. Xact Kapitalforvaltning AB now owns 13,774 shares of the industrial products company’s stock worth $320,000 after buying an additional 4,300 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Actuant by 33.4% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,639,734 shares of the industrial products company’s stock worth $61,374,000 after buying an additional 660,434 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Actuant by 2.6% in the 1st quarter. Legal & General Group Plc now owns 124,801 shares of the industrial products company’s stock worth $2,881,000 after buying an additional 3,120 shares during the period.

About Actuant

Actuant Corporation designs, manufactures, and distributes a range of industrial products and systems worldwide. It operates through three segments: Industrial, Energy, and Engineered Solutions. The 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 under the Enerpac, Larzep, Milwaukee Cylinder, Precision-Hayes, and Simplex brand names.

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