Actuant Corp. (ATU) Receives Average Rating of “Hold” from Brokerages
Actuant Corp. (NYSE:ATU) has earned a consensus rating of “Hold” from the thirteen brokerages that are covering the firm. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $23.63.
Several equities analysts recently issued reports on the stock. Wells Fargo & Co. lowered shares of Actuant Corp. from an “outperform” rating to a “market perform” rating in a report on Friday, October 7th. Barclays PLC lowered shares of Actuant Corp. from an “equal weight” rating to an “underweight” rating and set a $19.00 price objective on the stock. in a report on Monday, October 24th. Zacks Investment Research raised shares of Actuant Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 12th. Robert W. Baird raised shares of Actuant Corp. from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $25.00 to $30.00 in a report on Monday, November 14th. Finally, TheStreet lowered shares of Actuant Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th.
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Actuant Corp. (NYSE:ATU) traded up 0.39% during trading on Wednesday, reaching $26.05. The company had a trading volume of 539,483 shares. The stock’s market capitalization is $1.54 billion. Actuant Corp. has a 12-month low of $20.49 and a 12-month high of $27.71. The stock has a 50 day moving average of $23.67 and a 200-day moving average of $24.07.
Actuant Corp. (NYSE:ATU) last posted its quarterly earnings results on Wednesday, September 28th. The company reported $0.30 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. Actuant Corp. had a negative net margin of 9.15% and a positive return on equity of 13.22%. The firm earned $275.77 million during the quarter. During the same period in the prior year, the firm posted $0.37 EPS. The business’s revenue was down 8.0% on a year-over-year basis. On average, analysts forecast that Actuant Corp. will post ($0.01) earnings per share for the current fiscal year.
In related news, CEO Randal W. Baker acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, October 11th. The shares were purchased at an average cost of $22.55 per share, with a total value of $225,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 79,376 shares of the company’s stock, valued at $1,789,928.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Randal W. Baker acquired 15,000 shares of the company’s stock in a transaction dated Thursday, October 13th. The shares were bought at an average cost of $22.30 per share, for a total transaction of $334,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 94,376 shares of the company’s stock, valued at $2,104,584.80. The disclosure for this purchase can be found here. Insiders own 3.90% of the company’s stock.
Several large investors have recently made changes to their positions in ATU. Fuller & Thaler Asset Management Inc. increased its position in Actuant Corp. by 20.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,876,283 shares of the company’s stock worth $110,253,000 after buying an additional 811,365 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in shares of Actuant Corp. by 61.9% in the second quarter. Frontier Capital Management Co. LLC now owns 1,121,899 shares of the company’s stock worth $25,366,000 after buying an additional 429,027 shares during the period. BlackRock Fund Advisors increased its position in shares of Actuant Corp. by 8.0% in the third quarter. BlackRock Fund Advisors now owns 4,205,310 shares of the company’s stock worth $97,731,000 after buying an additional 312,272 shares during the period. Penn Capital Management Co. Inc. purchased a new position in shares of Actuant Corp. during the second quarter worth $6,653,000. Finally, Vanguard Group Inc. increased its position in shares of Actuant Corp. by 6.6% in the second quarter. Vanguard Group Inc. now owns 4,445,392 shares of the company’s stock worth $100,510,000 after buying an additional 273,973 shares during the period.
About Actuant Corp.
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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