Actuant Corporation’s (ATU) Buy Rating Reiterated at KeyCorp
KeyCorp restated their buy rating on shares of Actuant Corporation (NYSE:ATU) in a research note released on Sunday morning. The brokerage currently has a $29.00 target price on the industrial products company’s stock.
Several other research analysts have also issued reports on ATU. BidaskClub lowered shares of Actuant Corporation from a hold rating to a sell rating in a research report on Friday, July 28th. BMO Capital Markets increased their price target on shares of Actuant Corporation from $22.00 to $23.00 and gave the stock a market perform rating in a research report on Friday, August 18th. Wolfe Research lowered shares of Actuant Corporation from a market perform rating to an underperform rating in a research report on Monday, August 21st. Zacks Investment Research raised shares of Actuant Corporation from a strong sell rating to a hold rating in a report on Tuesday, August 22nd. Finally, Robert W. Baird raised their price objective on shares of Actuant Corporation from $26.00 to $27.00 and gave the stock an outperform rating in a report on Thursday, September 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $25.00.
Actuant Corporation (ATU) opened at $25.80 on Friday. Actuant Corporation has a 52-week low of $21.60 and a 52-week high of $29.80. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.71 and a quick ratio of 1.33. The stock has a market cap of $1,510.00, a PE ratio of 30.92, a P/E/G ratio of 2.51 and a beta of 1.64.
Actuant Corporation (NYSE:ATU) last posted its quarterly earnings results on Wednesday, September 27th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). Actuant Corporation had a positive return on equity of 9.43% and a negative net margin of 6.04%. The business had revenue of $275.70 million during the quarter, compared to analyst estimates of $265.33 million. During the same period last year, the company earned $0.30 EPS. The business’s revenue for the quarter was up .0% on a year-over-year basis. analysts expect that Actuant Corporation will post 1.08 EPS for the current fiscal year.
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In related news, VP Ted Wozniak sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $26.19, for a total value of $130,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.00% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Neuberger Berman Group LLC increased its holdings in shares of Actuant Corporation by 10.0% in the third quarter. Neuberger Berman Group LLC now owns 632,812 shares of the industrial products company’s stock valued at $16,200,000 after purchasing an additional 57,545 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Actuant Corporation by 1.6% in the third quarter. California Public Employees Retirement System now owns 187,694 shares of the industrial products company’s stock valued at $4,805,000 after purchasing an additional 2,894 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Actuant Corporation in the third quarter valued at approximately $244,000. Oppenheimer Asset Management Inc. increased its holdings in shares of Actuant Corporation by 41.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 16,733 shares of the industrial products company’s stock valued at $428,000 after purchasing an additional 4,879 shares in the last quarter. Finally, OxFORD Asset Management LLP acquired a new stake in shares of Actuant Corporation in the third quarter valued at approximately $1,205,000.
Actuant Corporation 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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