Analysts Set Expectations for Actuant Corp.’s Q2 2017 Earnings (ATU)
Actuant Corp. (NYSE:ATU) – SunTrust Banks reduced their Q2 2017 earnings estimates for shares of Actuant Corp. in a research report issued to clients and investors on Monday. SunTrust Banks analyst C. Brady now forecasts that the firm will post earnings per share of $0.14 for the quarter, down from their previous forecast of $0.15. SunTrust Banks also issued estimates for Actuant Corp.’s Q3 2017 earnings at $0.39 EPS, Q4 2017 earnings at $0.27 EPS, FY2017 earnings at $0.97 EPS, Q1 2018 earnings at $0.22 EPS, Q2 2018 earnings at $0.21 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.37 EPS and FY2018 earnings at $1.28 EPS.
A number of other analysts have also weighed in on the stock. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of Actuant Corp. in a research note on Friday, June 24th. Zacks Investment Research raised shares of Actuant Corp. from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Barclays PLC reaffirmed an “equal weight” rating and issued a $20.00 price target on shares of Actuant Corp. in a research note on Tuesday, July 12th. TheStreet lowered shares of Actuant Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Finally, JPMorgan Chase & Co. lowered shares of Actuant Corp. from a “neutral” rating to an “underweight” rating and cut their target price for the company from $25.00 to $20.00 in a research note on Wednesday, June 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $23.67.
Actuant Corp. (NYSE:ATU) traded up 0.40% during mid-day trading on Tuesday, hitting $22.36. The stock had a trading volume of 227,622 shares. Actuant Corp. has a one year low of $20.49 and a one year high of $27.71. The company has a 50 day moving average price of $22.89 and a 200-day moving average price of $24.42. The company’s market cap is $1.32 billion.
Actuant Corp. (NYSE:ATU) last posted its quarterly earnings data on Wednesday, September 28th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. Actuant Corp. had a positive return on equity of 13.22% and a negative net margin of 9.15%. The business had revenue of $275.77 million for the quarter. During the same period in the prior year, the company posted $0.37 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year.
In related news, CEO Randal W. Baker acquired 10,000 shares of the company’s stock in a transaction on Tuesday, October 11th. The shares were purchased at an average price of $22.55 per share, for a total transaction of $225,500.00. Following the purchase, the chief executive officer now owns 79,376 shares in the company, valued at $1,789,928.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Randal W. Baker acquired 15,000 shares of the company’s stock in a transaction on Thursday, October 13th. The stock was bought at an average price of $22.30 per share, for a total transaction of $334,500.00. Following the purchase, the chief executive officer now owns 94,376 shares in the company, valued at approximately $2,104,584.80. The disclosure for this purchase can be found here. Insiders own 3.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parametrica Management Ltd bought a new position in Actuant Corp. during the third quarter valued at $425,000. CHICAGO TRUST Co NA bought a new position in Actuant Corp. during the third quarter valued at $255,000. Raymond James Trust N.A. bought a new position in Actuant Corp. during the third quarter valued at $204,000. Mason Street Advisors LLC bought a new position in Actuant Corp. during the second quarter valued at $260,000. Finally, Public Employees Retirement System of Ohio raised its position in Actuant Corp. by 680.4% in the second quarter. Public Employees Retirement System of Ohio now owns 43,817 shares of the company’s stock valued at $991,000 after buying an additional 38,202 shares in the last quarter.
Actuant Corp. 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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