Actuant Corp.’s (ATU) “Hold” Rating Reaffirmed at BMO Capital Markets
BMO Capital Markets reiterated their hold rating on shares of Actuant Corp. (NYSE:ATU) in a research report report published on Monday morning. They currently have a $22.00 price objective on the stock.
Other research analysts have also issued research reports about the stock. 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 research note on Monday, October 24th. TheStreet downgraded shares of Actuant Corp. from a hold rating to a sell rating in a report on Wednesday, September 28th. Robert W. Baird raised shares of Actuant Corp. from a neutral rating to an outperform rating and increased their price target for the company from $25.00 to $30.00 in a report on Monday, November 14th. Zacks Investment Research downgraded shares of Actuant Corp. from a hold rating to a sell rating in a report on Friday, September 2nd. Finally, Wells Fargo & Co. downgraded shares of Actuant Corp. from an outperform rating to a market perform rating in a report on Friday, October 7th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $24.22.
Actuant Corp. (NYSE:ATU) traded up 0.19% during trading on Monday, hitting $26.00. 37,284 shares of the company traded hands. The firm’s market cap is $1.53 billion. The firm has a 50 day moving average of $23.34 and a 200 day moving average of $24.07. Actuant Corp. has a one year low of $20.49 and a one year high of $27.71.
Actuant Corp. (NYSE:ATU) last released its quarterly earnings data on Wednesday, September 28th. The company reported $0.30 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The firm had revenue of $275.77 million for the quarter. Actuant Corp. had a negative net margin of 9.15% and a positive return on equity of 13.22%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 EPS. On average, analysts expect that Actuant Corp. will post ($0.01) earnings per share for the current fiscal year.
In other news, CEO Randal W. Baker acquired 15,000 shares of the business’s stock in a transaction on Thursday, October 13th. The stock was bought at an average cost 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 $2,104,584.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Randal W. Baker acquired 10,000 shares of the business’s stock in a transaction on Tuesday, October 11th. The shares were purchased at an average price of $22.55 per share, with a total value of $225,500.00. Following the completion of the purchase, the chief executive officer now owns 79,376 shares in the company, valued at approximately $1,789,928.80. The disclosure for this purchase can be found here. 3.90% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. raised its stake 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 valued at $110,253,000 after buying an additional 811,365 shares during the period. Frontier Capital Management Co. LLC raised its stake in 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 valued at $25,366,000 after buying an additional 429,027 shares during the period. BlackRock Fund Advisors raised its stake in Actuant Corp. by 8.0% in the third quarter. BlackRock Fund Advisors now owns 4,205,310 shares of the company’s stock valued at $97,731,000 after buying an additional 312,272 shares during the period. Penn Capital Management Co. Inc. purchased a new stake in Actuant Corp. during the second quarter valued at approximately $6,653,000. Finally, Vanguard Group Inc. raised its stake in Actuant Corp. by 6.6% in the second quarter. Vanguard Group Inc. now owns 4,445,392 shares of the company’s stock valued at $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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