Actuant Corp. (ATU) Receives Average Rating of “Hold” from Brokerages
Shares of Actuant Corp. (NYSE:ATU) have been given an average recommendation of “Hold” by the thirteen research firms that are covering the company. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $23.63.
ATU has been the subject of several recent research reports. Wells Fargo & Co. cut Actuant Corp. from an “outperform” rating to a “market perform” rating in a research note on Friday, October 7th. Zacks Investment Research raised Actuant Corp. from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Robert W. Baird raised Actuant Corp. from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $25.00 to $30.00 in a research note on Monday, November 14th. BMO Capital Markets reissued a “hold” rating and issued a $22.00 price objective on shares of Actuant Corp. in a research note on Monday, November 21st. Finally, TheStreet cut Actuant Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th.
Actuant Corp. (NYSE:ATU) traded up 0.39% during midday trading on Wednesday, reaching $26.05. The company’s stock had a trading volume of 539,483 shares. The firm has a 50 day moving average of $23.67 and a 200 day moving average of $24.07. Actuant Corp. has a 52-week low of $20.49 and a 52-week high of $27.71. The firm’s market cap is $1.54 billion.
Actuant Corp. (NYSE:ATU) last issued its quarterly earnings results on Wednesday, September 28th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company earned $275.77 million during the quarter. Actuant Corp. had a positive return on equity of 13.22% and a negative net margin of 9.15%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS. Analysts anticipate that Actuant Corp. will post ($0.01) earnings per share for the current fiscal year.
In other news, CEO Randal W. Baker purchased 10,000 shares of the company’s stock in a transaction on Tuesday, October 11th. The stock was 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 directly owns 79,376 shares in the company, valued at approximately $1,789,928.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Randal W. Baker purchased 15,000 shares of the company’s stock in a transaction on Thursday, October 13th. The shares were purchased at an average cost of $22.30 per share, with a total value of $334,500.00. Following the purchase, the chief executive officer now owns 94,376 shares of the company’s stock, valued at $2,104,584.80. The disclosure for this purchase can be found here. Company insiders own 3.90% of the company’s stock.
A number of large investors have recently modified their holdings of ATU. Capstone Asset Management Co. raised its stake in shares of Actuant Corp. by 0.3% in the second quarter. Capstone Asset Management Co. now owns 17,782 shares of the company’s stock valued at $402,000 after buying an additional 50 shares during the period. Oppenheimer & Co. Inc. raised its stake in Actuant Corp. by 0.3% in the third quarter. Oppenheimer & Co. Inc. now owns 52,588 shares of the company’s stock worth $1,222,000 after buying an additional 150 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Actuant Corp. by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 13,090 shares of the company’s stock worth $304,000 after buying an additional 230 shares during the period. PineBridge Investments L.P. raised its stake in Actuant Corp. by 3.7% in the second quarter. PineBridge Investments L.P. now owns 7,467 shares of the company’s stock worth $168,000 after buying an additional 269 shares during the period. Finally, Arizona State Retirement System raised its stake in Actuant Corp. by 1.3% in the second quarter. Arizona State Retirement System now owns 30,545 shares of the company’s stock worth $691,000 after buying an additional 400 shares during the period.
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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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