Actuant Co. (NYSE:ATU) Given Average Recommendation of “Hold” by Brokerages
Actuant Co. (NYSE:ATU) has been assigned an average rating of “Hold” from the twelve analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $20.53.
Several research analysts have weighed in on the company. G.Research lowered Actuant from a “buy” rating to a “hold” rating in a report on Monday, September 30th. JPMorgan Chase & Co. downgraded Actuant from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $23.00 to $18.00 in a report on Wednesday, September 11th. Robert W. Baird dropped their price target on Actuant from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. ValuEngine cut Actuant from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, Royal Bank of Canada set a $24.00 price objective on Actuant and gave the company a “hold” rating in a report on Wednesday, September 18th.
ATU opened at $24.82 on Monday. The firm’s fifty day moving average is $22.10 and its two-hundred day moving average is $22.72. The firm has a market cap of $1.53 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 2.27 and a beta of 1.63. Actuant has a twelve month low of $19.07 and a twelve month high of $27.97. The company has a debt-to-equity ratio of 1.50, a quick ratio of 2.17 and a current ratio of 2.43.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Nuveen Asset Management LLC acquired a new position in Actuant in the 2nd quarter worth $6,225,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Actuant by 14.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 754,840 shares of the industrial products company’s stock valued at $16,561,000 after purchasing an additional 97,090 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Actuant by 40.5% in the second quarter. Morgan Stanley now owns 328,579 shares of the industrial products company’s stock valued at $8,152,000 after purchasing an additional 94,707 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Actuant by 1,523.5% during the second quarter. Marshall Wace LLP now owns 78,320 shares of the industrial products company’s stock worth $1,943,000 after buying an additional 73,496 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Actuant by 191.0% during the third quarter. Millennium Management LLC now owns 102,152 shares of the industrial products company’s stock worth $2,241,000 after buying an additional 67,052 shares during the period.
Actuant Corporation designs, manufactures, and distributes a range of industrial products and systems worldwide. It operates in two segments, Industrial Tools & Services (IT&S) and Engineered Components & Systems (EC&S). The IT&S segment designs, manufactures, and distributes branded hydraulic and mechanical tools; and provides services and tool rentals to the industrial, maintenance, infrastructure, oil and gas, energy, and other markets.
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