Actuant (ATU) PT Lowered to $27.00 at KeyCorp

Actuant (NYSE:ATU) had its price target cut by KeyCorp from $29.00 to $27.00 in a report released on Thursday. They currently have an overweight rating on the industrial products company’s stock. KeyCorp also issued estimates for Actuant’s Q3 2018 earnings at $0.37 EPS, FY2018 earnings at $1.07 EPS and FY2019 earnings at $1.25 EPS.

ATU has been the topic of several other research reports. Zacks Investment Research cut Actuant from a buy rating to a hold rating in a research note on Friday, December 22nd. Robert W. Baird reiterated a buy rating and issued a $25.00 price target on shares of Actuant in a research note on Thursday. Finally, Stifel Nicolaus cut their price target on Actuant from $26.00 to $25.00 and set a hold rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $24.44.

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Actuant stock opened at $22.40 on Thursday. The company has a market capitalization of $1,344.18, a PE ratio of 26.99, a price-to-earnings-growth ratio of 2.31 and a beta of 1.56. Actuant has a one year low of $21.50 and a one year high of $27.95. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.35 and a current ratio of 2.15.

Actuant (NYSE:ATU) last released its quarterly earnings results on Wednesday, March 21st. The industrial products company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). Actuant had a positive return on equity of 9.21% and a negative net margin of 7.86%. The business had revenue of $275.20 million during the quarter, compared to analyst estimates of $267.57 million. During the same quarter last year, the firm posted $0.11 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. sell-side analysts expect that Actuant will post 1.04 EPS for the current year.

In other Actuant news, VP Ted Wozniak sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $25.66, for a total transaction of $153,960.00. Following the sale, the vice president now owns 70,705 shares in the company, valued at $1,814,290.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ATU. First Trust Advisors LP raised its stake in Actuant by 147.3% during the third quarter. First Trust Advisors LP now owns 29,030 shares of the industrial products company’s stock valued at $743,000 after buying an additional 17,290 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Actuant during the third quarter valued at approximately $270,000. BNP Paribas Arbitrage SA raised its stake in Actuant by 41.8% during the third quarter. BNP Paribas Arbitrage SA now owns 32,896 shares of the industrial products company’s stock valued at $842,000 after buying an additional 9,703 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Actuant by 48.6% during the third quarter. Municipal Employees Retirement System of Michigan now owns 25,360 shares of the industrial products company’s stock valued at $649,000 after buying an additional 8,290 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Actuant by 2.4% during the third quarter. Rhumbline Advisers now owns 131,422 shares of the industrial products company’s stock valued at $3,364,000 after buying an additional 3,050 shares in the last quarter.

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About Actuant

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.

Analyst Recommendations for Actuant (NYSE:ATU)

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