Gabelli Lowers Actuant (NYSE:ATU) to Hold

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Actuant (NYSE:ATU) was downgraded by equities researchers at Gabelli from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Marketbeat reports. They currently have a $29.00 price target on the industrial products company’s stock. Gabelli’s price target indicates a potential upside of 17.89% from the company’s previous close.

ATU has been the subject of a number of other reports. JPMorgan Chase & Co. lowered Actuant from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $23.00 to $18.00 in a research note on Wednesday, September 11th. ValuEngine raised Actuant from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Finally, Robert W. Baird lowered Actuant from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $25.00 to $23.00 in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Actuant currently has a consensus rating of “Hold” and a consensus price target of $20.22.

Shares of Actuant stock opened at $24.60 on Tuesday. The stock has a 50 day moving average of $22.56 and a 200 day moving average of $23.79. Actuant has a 12 month low of $19.07 and a 12 month high of $31.00. The firm has a market cap of $1.61 billion, a PE ratio of 22.57, a PEG ratio of 2.16 and a beta of 1.65. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.77.

Actuant (NYSE:ATU) last announced its quarterly earnings results on Wednesday, June 26th. The industrial products company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. Actuant had a positive return on equity of 13.89% and a negative net margin of 1.72%. The company had revenue of $295.30 million during the quarter, compared to analyst estimates of $301.21 million. During the same period in the prior year, the company earned $0.39 earnings per share. The firm’s revenue was down 6.9% on a year-over-year basis. As a group, equities research analysts forecast that Actuant will post 0.7 earnings per share for the current fiscal year.

In other news, Director Deursen Holly Van sold 1,647 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $21.20, for a total value of $34,916.40. Following the completion of the sale, the director now directly owns 41,165 shares of the company’s stock, valued at approximately $872,698. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.62% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. Arizona State Retirement System lifted its stake in shares of Actuant by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 95,272 shares of the industrial products company’s stock valued at $2,364,000 after purchasing an additional 978 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Actuant by 55.5% in the 2nd quarter. First Trust Advisors LP now owns 81,739 shares of the industrial products company’s stock valued at $2,028,000 after purchasing an additional 29,158 shares during the last quarter. Aperio Group LLC lifted its stake in shares of Actuant by 2.5% in the 2nd quarter. Aperio Group LLC now owns 18,519 shares of the industrial products company’s stock valued at $459,000 after purchasing an additional 457 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Actuant in the 1st quarter valued at approximately $201,000. Finally, Comerica Bank lifted its stake in shares of Actuant by 1.1% in the 2nd quarter. Comerica Bank now owns 233,677 shares of the industrial products company’s stock valued at $5,258,000 after purchasing an additional 2,561 shares during the last quarter.

About Actuant

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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