SunTrust Banks Equities Analysts Raise Earnings Estimates for Actuant Co. (ATU)

Actuant Co. (NYSE:ATU) – Equities researchers at SunTrust Banks raised their FY2017 EPS estimates for shares of Actuant in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. SunTrust Banks analyst C. Brady now anticipates that the industrial products company will post earnings of $1.13 per share for the year, up from their previous estimate of $1.04. SunTrust Banks also issued estimates for Actuant’s Q4 2017 earnings at $0.41 EPS, Q2 2018 earnings at $0.17 EPS, Q4 2018 earnings at $0.45 EPS and FY2018 earnings at $1.38 EPS.

Several other analysts also recently weighed in on ATU. Aegis reissued a “buy” rating and set a $30.00 target price on shares of Actuant in a research report on Tuesday, December 27th. Zacks Investment Research downgraded shares of Actuant from a “buy” rating to a “hold” rating in a research report on Tuesday, February 21st. Robert W. Baird raised shares of Actuant from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 31st. Tudor Pickering began coverage on shares of Actuant in a report on Thursday, March 23rd. They issued a “hold” rating on the stock. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Actuant in a report on Wednesday, March 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $26.78.

Earnings History and Estimates for Actuant (NYSE:ATU)

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Shares of Actuant (NYSE:ATU) traded down 0.59% during midday trading on Friday, reaching $25.15. 302,696 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $26.37 and its 200 day moving average price is $25.89. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 30.67 and a beta of 1.57. Actuant has a 12-month low of $20.54 and a 12-month high of $29.80.

Actuant (NYSE:ATU) last announced its quarterly earnings data on Wednesday, March 22nd. The industrial products company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.01. The business earned $258.90 million during the quarter, compared to analysts’ expectations of $250.31 million. Actuant had a positive return on equity of 12.92% and a negative net margin of 10.42%. Actuant’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.07 EPS.

In related news, VP Stephen Rennie sold 2,647 shares of the stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $25.20, for a total transaction of $66,704.40. Following the sale, the vice president now directly owns 55,818 shares of the company’s stock, valued at $1,406,613.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ted Wozniak sold 1,000 shares of the stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $25.64, for a total transaction of $25,640.00. Following the sale, the vice president now directly owns 82,496 shares in the company, valued at $2,115,197.44. The disclosure for this sale can be found here. Insiders have sold 4,147 shares of company stock worth $105,009 over the last three months. 4.00% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in ATU. Norges Bank purchased a new stake in shares of Actuant during the fourth quarter worth about $28,871,000. Aberdeen Asset Management PLC UK increased its stake in shares of Actuant by 42.6% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,555,296 shares of the industrial products company’s stock worth $40,360,000 after buying an additional 464,380 shares during the period. BlackRock Fund Advisors increased its stake in shares of Actuant by 8.0% in the third quarter. BlackRock Fund Advisors now owns 4,205,310 shares of the industrial products company’s stock worth $97,731,000 after buying an additional 312,272 shares during the period. Mountain Lake Investment Management LLC purchased a new stake in shares of Actuant during the third quarter worth about $6,042,000. Finally, FMR LLC purchased a new stake in shares of Actuant during the fourth quarter worth about $5,642,000.

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.

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