Actuant Corporation (NYSE:ATU) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday.
A number of other equities research analysts have also recently weighed in on the stock. J P Morgan Chase & Co upgraded shares of Actuant Corporation from an “underweight” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $21.00 in a report on Wednesday, June 21st. Zacks Investment Research cut shares of Actuant Corporation from a “hold” rating to a “sell” rating in a report on Monday, June 12th. Gabelli upgraded shares of Actuant Corporation from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Wolfe Research started coverage on shares of Actuant Corporation in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, Stifel Nicolaus cut their price objective on shares of Actuant Corporation from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $27.00.
Actuant Corporation (NYSE ATU) opened at 23.30 on Wednesday. The company has a 50-day moving average of $24.14 and a 200 day moving average of $25.68. Actuant Corporation has a 12 month low of $20.54 and a 12 month high of $29.80. The company has a market cap of $1.39 billion, a PE ratio of 27.74 and a beta of 1.61.
Actuant Corporation (NYSE:ATU) last announced its quarterly earnings data on Wednesday, June 21st. The industrial products company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. The business had revenue of $295.40 million for the quarter, compared to analysts’ expectations of $294 million. Actuant Corporation had a net margin of 4.56% and a return on equity of 10.58%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. On average, equities analysts forecast that Actuant Corporation will post $0.01 earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Actuant Corporation by 24,997.9% in the first quarter. BlackRock Inc. now owns 7,785,372 shares of the industrial products company’s stock worth $205,145,000 after buying an additional 7,754,352 shares during the last quarter. Jennison Associates LLC purchased a new stake in Actuant Corporation during the first quarter worth approximately $30,515,000. Victory Capital Management Inc. boosted its stake in Actuant Corporation by 199.3% in the first quarter. Victory Capital Management Inc. now owns 1,497,354 shares of the industrial products company’s stock worth $39,456,000 after buying an additional 997,034 shares during the last quarter. First Manhattan Co. boosted its stake in Actuant Corporation by 59.3% in the first quarter. First Manhattan Co. now owns 2,452,962 shares of the industrial products company’s stock worth $57,007,000 after buying an additional 913,250 shares during the last quarter. Finally, Neuberger Berman Group LLC purchased a new stake in Actuant Corporation during the second quarter worth approximately $14,152,000.
About Actuant Corporation
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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