Actuant (NYSE:ATU) Cut to Hold at ValuEngine

ValuEngine cut shares of Actuant (NYSE:ATU) from a buy rating to a hold rating in a research report sent to investors on Friday, ValuEngine reports.

ATU has been the topic of a number of other research reports. Gabelli downgraded shares of Actuant from a buy rating to a hold rating and set a $29.00 target price on the stock. in a research report on Tuesday, September 17th. Robert W. Baird downgraded shares of Actuant from an outperform rating to a neutral rating and lowered their price objective for the stock from $25.00 to $23.00 in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. downgraded shares of Actuant from a neutral rating to an underweight rating and lowered their price objective for the stock from $23.00 to $18.00 in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $20.64.

Actuant stock opened at $24.35 on Friday. The company has a quick ratio of 1.92, a current ratio of 2.64 and a debt-to-equity ratio of 0.77. Actuant has a 12-month low of $19.07 and a 12-month high of $29.90. The firm’s fifty day moving average is $22.75 and its 200 day moving average is $23.79. The company has a market capitalization of $1.49 billion, a PE ratio of 22.34, a PEG ratio of 2.02 and a beta of 1.65.



Actuant (NYSE:ATU) last released its earnings results on Wednesday, June 26th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.05. Actuant had a negative net margin of 1.72% and a positive return on equity of 13.89%. The company had revenue of $295.30 million for the quarter, compared to the consensus estimate of $301.21 million. During the same quarter in the previous year, the company earned $0.39 EPS. Actuant’s quarterly revenue was down 6.9% compared to the same quarter last year. Sell-side analysts expect that Actuant will post 0.7 EPS for the current fiscal year.

The firm also recently disclosed an annual dividend, which will be paid on Monday, October 14th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.04 per share. The ex-dividend date is Thursday, September 26th. This represents a yield of 0.17%. Actuant’s payout ratio is 3.67%.

In other Actuant news, Director Deursen Holly Van sold 1,647 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $21.20, for a total transaction of $34,916.40. Following the transaction, the director now owns 41,165 shares in the company, valued at $872,698. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.62% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cable Hill Partners LLC bought a new stake in shares of Actuant in the 1st quarter worth $25,000. Atria Investments LLC bought a new stake in shares of Actuant in the 2nd quarter worth $103,000. Marshall Wace LLP bought a new stake in shares of Actuant in the 1st quarter worth $118,000. Jane Street Group LLC bought a new stake in shares of Actuant in the 2nd quarter worth $232,000. Finally, Everence Capital Management Inc. grew its stake in shares of Actuant by 68.2% in the 2nd quarter. Everence Capital Management Inc. now owns 13,840 shares of the industrial products company’s stock worth $343,000 after acquiring an additional 5,610 shares in 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.

Further Reading: Quiet Period Expirations Explained

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Analyst Recommendations for Actuant (NYSE:ATU)

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