Zacks Investment Research upgraded shares of Actuant (NYSE:ATU) from a sell rating to a hold rating in a report released on Tuesday.
According to Zacks, “Actuant believes that its solid Engineered Solutions and Industrial businesses will boost its revenues and profitability in the upcoming quarters. Moreover, strategic divestitures and acquisitions are expected to reinforce the company’s competency. However, over the last three months, the stock has underperformed and looks overvalued compared to the industry. The prevalent trend of customer maintenance deferrals, scope reductions and push-outs might continue to hurt the company’s Energy business in the quarters ahead. Also, other issues such as sales mix headwinds, input price inflation or costs associated with commercial effectiveness actions might weigh over near-term margins. Over the last 60 days, Zacks Consensus Estimate for the stock has remained unchanged for both fiscal 2018 and 2019.”
Actuant (NYSE ATU) opened at $22.50 on Tuesday. Actuant has a 52 week low of $21.50 and a 52 week high of $27.95. The company has a quick ratio of 1.35, a current ratio of 1.80 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $1,422.18, a price-to-earnings ratio of -20.27, a P/E/G ratio of 2.37 and a beta of 1.56.
Actuant (NYSE:ATU) last posted its quarterly earnings data 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 negative net margin of 5.89% and a positive return on equity of 9.29%. The firm had revenue of $275.20 million during the quarter, compared to analyst estimates of $267.57 million. During the same period in the prior year, the company posted $0.11 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. equities analysts predict that Actuant will post 1.07 earnings per share for the current year.
In other Actuant news, VP Ted Wozniak sold 6,000 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $25.66, for a total value of $153,960.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its stake in shares of Actuant by 133.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,201 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 3,550 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Actuant in the 3rd quarter worth $162,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Actuant in the 4th quarter worth $240,000. Jane Street Group LLC acquired a new stake in shares of Actuant in the 3rd quarter worth $244,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Actuant in the 3rd quarter worth $270,000.
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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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