JPMorgan Chase & Co. Downgrades Actuant (ATU) to Underweight

Actuant (NYSE:ATU) was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report released on Thursday.

A number of other equities analysts have also commented on ATU. Robert W. Baird lifted their price target on shares of Actuant from $25.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, June 21st. TheStreet raised shares of Actuant from a “c-” rating to a “b-” rating in a research report on Wednesday, June 20th. Royal Bank of Canada lifted their price target on shares of Actuant to $28.00 and gave the company a “sector perform” rating in a research report on Thursday, June 21st. Zacks Investment Research raised shares of Actuant from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Friday, June 22nd. Finally, KeyCorp lifted their price target on shares of Actuant from $27.00 to $32.50 and gave the company an “overweight” rating in a research report on Thursday, June 21st. Three analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $28.69.

Actuant opened at $29.35 on Thursday, Marketbeat Ratings reports. Actuant has a 12 month low of $21.50 and a 12 month high of $30.05. The company has a market capitalization of $1.74 billion, a PE ratio of 35.36, a PEG ratio of 1.74 and a beta of 1.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.53 and a current ratio of 2.08.

Actuant (NYSE:ATU) last released its quarterly earnings results on Wednesday, June 20th. The industrial products company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.03. Actuant had a negative net margin of 7.15% and a positive return on equity of 9.86%. The company had revenue of $317.10 million for the quarter, compared to analyst estimates of $306.83 million. During the same quarter last year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. analysts predict that Actuant will post 1.06 earnings per share for the current fiscal year.

In related news, Director Alfredo Altavilla bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The shares were acquired at an average price of $24.75 per share, with a total value of $49,500.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $49,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. boosted its stake in Actuant by 2.2% during the first quarter. Prudential Financial Inc. now owns 101,162 shares of the industrial products company’s stock worth $2,352,000 after buying an additional 2,150 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in Actuant by 3.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 76,141 shares of the industrial products company’s stock worth $1,926,000 after buying an additional 2,517 shares in the last quarter. Legal & General Group Plc boosted its stake in Actuant by 2.6% during the first quarter. Legal & General Group Plc now owns 124,801 shares of the industrial products company’s stock worth $2,881,000 after buying an additional 3,120 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Actuant by 133.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,201 shares of the industrial products company’s stock worth $157,000 after buying an additional 3,550 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Actuant by 4.2% during the first quarter. Swiss National Bank now owns 104,000 shares of the industrial products company’s stock worth $2,418,000 after buying an additional 4,200 shares in the last quarter.

Actuant Company Profile

Actuant Corporation designs, manufactures, and distributes a range of industrial products and systems worldwide. It operates through three segments: Industrial, Energy, and Engineered Solutions. The 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 under the Enerpac, Larzep, Milwaukee Cylinder, Precision-Hayes, and Simplex brand names.

Analyst Recommendations for Actuant (NYSE:ATU)

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