Wall Street brokerages forecast that Actuant Co. (NYSE:ATU) will report sales of $300.87 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Actuant’s earnings. The highest sales estimate is $303.80 million and the lowest is $298.40 million. Actuant posted sales of $317.10 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.1%. The business is expected to issue its next quarterly earnings report on Wednesday, June 19th.
According to Zacks, analysts expect that Actuant will report full-year sales of $1.16 billion for the current year, with estimates ranging from $1.15 billion to $1.17 billion. For the next financial year, analysts expect that the firm will post sales of $1.19 billion, with estimates ranging from $1.16 billion to $1.23 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Actuant.
Actuant (NYSE:ATU) last posted its quarterly earnings data on Thursday, March 21st. The industrial products company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.02. Actuant had a negative net margin of 1.97% and a positive return on equity of 13.28%. The company had revenue of $271.90 million during the quarter, compared to analysts’ expectations of $274.44 million. During the same period in the prior year, the company posted $0.13 earnings per share. Actuant’s revenue for the quarter was down 1.2% compared to the same quarter last year.
ATU has been the topic of several recent analyst reports. Maxim Group initiated coverage on shares of Actuant in a research report on Monday, January 28th. They set a “sell” rating on the stock. JPMorgan Chase & Co. raised shares of Actuant from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $19.00 to $23.00 in a research report on Monday, January 28th. BMO Capital Markets reissued a “hold” rating and set a $21.00 price objective on shares of Actuant in a research report on Monday, January 28th. Finally, GMP Securities reissued a “buy” rating and set a $0.75 price objective on shares of Actuant in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $22.42.
Shares of ATU traded up $0.31 during trading hours on Friday, hitting $24.50. 4,840 shares of the stock were exchanged, compared to its average volume of 181,804. Actuant has a fifty-two week low of $19.07 and a fifty-two week high of $31.00. The company has a quick ratio of 1.77, a current ratio of 2.35 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.45 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 1.58 and a beta of 1.63.
Institutional investors and hedge funds have recently bought and sold shares of the business. Cable Hill Partners LLC bought a new position in Actuant during the 1st quarter valued at about $25,000. Quantamental Technologies LLC bought a new stake in shares of Actuant during the first quarter worth $80,000. PNC Financial Services Group Inc. lifted its position in shares of Actuant by 14.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,479 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 568 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Actuant during the first quarter worth $118,000. Finally, Bank of Montreal Can lifted its position in shares of Actuant by 14.3% during the fourth quarter. Bank of Montreal Can now owns 6,234 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 778 shares during the last quarter.
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.
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