KeyCorp Reiterates Buy Rating for Actuant Corporation (ATU)

Actuant Corporation (NYSE:ATU)‘s stock had its “buy” rating reissued by stock analysts at KeyCorp in a report issued on Sunday. They currently have a $29.00 price objective on the industrial products company’s stock. KeyCorp’s price objective points to a potential upside of 14.40% from the stock’s previous close.

Several other equities analysts have also recently commented on ATU. BidaskClub cut shares of Actuant Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. BMO Capital Markets boosted their price target on shares of Actuant Corporation from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Friday, August 18th. Royal Bank Of Canada restated a “hold” rating and set a $24.00 price target on shares of Actuant Corporation in a report on Wednesday, October 25th. Zacks Investment Research upgraded shares of Actuant Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, SunTrust Banks, Inc. restated a “hold” rating and set a $23.00 price target on shares of Actuant Corporation in a report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Actuant Corporation has an average rating of “Hold” and a consensus target price of $25.00.

Actuant Corporation (NYSE:ATU) opened at $25.35 on Friday. Actuant Corporation has a 52-week low of $21.60 and a 52-week high of $29.80. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.33 and a current ratio of 1.71. The firm has a market cap of $1,516.44, a P/E ratio of 30.91, a price-to-earnings-growth ratio of 2.51 and a beta of 1.64.

Actuant Corporation (NYSE:ATU) last posted its quarterly earnings data on Wednesday, September 27th. The industrial products company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.02). Actuant Corporation had a positive return on equity of 9.43% and a negative net margin of 6.04%. The firm had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $265.33 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. equities analysts anticipate that Actuant Corporation will post 1.08 earnings per share for the current year.

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In related news, VP Ted Wozniak sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $26.19, for a total value of $130,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.00% of the company’s stock.

Large investors have recently modified their holdings of the stock. Pacad Investment Ltd. boosted its holdings in Actuant Corporation by 30.3% in the second quarter. Pacad Investment Ltd. now owns 5,080 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 1,180 shares in the last quarter. US Bancorp DE boosted its holdings in Actuant Corporation by 3.2% in the second quarter. US Bancorp DE now owns 6,173 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 190 shares in the last quarter. SG Americas Securities LLC bought a new stake in Actuant Corporation in the third quarter worth $162,000. Public Employees Retirement System of Ohio boosted its holdings in Actuant Corporation by 6.3% in the first quarter. Public Employees Retirement System of Ohio now owns 7,104 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 420 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in Actuant Corporation by 4.0% in the second quarter. Amalgamated Bank now owns 8,183 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 314 shares in the last quarter.

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.

Analyst Recommendations for Actuant Corporation (NYSE:ATU)

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