GMP Securities Reaffirms “Buy” Rating for Actuant (ATU)

Actuant (NYSE:ATU)‘s stock had its “buy” rating reissued by GMP Securities in a note issued to investors on Wednesday, AnalystRatings.com reports. They currently have a $0.75 price objective on the industrial products company’s stock. GMP Securities’ target price indicates a potential downside of 96.95% from the company’s current price.

Other research analysts have also issued research reports about the company. Maxim Group reaffirmed a “positive” rating on shares of Actuant in a research report on Thursday, March 21st. JPMorgan Chase & Co. raised Actuant from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $19.00 to $23.00 in a research report on Monday, January 28th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $21.00 price objective on shares of Actuant in a research report on Monday, January 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Actuant currently has an average rating of “Hold” and a consensus target price of $22.42.

Shares of NYSE:ATU opened at $24.56 on Wednesday. Actuant has a 52-week low of $19.07 and a 52-week high of $31.00. The company has a market capitalization of $1.51 billion, a PE ratio of 22.53, a PEG ratio of 1.73 and a beta of 1.63. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.35 and a quick ratio of 1.77.

Actuant (NYSE:ATU) last announced its earnings results on Thursday, March 21st. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. Actuant had a positive return on equity of 13.28% and a negative net margin of 1.97%. The firm had revenue of $271.90 million during the quarter, compared to analyst estimates of $274.44 million. During the same quarter in the prior year, the company earned $0.13 EPS. The business’s revenue was down 1.2% compared to the same quarter last year. Equities research analysts forecast that Actuant will post 1.17 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Quantamental Technologies LLC purchased a new stake in Actuant during the 1st quarter valued at $80,000. PNC Financial Services Group Inc. boosted its stake in Actuant by 14.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,479 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 568 shares during the last quarter. Bank of Montreal Can boosted its stake in Actuant by 14.3% during the 4th quarter. Bank of Montreal Can now owns 6,234 shares of the industrial products company’s stock valued at $131,000 after purchasing an additional 778 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in Actuant during the 1st quarter valued at $201,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Actuant during the 1st quarter valued at $236,000.

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.

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Analyst Recommendations for Actuant (NYSE:ATU)

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