Actuant (ATU) Price Target Raised to $32.00

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Actuant (NYSE:ATU) had its price objective boosted by Robert W. Baird from $25.00 to $32.00 in a research note released on Thursday morning. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.

Several other research firms also recently weighed in on ATU. Zacks Investment Research upgraded shares of Actuant from a sell rating to a hold rating in a research report on Wednesday, May 30th. JPMorgan Chase & Co. downgraded shares of Actuant from a neutral rating to an underweight rating and set a $25.00 price target on the stock. in a research report on Thursday. They noted that the move was a valuation call. Stifel Nicolaus decreased their price target on shares of Actuant from $26.00 to $25.00 and set a hold rating on the stock in a research report on Thursday, March 22nd. KeyCorp decreased their price target on shares of Actuant from $29.00 to $27.00 and set an overweight rating on the stock in a research report on Thursday, March 22nd. Finally, ValuEngine upgraded shares of Actuant from a hold rating to a buy rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Actuant has a consensus rating of Hold and an average target price of $28.69.

Actuant opened at $29.75 on Thursday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.55 and a current ratio of 2.08. Actuant has a 1-year low of $21.50 and a 1-year high of $30.05. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 35.84, a price-to-earnings-growth ratio of 3.00 and a beta of 1.48.

Actuant (NYSE:ATU) last released its quarterly earnings results on Wednesday, June 20th. The industrial products company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $317.10 million for the quarter, compared to the consensus estimate of $306.83 million. During the same period last year, the firm earned $0.32 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. equities analysts anticipate that Actuant will post 1.06 EPS for the current year.

In other news, Director Alfredo Altavilla acquired 2,000 shares of the firm’s stock in a transaction dated Monday, May 14th. The shares were purchased at an average cost of $24.75 per share, for a total transaction of $49,500.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $49,500. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in ATU. Schwab Charles Investment Management Inc. raised its position in shares of Actuant by 7.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 548,829 shares of the industrial products company’s stock valued at $13,886,000 after purchasing an additional 36,778 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of Actuant during the 4th quarter valued at $516,000. California Public Employees Retirement System raised its position in shares of Actuant by 6.6% during the 4th quarter. California Public Employees Retirement System now owns 200,057 shares of the industrial products company’s stock valued at $5,061,000 after purchasing an additional 12,363 shares during the period. Wells Fargo & Company MN raised its position in shares of Actuant by 16.7% during the 4th quarter. Wells Fargo & Company MN now owns 283,153 shares of the industrial products company’s stock valued at $7,164,000 after purchasing an additional 40,578 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Actuant by 224.9% during the 4th quarter. Arizona State Retirement System now owns 100,542 shares of the industrial products company’s stock valued at $2,544,000 after purchasing an additional 69,597 shares during the period.

About Actuant

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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