FY2018 EPS Estimates for Actuant Co. (ATU) Cut by Gabelli

Actuant Co. (NYSE:ATU) – Gabelli reduced their FY2018 earnings per share (EPS) estimates for Actuant in a note issued to investors on Thursday, according to Zacks Investment Research. Gabelli analyst J. Bergner now forecasts that the industrial products company will post earnings per share of $1.25 for the year, down from their prior forecast of $1.30. Gabelli also issued estimates for Actuant’s FY2019 earnings at $1.45 EPS and FY2020 earnings at $1.65 EPS.

Actuant (NYSE:ATU) last posted its quarterly earnings data on Wednesday, March 22nd. The industrial products company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Actuant had a positive return on equity of 12.92% and a negative net margin of 10.42%. The firm had revenue of $258.90 million for the quarter, compared to the consensus estimate of $250.31 million. During the same period in the prior year, the company earned $0.07 EPS. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year.

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Earnings History and Estimates for Actuant (NYSE:ATU)

Other analysts also recently issued research reports about the company. Aegis reiterated a “buy” rating and set a $30.00 price target on shares of Actuant in a research report on Tuesday, December 27th. Zacks Investment Research downgraded Actuant from a “buy” rating to a “hold” rating in a research report on Friday, March 24th. Royal Bank of Canada restated a “hold” rating and issued a $28.00 target price on shares of Actuant in a research report on Thursday, March 23rd. Tudor Pickering initiated coverage on Actuant in a research report on Thursday, March 23rd. They issued a “hold” rating for the company. Finally, BMO Capital Markets restated a “hold” rating and issued a $25.00 target price on shares of Actuant in a research report on Wednesday, March 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Actuant has an average rating of “Hold” and a consensus price target of $26.78.

Actuant (NYSE:ATU) traded down 0.59% during midday trading on Friday, reaching $25.15. 302,696 shares of the company traded hands. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 30.67 and a beta of 1.57. Actuant has a one year low of $20.54 and a one year high of $29.80. The firm has a 50-day moving average price of $26.33 and a 200-day moving average price of $25.90.

In other news, VP Stephen Rennie sold 2,647 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $25.20, for a total transaction of $66,704.40. Following the transaction, the vice president now directly owns 55,818 shares of the company’s stock, valued at $1,406,613.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Ted Wozniak sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $25.64, for a total value of $25,640.00. Following the transaction, the vice president now directly owns 82,496 shares in the company, valued at $2,115,197.44. The disclosure for this sale can be found here. Insiders sold 4,147 shares of company stock valued at $105,009 in the last quarter. Corporate insiders own 4.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Great Lakes Advisors LLC boosted its position in Actuant by 21.1% in the third quarter. Great Lakes Advisors LLC now owns 344,767 shares of the industrial products company’s stock valued at $8,012,000 after buying an additional 60,003 shares during the period. Oppenheimer & Co. Inc. boosted its position in Actuant by 0.3% in the third quarter. Oppenheimer & Co. Inc. now owns 52,588 shares of the industrial products company’s stock valued at $1,222,000 after buying an additional 150 shares during the period. Pzena Investment Management LLC boosted its position in Actuant by 6.4% in the third quarter. Pzena Investment Management LLC now owns 2,947,227 shares of the industrial products company’s stock valued at $68,494,000 after buying an additional 177,721 shares during the period. JPMorgan Chase & Co. boosted its position in Actuant by 63.4% in the third quarter. JPMorgan Chase & Co. now owns 480,347 shares of the industrial products company’s stock valued at $11,163,000 after buying an additional 186,288 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in Actuant by 1.8% in the third quarter. UBS Asset Management Americas Inc. now owns 44,266 shares of the industrial products company’s stock valued at $1,029,000 after buying an additional 800 shares during the period.

About Actuant

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.

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