Equities analysts expect Actuant Co. (NYSE:ATU) to post $305.93 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Actuant’s earnings, with the highest sales estimate coming in at $308.52 million and the lowest estimate coming in at $303.04 million. Actuant posted sales of $295.43 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.6%. The business is scheduled to report its next earnings results before the market opens on Wednesday, June 20th.
According to Zacks, analysts expect that Actuant will report full year sales of $1.15 billion for the current financial year, with estimates ranging from $1.14 billion to $1.16 billion. For the next financial year, analysts expect that the company will post sales of $1.20 billion per share, with estimates ranging from $1.19 billion to $1.20 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Actuant.
Get Actuant alerts:Actuant (NYSE:ATU) last announced its quarterly earnings results on Wednesday, March 21st. The industrial products company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). Actuant had a positive return on equity of 9.21% and a negative net margin of 7.86%. The business had revenue of $275.20 million for the quarter, compared to analyst estimates of $267.57 million. During the same quarter last year, the company earned $0.11 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year.
A number of research analysts recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Actuant from $26.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, March 22nd. Robert W. Baird reiterated a “buy” rating and issued a $25.00 target price on shares of Actuant in a research note on Thursday, March 22nd. BMO Capital Markets lowered their target price on shares of Actuant from $25.00 to $24.00 and set a “market perform” rating on the stock in a research note on Thursday, March 22nd. Zacks Investment Research upgraded shares of Actuant from a “sell” rating to a “hold” rating in a research note on Wednesday, May 30th. Finally, KeyCorp lowered their target price on shares of Actuant from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Thursday, March 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $24.44.
In related news, Director Alfredo Altavilla purchased 2,000 shares of Actuant stock in a transaction on Monday, May 14th. The stock was purchased at an average cost of $24.75 per share, with a total value of $49,500.00. Following the acquisition, the director now directly owns 2,000 shares in the company, valued at $49,500. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of ATU. Schwab Charles Investment Management Inc. boosted its holdings in Actuant by 7.2% in 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 Actuant in the 4th quarter valued at $516,000. California Public Employees Retirement System boosted its holdings in Actuant by 6.6% in 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 boosted its holdings in Actuant by 16.7% in 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 boosted its holdings in Actuant by 224.9% in 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.
Actuant traded up $0.05, reaching $25.95, during midday trading on Friday, Marketbeat Ratings reports. The stock had a trading volume of 446,100 shares, compared to its average volume of 461,422. Actuant has a 1-year low of $21.50 and a 1-year high of $27.95. The company has a current ratio of 2.15, a quick ratio of 1.55 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $1.55 billion, a PE ratio of 30.66, a PEG ratio of 2.69 and a beta of 1.48.
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.
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