Wall Street analysts expect Actuant Co. (NYSE:ATU) to report $301.59 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Actuant’s earnings, with the lowest sales estimate coming in at $298.40 million and the highest estimate coming in at $305.20 million. Actuant posted sales of $317.10 million in the same quarter last year, which would indicate a negative year over year growth rate of 4.9%. The business is scheduled to report its next quarterly earnings report on Wednesday, June 19th.
According to Zacks, analysts expect that Actuant will report full year sales of $1.16 billion for the current fiscal year, with estimates ranging from $1.15 billion to $1.17 billion. For the next financial year, analysts anticipate that the business will report sales of $1.19 billion, with estimates ranging from $1.16 billion to $1.23 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Actuant.
Actuant (NYSE:ATU) last released its earnings results on Thursday, March 21st. The industrial products company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $271.90 million for the quarter, compared to the consensus estimate of $274.44 million. Actuant had a negative net margin of 1.97% and a positive return on equity of 13.28%. Actuant’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS.
A number of research firms have recently weighed in on ATU. Maxim Group reaffirmed a “positive” rating on shares of Actuant in a research note on Thursday, March 21st. BMO Capital Markets reiterated a “hold” rating and issued a $21.00 price target on shares of Actuant in a research note on Monday, January 28th. Finally, JPMorgan Chase & Co. upgraded Actuant from an “underweight” rating to a “neutral” rating and increased their price target for the company from $19.00 to $23.00 in a research note on Monday, January 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $25.13.
Shares of NYSE:ATU traded up $0.11 during midday trading on Thursday, hitting $25.98. 347,882 shares of the stock were exchanged, compared to its average volume of 224,498. The company has a market capitalization of $1.60 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.74 and a beta of 1.63. The company has a quick ratio of 1.77, a current ratio of 2.35 and a debt-to-equity ratio of 0.78. Actuant has a twelve month low of $19.07 and a twelve month high of $31.00.
In other news, VP Roger Roundhouse sold 10,266 shares of the stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $22.59, for a total transaction of $231,908.94. Following the sale, the vice president now owns 70,476 shares in the company, valued at $1,592,052.84. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.62% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan acquired a new stake in Actuant in the fourth quarter valued at $370,000. Vanguard Group Inc. boosted its holdings in Actuant by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,073,567 shares of the industrial products company’s stock worth $169,454,000 after acquiring an additional 101,101 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in Actuant by 94.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 163,528 shares of the industrial products company’s stock worth $3,432,000 after acquiring an additional 79,540 shares during the period. Morgan Stanley boosted its holdings in Actuant by 145.8% in the 3rd quarter. Morgan Stanley now owns 346,185 shares of the industrial products company’s stock worth $9,658,000 after acquiring an additional 205,368 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Actuant by 8.9% in the 3rd quarter. Legal & General Group Plc now owns 144,535 shares of the industrial products company’s stock worth $4,030,000 after acquiring an additional 11,866 shares during the period.
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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