G.Research upgraded shares of Actuant (NASDAQ:EPAC) from a hold rating to a buy rating in a report issued on Monday morning, Zacks.com reports.
Other analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed a hold rating on shares of Actuant in a report on Wednesday, March 18th. Zacks Investment Research raised shares of Actuant from a hold rating to a strong-buy rating and set a $29.00 price target on the stock in a report on Tuesday, December 10th. Gabelli raised shares of Actuant from a hold rating to a buy rating in a report on Monday. Stifel Nicolaus reduced their price target on shares of Actuant from $24.00 to $22.00 and set a hold rating on the stock in a report on Friday, March 20th. Finally, Wells Fargo & Co reduced their price target on shares of Actuant from $25.00 to $19.50 and set an equal weight rating on the stock in a report on Monday, March 16th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $24.13.
Shares of NASDAQ EPAC opened at $17.04 on Monday. Actuant has a 12-month low of $13.28 and a 12-month high of $27.94. The firm has a 50-day simple moving average of $21.51.
Actuant (NASDAQ:EPAC) last announced its quarterly earnings results on Thursday, March 19th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.03). The business had revenue of $133.40 million for the quarter, compared to the consensus estimate of $136.58 million. During the same quarter in the previous year, the business earned $0.12 earnings per share. Actuant’s quarterly revenue was down 16.5% on a year-over-year basis.
In related news, CFO Ricky T. Dillon sold 2,128 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $23.85, for a total transaction of $50,752.80. Following the transaction, the chief financial officer now owns 47,563 shares of the company’s stock, valued at $1,134,377.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Randal W. Baker sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $25.02, for a total transaction of $375,300.00. Following the transaction, the chief executive officer now directly owns 216,326 shares in the company, valued at approximately $5,412,476.52. The disclosure for this sale can be found here.
Several institutional investors and hedge funds have recently made changes to their positions in EPAC. Point72 Hong Kong Ltd purchased a new position in shares of Actuant during the fourth quarter valued at approximately $46,000. Ladenburg Thalmann Financial Services Inc. purchased a new position in shares of Actuant during the fourth quarter valued at approximately $63,000. UBS Group AG acquired a new position in Actuant during the fourth quarter worth approximately $120,000. US Bancorp DE acquired a new position in Actuant during the fourth quarter worth approximately $196,000. Finally, PNC Financial Services Group Inc. acquired a new position in Actuant during the fourth quarter worth approximately $198,000.
Actuant Company Profile
Actuant Corp. is a diversified industrial company, which engages in the designing, manufacturing, and distribution of a broad range of industrial products and systems to various end markets. It operates through the Industrial Tools and Services; and Engineered Components and Systems segments. The Industrial Tools and Services segment supplies both products and services to a broad array of end markets, including industrial, energy, mining and production automation markets.
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