Actuant Corporation (ATU) is Initiated by Topeka Capital Markets to Hold, Price Target at $26

Actuant Corporation (ATU) was Initiated by Topeka Capital Markets to “Hold” and the brokerage firm has set the Price Target at $26. Topeka Capital Markets advised their investors in a research report released on May 26, 2016.

Many Wall Street Analysts have commented on Actuant Corporation. Actuant Corporation was Downgraded by Gabelli & Co to ” Hold” on Mar 15, 2016. Actuant Corporation was Downgraded by Sun Trust Rbsn Humphrey to ” Neutral” on Mar 8, 2016.

On the company’s financial health, Actuant Corporation reported $0.21 EPS for the quarter, based on the information available during the earnings call on Mar 16, 2016. Analyst had a consensus estimate of $0.21. The company had revenue of $263.30 million for the quarter, compared to analysts expectations of $274.54 million. The company’s revenue was down -12.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.28 EPS.

Actuant Corporation opened for trading at $26.77 and hit $27.06 on the upside on Wednesday, eventually ending the session at $27.03, with a gain of 1.62% or 0.43 points. The heightened volatility saw the trading volume jump to 4,23,377 shares. Company has a market cap of $1,592 M.

In a different news, on Apr 6, 2016, Eugene Edward Skogg (EVP-Human Resources) purchased 10,000 shares at $24.46 per share price. According to the SEC, on Apr 6, 2016, Randal W Baker (CEO) purchased 4,061 shares at $24.63 per share price. On Apr 6, 2016, Mark Sefcik (Exec VP Industrial Segment) purchased 6,500 shares at $24.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Actuant Corporation is a global diversified company that designs manufactures and distributes a range of industrial products and systems to various end markets. The Company is organized into three operating segments: Industrial Energy and Engineered Solutions. The Industrial segment is involved in the design manufacture and distribution of branded hydraulic and mechanical tools to the maintenance industrial infrastructure and production automation markets. The Energy segment provides joint integrity products and services customized offshore vessel mooring solutions as well as rope and cable solutions to the global oil & gas power generation and other energy markets. The Engineered Solutions segment provides highly engineered position and motion control systems to original equipment manufacturers (OEM) in various on and off-highway vehicle markets as well as a variety of other products to the industrial and agricultural markets.

Actuant Corporation

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