Actuant Corporation (ATU) is Downgraded by Wells Fargo to Market Perform

Actuant Corporation (ATU) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Oct 7, 2016.

On the company’s financial health, Actuant Corporation reported $0.30 EPS for the quarter, based on the information available during the earnings call on Sep 28, 2016. Analyst had a consensus estimate of $0.30. The company had revenue of $276.00 million for the quarter, compared to analysts expectations of $277.97 million. The company’s revenue was down -8.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.37 EPS.

Actuant Corporation closed down -0.13 points or -0.55% at $23.45 with 8,09,051 shares getting traded on Tuesday. Post opening the session at $23.57, the shares hit an intraday low of $23.318 and an intraday high of $23.83 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Jul 13, 2016, Randal W Baker (CEO) purchased 10,795 shares at $23.14 per share price. According to the SEC, on Apr 6, 2016, Eugene Edward Skogg (EVP-Human Resources) purchased 10,000 shares at $24.46 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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