Actuant (NASDAQ:EPAC) released its earnings results on Thursday. The company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.03), Briefing.com reports. The firm had revenue of $133.40 million for the quarter, compared to analysts’ expectations of $136.58 million. During the same period in the prior year, the company earned $0.12 earnings per share. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis.
EPAC opened at $15.91 on Friday. The business has a 50 day simple moving average of $22.39. Actuant has a 12 month low of $13.28 and a 12 month high of $27.94.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Actuant from a “hold” rating to a “strong-buy” rating and set a $29.00 target price for the company in a research report on Tuesday, December 10th. Stifel Nicolaus reduced their target price on shares of Actuant from $24.00 to $22.00 and set a “hold” rating for the company in a research report on Friday. Wells Fargo & Co reduced their target price on shares of Actuant from $25.00 to $19.50 and set an “equal weight” rating for the company in a research report on Monday, March 16th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of Actuant in a research report on Wednesday.
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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