Actuant (NASDAQ:EPAC) announced its quarterly earnings data on Thursday. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17), Briefing.com reports. The company had revenue of $101.90 million for the quarter, compared to analysts’ expectations of $125.85 million. The firm’s revenue was down 42.8% on a year-over-year basis.
Shares of Actuant stock opened at $16.64 on Friday. Actuant has a 52-week low of $13.28 and a 52-week high of $27.94. The company has a 50 day moving average of $17.28 and a 200 day moving average of $20.54.
A number of research analysts recently weighed in on the stock. Wells Fargo & Co dropped their price objective on shares of Actuant from $25.00 to $19.50 and set an “equal weight” rating for the company in a report on Monday, March 16th. Stifel Nicolaus dropped their price objective on shares of Actuant from $24.00 to $22.00 and set a “hold” rating for the company in a report on Friday, March 20th. Gabelli upgraded shares of Actuant from a “hold” rating to a “buy” rating in a report on Monday, March 23rd. G.Research upgraded shares of Actuant from a “hold” rating to a “buy” rating in a report on Monday, March 23rd. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of Actuant in a research note on Wednesday, March 18th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $24.13.
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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