Actuant (NASDAQ:EPAC) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Actuant (NASDAQ:EPAC) from a buy rating to a hold rating in a research report report published on Monday, Zacks.com reports. The brokerage currently has $18.00 price objective on the stock.

According to Zacks, “Enerpac Tool is poised to gain from product development — with six new categories added in third-quarter fiscal 2020, efforts to improve commercial effectiveness, and restructuring measures. Also, shareholder-friendly policies and acquired assets might be beneficial. In the third quarter, the company’s earnings and sales missed the Zacks Consensus Estimate by 150% and 15.47%, respectively. Results suffered heavily from the adverse impacts of the pandemic. For fiscal 2020, the company kept its projections suspended. Beside the pandemic issues, it faces risks from high debt levels and weak abilities to repay its financial obligations. International exposure too is concerning. In the past three months, the stock has underperformed the industry. In the past seven days, its earnings estimates for the fourth quarter have been lowered.”

A number of other equities research analysts have also commented on EPAC. Wells Fargo & Co decreased their price target on Actuant from $25.00 to $19.50 and set an equal weight rating on the stock in a research report on Monday, March 16th. Gabelli upgraded Actuant from a hold rating to a buy rating in a research report on Monday, March 23rd. G.Research upgraded Actuant from a hold rating to a buy rating in a research report on Monday, March 23rd. Stifel Nicolaus decreased their price target on Actuant from $24.00 to $22.00 and set a hold rating on the stock in a research report on Friday, March 20th. Finally, Royal Bank of Canada restated a hold rating on shares of Actuant in a research report on Wednesday, March 18th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $21.38.

Shares of EPAC opened at $17.20 on Monday. Actuant has a 1 year low of $13.28 and a 1 year high of $27.94. The stock has a 50 day simple moving average of $17.41 and a 200-day simple moving average of $20.30.

Actuant (NASDAQ:EPAC) last issued its earnings results on Thursday, June 25th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.17). The firm had revenue of $101.90 million during the quarter, compared to analyst estimates of $125.85 million. The firm’s revenue was down 42.8% compared to the same quarter last year.

In other news, Director E James Ferland, Jr. acquired 5,000 shares of Actuant stock in a transaction dated Monday, June 29th. The stock was bought at an average price of $18.10 per share, for a total transaction of $90,500.00. Following the completion of the acquisition, the director now directly owns 42,199 shares in the company, valued at approximately $763,801.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Several large investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of Actuant in the first quarter valued at approximately $496,000. SG Americas Securities LLC acquired a new stake in shares of Actuant in the first quarter valued at approximately $321,000. Ironwood Investment Counsel LLC raised its position in shares of Actuant by 10.9% in the first quarter. Ironwood Investment Counsel LLC now owns 17,741 shares of the company’s stock valued at $293,000 after buying an additional 1,750 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Actuant in the first quarter valued at approximately $360,000. Finally, Raymond James Trust N.A. acquired a new stake in shares of Actuant in the first quarter valued at approximately $265,000.

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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