Jefferies Reiterates a 'Buy' on Actuant (ATU); Raising Estimates of Strong Q2
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Price: $21.87 --0%
Rating Summary:
1 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 7
Rating Summary:
1 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 7
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Jefferies reiterates a 'Buy' on Actuant (NYSE: ATU) price target raised $1 to $34.
Analyst, R. Scott Graham, said, "ATU posted another high-quality quarter. Results in 2 of the 3 key ops, Industrial and Energy, were excellent, while ES (truck/auto /Europe) lagged. The smaller Electrical segment is also coming back to life. We thought guidance was fine considering the FX headwind, making the overall earnings report quite positive, in our view. We believe ATU is on a path of multi-year earnings growth, with most end-markets favorable, sales initiatives gaining traction and margins in 3 of the 4 segments still well below peak."
"We are increasing our EPS forecasts: in F3Q and F4Q by $0.01 each to
$0.60 and $0.56, respectively. We are increasing our F13 EPS estimate by $0.08 to $2.30."
For an analyst ratings summary and ratings history on Actuant click here. For more ratings news on Actuant click here.
Shares of Actuant closed at $29.43 yesterday.
Analyst, R. Scott Graham, said, "ATU posted another high-quality quarter. Results in 2 of the 3 key ops, Industrial and Energy, were excellent, while ES (truck/auto /Europe) lagged. The smaller Electrical segment is also coming back to life. We thought guidance was fine considering the FX headwind, making the overall earnings report quite positive, in our view. We believe ATU is on a path of multi-year earnings growth, with most end-markets favorable, sales initiatives gaining traction and margins in 3 of the 4 segments still well below peak."
"We are increasing our EPS forecasts: in F3Q and F4Q by $0.01 each to
$0.60 and $0.56, respectively. We are increasing our F13 EPS estimate by $0.08 to $2.30."
For an analyst ratings summary and ratings history on Actuant click here. For more ratings news on Actuant click here.
Shares of Actuant closed at $29.43 yesterday.
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