Aegis Capital Sees Earnings Ramp at Actuant (ATU)

Aegis Capital analyst Igor Maryasis reiterated a Buy rating and $30 price target on Actuant (NYSE: ATU) saying Q1 results pointed to further signs of stabilization at the company's key end-markets and reaffirmed the firm's expectations for earnings rebound beginning in the second-half of FY17.

"We anticipate the earnings ramp to be driven by a) sharply improving YoY comps in all three segments; b) backend loaded restructuring savings; and c) product range expansion at Industrial segment including 2nd tier brands in Americas (Simplex) and Europe (Larzep)," Maryasis commented.

"This could be further accelerated by any recovery in industrial activity in the US, which is not currently reflected in the company’s guidance and our estimates," he added.

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 $26.75 yesterday.

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