Actuant (ATU) Checks "Just Ok"
Tweet
Share
E-mailGet Alerts ATU Hot Sheet
Price: $21.87 --0%
Rating Summary:
1 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Rating Summary:
1 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Join SI Premium – FREE
Jefferies maintained a Hold rating on Actuant (NYSE: ATU) and lowered its price target to $32.00 (from $34.00). Analyst R. Scott Graham said channel checks were "just ok".
"Our check-in and end-market analyses suggest growth has been driven by Enerpac's specialty distributors, while MRO growth has been more modest. But we are concerned with factory activity, which drives MRO, will weaken further. Moreover, our channel checks suggest specialty distributor sales could moderate since end-users appear unprepared to commit to projects due to uneven demand," said Graham.
He expects fiscal 2013 sales growth of 3 percent, which is below guidance.
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 $27.97 yesterday.
"Our check-in and end-market analyses suggest growth has been driven by Enerpac's specialty distributors, while MRO growth has been more modest. But we are concerned with factory activity, which drives MRO, will weaken further. Moreover, our channel checks suggest specialty distributor sales could moderate since end-users appear unprepared to commit to projects due to uneven demand," said Graham.
He expects fiscal 2013 sales growth of 3 percent, which is below guidance.
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 $27.97 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- EyePoint Inc. (EYPT) PT Lowered to $8 at Jefferies
- William Blair Downgrades Enovix Corporation (ENVX) to Market Perform
- B.Riley Downgrades Lantheus Holdings (LNTH) to Neutral
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Analyst PT ChangeRelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
