FBR Capital Reiterates an 'Outperform/Top Pick' on Actuant (ATU); F1Q11 Preview: Expect Upside Results and Upbeat Outlook

December 14, 2010 8:11 AM EST
Get Alerts ATU Hot Sheet
Price: $21.87 --0%

Rating Summary:
    1 Buy, 13 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 38 | Down: 18 | New: 7
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FBR Capital reiterates an 'Outperform/Top Pick' rating on Actuant (NYSE: ATU), raises PT to $29.

FBR analyst says, "We have a positive bias on Actuant shares heading into F1Q11 earnings on Dec 16 based on our expectation for upside earnings and positive outlook commentary. We see upside to FBR/consensus EPS estimate of $0.35/$0.34 primarily from better trends at Actuant’s highly profitable Enerpac (hydraulic tools, 28% of revenues), where our channel checks and proxy industrial indicators in Industrial Production and Grainger monthly sales suggest solid trends through the quarter...We are increasing our 2011/2012 EPS estimates to $1.55/$1.80 to reflect the Mastervolt acquisition and better underlying operating trends."

For more ratings news on Actuant click here and for the rating history of Actuant click here.

Shares of Actuant closed at $26.91 yesterday.

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