Gabelli Downgrades Actuant (ATU) to Hold on Valuation

September 17, 2019 8:52 AM EDT
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: 18 | Down: 11 | New: 8
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Gabelli analyst Justin Bergner downgraded Actuant (NYSE: ATU) from Buy to Hold with a price target of $29.00.

The analyst comments "We continue to see a buyer as able to pay $30 for remainco (14.5x FY 8/21 EBITDA using PF 8/31/19 net debt) should Actuant be willing to sell Industrial Tools & Services and the retained EC&S Cortland business, Emerson, Stanley Black & Decker and international tools players could be interested. However, the recent move up in the stock from $22-26 could make a deal more challenging by limiting the effective percentage premium."

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 $26.19 yesterday.

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