Gabelli Downgrades Actuant (ATU) to Hold on Valuation
- Square (SQ) to Acquire Afterpay for $29B in All Stock Deal
- Wall Street falls with Amazon; S&P 500 posts sixth straight month of gains
- Amazon (AMZN) Plunges After Missing Sales and Guidance Expectations, Analysts Slash PTs to Reflect Weaker Guidance
- Pinterest (PINS) Tops Profit and Sales Views, But Shares Plunges Over 20% on a Big Monthly User Miss to Prompt Two Downgrades
- 'I'm CEO.' New Book Outlines Merger Conversations Between Elon Musk and Tim Cook
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
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."
Shares of Actuant closed at $26.19 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Siam Cement PCL (SCC:TB) (SCVUF) PT Lowered to THB500 at CLSA
- Pola Orbis Holdings Inc. (4927:JP) (PORBF) PT Lowered to JPY3,200 at CLSA
- Hotel Shilla Co Ltd. (008770:KS) PT Raised to KRW85,000 at Morgan Stanley
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Sign 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!