RBC Capital Reiterates Sector Perform Rating on Actuant (ATU) Ahead of 4Q Report

September 18, 2019 6:56 AM EDT
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Price: $21.87 --0%

Rating Summary:
    1 Buy, 13 Hold, 2 Sell

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RBC Capital analyst Deane Dray reiterated a Sector Perform rating and $24.00 price target on Actuant (NYSE: ATU) ahead of the company's 4Q earnings report. Actuant will report earnings on Sept-26. Investors will be focused on F2020 guidance and the organic growth expectations for the RemainCo tools business.

Dray is expecting F4Q19 EPS of $0.17 vs. $0.18 consensus and $0.16-$0.20 guidance. While Dray does not expect F4Q19 to be a complete afterthought, expectations is that F2020 guidance ranges will be the key focal point. RBC Capital is expecting management to assume a slow-growth macro, with sustained positive core growth in tools driven by commercial actions, new product development, and positive pricing.

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 $25.42 yesterday.

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