RBC Capital Reiterates Sector Perform Rating on Actuant (ATU) Ahead of 4Q Report
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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.
Shares of Actuant closed at $25.42 yesterday.
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