What Next for Actuant Corporation (ATU) After Forming Bearish Double Bottom Chart Pattern?

September 12, 2017 - By Nellie Frank

Investors sentiment decreased to 1.12 in Q4 2016. Its down 0.16, from 1.28 in 2016Q3. It worsened, as 25 investors sold Actuant Corporation shares while 51 reduced holdings. 33 funds opened positions while 52 raised stakes. 59.93 million shares or 1.53% less from 60.86 million shares in 2016Q3 were reported.
Southeastern Asset Management Tn invested in 5.92 million shares or 1.48% of the stock. Swiss Bancshares stated it has 95,700 shares. Frontier Mngmt Company Ltd reported 1.05 million shares stake. Mason Street Lc reported 12,884 shares stake. Graham Cap Management L P has invested 0.07% of its portfolio in Actuant Corporation (NYSE:ATU). Thrivent Fincl For Lutherans stated it has 31,750 shares or 0% of all its holdings. Ig Inv Ltd reported 65,300 shares. The New York-based Jpmorgan Chase has invested 0% in Actuant Corporation (NYSE:ATU). Princeton Alpha Mgmt Lp accumulated 0.09% or 16,035 shares. Aperio Group Ltd Liability Corp accumulated 18,697 shares or 0% of the stock. Amalgamated Bank accumulated 7,884 shares. Mondrian Ptnrs Limited reported 1.59 million shares stake. Blackrock Invest Mngmt Ltd has invested 0.01% in Actuant Corporation (NYSE:ATU). California-based California Pub Employees Retirement Systems has invested 0.01% in Actuant Corporation (NYSE:ATU). Ny State Common Retirement Fund has invested 0% of its portfolio in Actuant Corporation (NYSE:ATU).

Since March 29, 2017, it had 0 insider purchases, and 3 insider sales for $105,009 activity. Wozniak Ted also sold $12,665 worth of Actuant Corporation (NYSE:ATU) on Wednesday, April 5. The insider Rennie Stephen sold 2,647 shares worth $66,704.

The chart of Actuant Corporation (ATU) shows a double bottom with $23.32 target or 8.00 % below today’s $25.35 share price. The 9 months chart pattern indicates high risk for the $1.51B company. It was reported on Sep, 12 by Finviz.com. If the $23.32 price target is reached, the company will be worth $120.80M less. Double bottoms are rare but powerful chart patterns.

About 82,327 shares traded. Actuant Corporation (NYSE:ATU) has risen 0.16% since September 12, 2016 and is uptrending. It has underperformed by 16.54% the S&P500.

Investors wait Actuant Corporation (NYSE:ATU) to report on September, 27 before the open. its quarterly earnings Wall Street analysts expect $0.21 earnings per share, down $0.09 or 30.00 % from last year’s $0.3 same quarter earnings. This translates into $12.51 million profit for ATU giving the stock a 30.18 P/E. This is assuming the current $0.21 EPS is accurate. Actuant Corporation’s Wall Street analysts see -34.38 % negative EPS growth, taking into account the $0.32 EPS reproted in the previous quarter,

Actuant Corporation (NYSE:ATU) Ratings Coverage

Among 18 analysts covering Actuant (NYSE:ATU), 6 have Buy rating, 0 Sell and 12 Hold. Therefore 33% are positive. Actuant had 34 analyst reports since August 26, 2015 according to SRatingsIntel. The stock of Actuant Corporation (NYSE:ATU) has “Buy” rating given on Thursday, June 22 by Gabelli. As per Friday, October 7, the company rating was downgraded by Wells Fargo. The firm has “Hold” rating by Gabelli given on Tuesday, March 15. On Wednesday, August 26 the stock rating was downgraded by Zacks to “Hold”. The firm has “Hold” rating given on Monday, June 5 by RBC Capital Markets. The firm has “Speculative Buy” rating given on Friday, December 18 by Acumen Capital. The stock of Actuant Corporation (NYSE:ATU) has “Underweight” rating given on Monday, October 24 by Barclays Capital. The company was maintained on Tuesday, July 25 by RBC Capital Markets. The company was downgraded on Friday, January 13 by RBC Capital Markets. On Wednesday, June 21 the stock rating was upgraded by J.P. Morgan to “Hold”.

More recent Actuant Corporation (NYSE:ATU) news were published by: Valuewalk.com which released: “Actuant Corporation (ATU) – Short Thesis” on May 12, 2017. Also Businesswire.com published the news titled: “Actuant Signs Agreements to Divest Viking SeaTech and Acquire Mirage Machines …” on August 16, 2017. Streetinsider.com‘s news article titled: “Form 8-K ACTUANT CORP For: Sep 01” with publication date: September 08, 2017 was also an interesting one.

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