What’s Actuant Corporation (ATU) Downside After Forming Bearish Double Bottom?

September 17, 2017 - By Migdalia James

Investors sentiment decreased to 1.12 in 2016 Q4. Its down 0.16, from 1.28 in 2016Q3. It is negative, 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.
Blackrock holds 0% or 31,020 shares. Intl Group Inc holds 43,103 shares. Champlain Invest Prtn Limited Company has 1.80M shares for 0.65% of their portfolio. Moreover, Bnp Paribas Arbitrage has 0% invested in Actuant Corporation (NYSE:ATU) for 12,699 shares. Gotham Asset Mgmt Ltd Liability Com has 0.01% invested in Actuant Corporation (NYSE:ATU) for 35,735 shares. Cubist Systematic Strategies stated it has 3,967 shares. Barclays Public Limited Co reported 9,422 shares stake. Louisiana State Employees Retirement Sys invested in 23,700 shares. Aberdeen Asset Mngmt Public Limited Co Uk owns 1.56 million shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% or 1,452 shares. Vanguard Group invested 0.01% of its portfolio in Actuant Corporation (NYSE:ATU). First Manhattan Co has invested 0.24% in Actuant Corporation (NYSE:ATU). Marshall Wace Llp stated it has 0.01% in Actuant Corporation (NYSE:ATU). Cipher Capital Lp accumulated 203,263 shares. California Employees Retirement invested in 191,500 shares.

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

The chart of Actuant Corporation (ATU) shows a double bottom with $24.18 target or 7.00 % below today’s $26.00 share price. The 5 months chart pattern indicates high risk for the $1.55B company. It was reported on Sep, 17 by Finviz.com. If the $24.18 price target is reached, the company will be worth $108.50 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 0.19% or $0.05 on September 15, reaching $26. About 1.25 million shares traded or 225.33% up from the average. Actuant Corporation (NYSE:ATU) has risen 0.16% since September 17, 2016 and is uptrending. It has underperformed by 16.54% the S&P500.

Wall Street await Actuant Corporation (NYSE:ATU) to release earnings on September, 27 before the open. Analysts forecast earnings per share of $0.21, down exactly $0.09 or 30.00 % from 2014’s $0.3 EPS. The expected ATU’s profit could reach $12.52 million giving the stock 30.95 P/E in the case that $0.21 earnings per share is reported. After posting $0.32 EPS for the previous quarter, Actuant Corporation’s analysts now forecast -34.38 % negative EPS growth.

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 35 analyst reports since August 26, 2015 according to SRatingsIntel. Barclays Capital downgraded the shares of ATU in report on Monday, October 24 to “Underweight” rating. The firm earned “Neutral” rating on Tuesday, March 8 by SunTrust. On Friday, September 25 the stock rating was initiated by Barclays Capital with “Equal-Weight”. The firm has “Sector Perform” rating given on Friday, January 13 by RBC Capital Markets. As per Thursday, June 23, the company rating was maintained by RBC Capital Markets. Stifel Nicolaus maintained Actuant Corporation (NYSE:ATU) on Thursday, June 22 with “Hold” rating. Gabelli upgraded Actuant Corporation (NYSE:ATU) on Thursday, June 22 to “Buy” rating. The company was initiated on Friday, December 18 by Acumen Capital. RBC Capital Markets maintained the stock with “Hold” rating in Friday, March 24 report. Zacks downgraded Actuant Corporation (NYSE:ATU) on Wednesday, August 26 to “Hold” rating.

More notable recent Actuant Corporation (NYSE:ATU) news were published by: Biztimes.com which released: “Actuant consolidates leadership to improve cost structure” on September 15, 2017, also Twst.com with their article: “Actuant Corporation: Actuant Signs Agreements to Divest Viking SeaTech and …” published on August 16, 2017, Businesswire.com published: “Actuant Announces Leadership Consolidation” on September 14, 2017. More interesting news about Actuant Corporation (NYSE:ATU) were released by: Nasdaq.com and their article: “Actuant Corp. Cuts FY17 Guidance – Quick Facts” published on June 21, 2017 as well as Valuewalk.com‘s news article titled: “Actuant Corporation (ATU) – Short Thesis” with publication date: May 12, 2017.

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