Citing the recent $150 million acquisition of Mastervolt as a strategic good fit, FBR Capital says they're maintaining their "Outperform/Top Pick" rating on Actuant (NYSE:ATU).
"We view Actuant’s $150 million acquisition of Mastervolt, a European producer of electric inverters for photovoltaic and marine applications, as a good strategic fit adding exposure to secular growth trends in solar, and a positive for shares...We continue to like Actuant’s positioning in mid-to-late-cycle markets and see upside to estimates as beaten-down businesses in truck, auto, RV, and Energy recover," said FBR.
Actuant closed up Wednesday at $24.45, gaining $0.82, or 3.47 percent. FBR has a price target of $26 on them.
Trading volume was almost three times the daily 3-month average.
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