Analysts at Jefferies downgraded Actuant Corporation ATU 4.29% Friday from Buy to Hold and setting a $30.00 price target. Actuant is a diversified manufacturing and distributing company that produces a wide range of industrial equipment, including hydraulic and mechanical tools. Jefferies analysts expressed their concern that Actuant’s earnings will continue to lag for the third straight year.

Modest Upside

Actuant stock was down 4 percent Friday, recently trading at $26.87. Jefferies’ $30 price target represents about an 11.5 percent upside for the stock from current levels. Actuant stock has had a bad 2014, down more than 26 percent yea- to-date.

Insider Selling

In September of 2014, Actuant director Robert Arzbaecher sold more than $2.1 million worth of Actuant stock at a price of around $31.00.

Other Analyst Action

Jefferies was not the only firm that weighed in on Actuant Friday…

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