Actuant (NYSE:ATU) Trending Strong on Enerpac, Grainger

FBR Capital sees Actuant (NYSE:ATU) continuing to perform strongly and expect earnings to be positive with their December 16 report.

FBR said, "We have a positive bias on Actuant shares heading into F1Q11 earnings on Dec 16 based on our expectation for upside earnings and positive outlook commentary. We see upside to FBR/consensus EPS estimate of $0.35/$0.34 primarily from better trends at Actuant’s highly profitable Enerpac (hydraulic tools, 28% of revenues), where our channel checks and proxy industrial indicators in Industrial Production and Grainger monthly sales suggest solid trends through the quarter...We are increasing our 2011/2012 EPS estimates to $1.55/$1.80 to reflect the Mastervolt acquisition and better underlying operating trends."

FBR Capital reiterates an "Outperform/Top Pick" rating on Actuant, which closed Tuesday at $27.69, gaining $0.78, or 2.90 percent. Their price target on them was raised to $29.