Enerpac Tool Group (NYSE:EPAC) Shares Gap Down – Here’s What Happened
by Teresa Graham · The Cerbat GemEnerpac Tool Group Corp. (NYSE:EPAC – Get Free Report)’s share price gapped down prior to trading on Friday . The stock had previously closed at $39.42, but opened at $38.55. Enerpac Tool Group shares last traded at $38.40, with a volume of 3,087 shares.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on EPAC. Weiss Ratings reiterated a “hold (c+)” rating on shares of Enerpac Tool Group in a research report on Monday. Zacks Research upgraded shares of Enerpac Tool Group to a “hold” rating in a research note on Monday, September 8th. Wall Street Zen downgraded shares of Enerpac Tool Group from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Roth Capital set a $51.00 price target on Enerpac Tool Group and gave the company a “buy” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Enerpac Tool Group presently has a consensus rating of “Moderate Buy” and an average price target of $52.00.
Read Our Latest Report on Enerpac Tool Group
Enerpac Tool Group Stock Performance
The company has a market capitalization of $2.05 billion, a P/E ratio of 23.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.14 and a current ratio of 2.83. The business’s fifty day simple moving average is $39.11 and its 200-day simple moving average is $40.13.
Enerpac Tool Group (NYSE:EPAC – Get Free Report) last issued its quarterly earnings data on Wednesday, December 17th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $144.21 million for the quarter, compared to analysts’ expectations of $146.45 million. Enerpac Tool Group had a net margin of 14.64% and a return on equity of 22.46%. During the same quarter in the previous year, the business earned $0.40 EPS. As a group, equities analysts anticipate that Enerpac Tool Group Corp. will post 1.78 earnings per share for the current fiscal year.
Insider Activity at Enerpac Tool Group
In other news, CEO Paul Sternlieb sold 2,700 shares of the stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $44.00, for a total transaction of $118,800.00. Following the completion of the transaction, the chief executive officer directly owned 328,342 shares in the company, valued at approximately $14,447,048. This represents a 0.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.
Hedge Funds Weigh In On Enerpac Tool Group
Several institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp raised its position in shares of Enerpac Tool Group by 121.3% during the 3rd quarter. Fifth Third Bancorp now owns 874 shares of the company’s stock valued at $36,000 after buying an additional 479 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Enerpac Tool Group during the second quarter worth approximately $42,000. Danske Bank A S purchased a new stake in Enerpac Tool Group during the third quarter valued at approximately $45,000. Russell Investments Group Ltd. lifted its stake in shares of Enerpac Tool Group by 1,556.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,209 shares of the company’s stock valued at $54,000 after purchasing an additional 1,136 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Enerpac Tool Group in the 3rd quarter worth approximately $61,000. Institutional investors own 97.70% of the company’s stock.
About Enerpac Tool Group
Enerpac Tool Group Corp. (NYSE: EPAC) is a global provider of high-pressure hydraulic tools, controlled force products and precision positioning equipment. The company’s products and solutions enable customers in manufacturing, energy, infrastructure, transportation and construction to lift, move, position and secure heavy loads with safety and accuracy. Enerpac’s core portfolio includes hydraulic pumps, cylinders, torque wrenches, torque multipliers, flange spreaders, tensioners and portable bolting tools, complemented by electric and pneumatic tools for a wide range of industrial applications.
In addition to its extensive product lines, Enerpac offers integrated systems and services such as engineered lifting solutions, custom skidding and spreader beam assemblies, mobile bolting units and digital monitoring platforms.