Enerpac Tool Group (NYSE:EPAC) Hits New 52-Week Low on Disappointing Earnings

Enerpac Tool Group Corp. (NYSE:EPAC) hit a new 52-week low during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $35.01 and last traded at $36.5260, with a volume of 67918 shares changing hands. The stock had previously closed at $39.26.

The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). Enerpac Tool Group had a net margin of 15.03% and a return on equity of 23.54%. The firm had revenue of $144.21 million for the quarter, compared to analyst estimates of $146.45 million. During the same quarter last year, the business posted $0.40 earnings per share.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EPAC shares. Wall Street Zen raised Enerpac Tool Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Enerpac Tool Group in a research report on Monday. Roth Capital set a $51.00 target price on shares of Enerpac Tool Group and gave the company a “buy” rating in a research note on Monday, October 20th. Finally, Zacks Research raised Enerpac Tool Group to a “hold” rating in a report on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Insider Buying and Selling

In related news, CEO Paul Sternlieb sold 2,700 shares of the company’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $44.00, for a total transaction of $118,800.00. Following the sale, the chief executive officer owned 328,342 shares in the company, valued at approximately $14,447,048. This represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Institutional Trading of Enerpac Tool Group

Hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp grew 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 worth $36,000 after purchasing an additional 479 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of Enerpac Tool Group during the 2nd quarter worth $42,000. Danske Bank A S bought a new position in shares of Enerpac Tool Group in the third quarter worth $45,000. Russell Investments Group Ltd. raised its stake in Enerpac Tool Group by 1,556.2% in the first 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 in the last quarter. Finally, Advisory Services Network LLC acquired a new position in Enerpac Tool Group in the third quarter valued at about $61,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Enerpac Tool Group Stock Performance

The stock’s fifty day moving average price is $39.57 and its two-hundred day moving average price is $40.42. The company has a market cap of $1.94 billion, a P/E ratio of 21.51 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.17 and a current ratio of 2.74.

About Enerpac Tool Group

Enerpac Tool Group Corp. manufactures and sells a range of industrial products and solutions in the United States, the United Kingdom, Germany, Australia, Canada, China, Saudi Arabia, Brazil, France, and internationally. It operates through Industrial Tools & Services and Other segments. The Industrial Tools & Services segment designs, manufactures, and distributes branded hydraulic and mechanical tools; and provides services and tool rentals to the infrastructure, industrial maintenance, repair and operations, oil and gas, mining, alternative and renewable energy, civil construction, and other markets.