Twin Disc Inc. (TWIN) Downgraded to “Hold” at Zacks Investment Research
Twin Disc Inc. (NASDAQ:TWIN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “TWIN DISC, INC. designs, manufactures and sells heavy duty off-highway power transmission equipment. Products offered include: hydraulic torque converters; power-shift transmissions; marine transmissions and surface drives; universal joints; gas turbine starting drives; power take-offs and reduction gears; industrial clutches; fluid couplings and control systems. Principal markets are: construction equipment, industrial equipment, government, marine, energy and natural resources and agriculture. “
Twin Disc (NASDAQ:TWIN) opened at 11.94 on Wednesday. The firm has a 50-day moving average of $11.72 and a 200 day moving average of $10.93. The firm’s market capitalization is $136.57 million. Twin Disc has a 12 month low of $8.19 and a 12 month high of $13.98.
Twin Disc (NASDAQ:TWIN) last posted its earnings results on Thursday, August 18th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.15. The firm earned $42.65 million during the quarter, compared to the consensus estimate of $49.80 million. Twin Disc had a negative net margin of 7.88% and a negative return on equity of 5.82%. The company’s revenue was down 36.7% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share. Equities research analysts forecast that Twin Disc will post ($0.62) earnings per share for the current year.
Institutional investors have recently modified their holdings of the stock. Royce & Associates LP boosted its position in shares of Twin Disc by 67.1% in the first quarter. Royce & Associates LP now owns 11,700 shares of the company’s stock valued at $119,000 after buying an additional 4,700 shares in the last quarter. Alpine Partners VI LLC purchased a new position in shares of Twin Disc during the second quarter valued at approximately $124,000. Ancora Advisors LLC boosted its position in shares of Twin Disc by 47.1% in the second quarter. Ancora Advisors LLC now owns 25,000 shares of the company’s stock valued at $268,000 after buying an additional 8,000 shares in the last quarter. Laurion Capital Management LP purchased a new position in shares of Twin Disc during the second quarter valued at approximately $272,000. Finally, Paloma Partners Management Co purchased a new position in shares of Twin Disc during the second quarter valued at approximately $374,000. 43.67% of the stock is owned by institutional investors.
About Twin Disc
Twin Disc, Incorporated designs, manufactures and sells marine and heavy duty off-highway power transmission equipment. The Company operates in two segments: manufacturing and distribution. Its products include marine transmissions, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and controls systems.
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