Enerpac Tool Group (NYSE:EPAC) Shares Gap Up After Strong Earnings

Enerpac Tool Group Corp. (NYSE:EPAC) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $34.31, but opened at $35.82. Enerpac Tool Group shares last traded at $35.7330, with a volume of 70,332 shares trading hands.

The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.11. Enerpac Tool Group had a return on equity of 22.25% and a net margin of 13.69%.The firm had revenue of $167.55 million for the quarter, compared to analysts’ expectations of $165.60 million. Enerpac Tool Group’s quarterly revenue was up 5.7% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EPAC. Weiss Ratings lowered Enerpac Tool Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 19th. Wall Street Zen upgraded shares of Enerpac Tool Group from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.00.

Institutional Investors Weigh In On Enerpac Tool Group

Institutional investors have recently modified their holdings of the company. Tudor Investment Corp ET AL lifted its position in shares of Enerpac Tool Group by 58.0% during the third quarter. Tudor Investment Corp ET AL now owns 167,029 shares of the company’s stock worth $6,848,000 after purchasing an additional 61,337 shares in the last quarter. Capital International Investors grew its holdings in shares of Enerpac Tool Group by 9.8% in the third quarter. Capital International Investors now owns 4,530,064 shares of the company’s stock valued at $185,733,000 after purchasing an additional 403,834 shares in the last quarter. M&T Bank Corp increased its stake in Enerpac Tool Group by 2,163.1% during the 4th quarter. M&T Bank Corp now owns 1,124,267 shares of the company’s stock worth $42,992,000 after buying an additional 1,074,588 shares during the period. Teacher Retirement System of Texas increased its stake in Enerpac Tool Group by 39.8% during the 4th quarter. Teacher Retirement System of Texas now owns 149,139 shares of the company’s stock worth $5,703,000 after buying an additional 42,442 shares during the period. Finally, Bamco Inc. NY lifted its holdings in Enerpac Tool Group by 6.1% during the 3rd quarter. Bamco Inc. NY now owns 446,217 shares of the company’s stock worth $18,295,000 after buying an additional 25,494 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Enerpac Tool Group Price Performance

The company’s 50-day simple moving average is $34.85 and its 200 day simple moving average is $37.42. The company has a market cap of $1.85 billion, a PE ratio of 22.43 and a beta of 0.85. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.88 and a current ratio of 2.56.

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.