Azzad Asset Management Inc. ADV Acquires Shares of 34,121 Enerpac Tool Group Corp. (NYSE:EPAC)

Azzad Asset Management Inc. ADV bought a new position in shares of Enerpac Tool Group Corp. (NYSE:EPAC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 34,121 shares of the company's stock, valued at approximately $1,531,000. Azzad Asset Management Inc. ADV owned about 0.06% of Enerpac Tool Group at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its position in shares of Enerpac Tool Group by 1,061.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 495,282 shares of the company's stock valued at $20,351,000 after buying an additional 452,641 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Enerpac Tool Group by 1,931.9% in the fourth quarter. Wells Fargo & Company MN now owns 409,263 shares of the company's stock valued at $16,817,000 after buying an additional 389,121 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Enerpac Tool Group by 230.6% in the fourth quarter. Ameriprise Financial Inc. now owns 535,310 shares of the company's stock valued at $21,996,000 after buying an additional 373,372 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Enerpac Tool Group in the fourth quarter valued at approximately $8,338,000. Finally, Grandeur Peak Global Advisors LLC raised its position in shares of Enerpac Tool Group by 1,197.5% in the fourth quarter. Grandeur Peak Global Advisors LLC now owns 208,385 shares of the company's stock valued at $8,563,000 after buying an additional 192,325 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Enerpac Tool Group from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. CJS Securities started coverage on shares of Enerpac Tool Group in a research note on Friday, March 14th. They set an "outperform" rating and a $53.00 price objective for the company.

Enerpac Tool Group Trading Down 0.3%

EPAC traded down $0.14 during trading on Wednesday, hitting $41.99. 103,064 shares of the company's stock were exchanged, compared to its average volume of 327,351. The company has a current ratio of 3.06, a quick ratio of 2.36 and a debt-to-equity ratio of 0.46. Enerpac Tool Group Corp. has a 1 year low of $35.18 and a 1 year high of $51.91. The stock has a 50 day moving average price of $42.04 and a 200 day moving average price of $43.56. The firm has a market cap of $2.27 billion, a P/E ratio of 24.84 and a beta of 1.20.

Enerpac Tool Group (NYSE:EPAC - Get Free Report) last released its quarterly earnings data on Monday, March 24th. The company reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. Enerpac Tool Group had a net margin of 15.47% and a return on equity of 24.61%. The company had revenue of $145.53 million during the quarter, compared to the consensus estimate of $139.80 million. As a group, analysts expect that Enerpac Tool Group Corp. will post 1.78 EPS for the current fiscal year.

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.