Twin Disc (NASDAQ:TWIN) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Twin Disc shares rose above their 200-day moving average of $18.64, reaching $24.56 before closing at $23.81.
• Analyst sentiment is generally positive: the stock has a “Moderate Buy” consensus rating and a $30 average price target, including Lake Street Capital’s new Buy rating.
• The company’s latest quarterly results were mixed, with revenue of $96.69 million exceeding estimates but earnings per share of $0.23 falling short of the $0.25 consensus forecast.

Shares of Twin Disc, Incorporated (NASDAQ:TWIN - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $18.64 and traded as high as $24.56. Twin Disc shares last traded at $23.81, with a volume of 90,659 shares traded.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TWIN shares. Wall Street Zen lowered Twin Disc from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 6th. Weiss Ratings upgraded Twin Disc from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, June 12th. Finally, Lake Street Capital assumed coverage on Twin Disc in a research note on Thursday, July 9th. They issued a "buy" rating and a $30.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $30.00.

Twin Disc Stock Performance

The firm has a market cap of $343.34 million, a P/E ratio of 12.94 and a beta of 0.64. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.81 and a current ratio of 2.09. The business's 50-day simple moving average is $21.62 and its 200 day simple moving average is $18.64.

Twin Disc (NASDAQ:TWIN - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Twin Disc had a net margin of 7.32% and a return on equity of 2.77%. The firm had revenue of $96.69 million for the quarter, compared to the consensus estimate of $94.70 million.

Institutional Investors Weigh In On Twin Disc

A number of large investors have recently made changes to their positions in the company. Global Retirement Partners LLC bought a new position in shares of Twin Disc in the 4th quarter worth approximately $39,000. Strs Ohio bought a new stake in Twin Disc during the first quarter valued at approximately $74,000. JPMorgan Chase & Co. grew its position in Twin Disc by 28.6% during the third quarter. JPMorgan Chase & Co. now owns 5,361 shares of the industrial products company's stock valued at $75,000 after buying an additional 1,193 shares during the period. Bank of America Corp DE increased its holdings in Twin Disc by 40.9% during the second quarter. Bank of America Corp DE now owns 15,811 shares of the industrial products company's stock valued at $140,000 after buying an additional 4,590 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in Twin Disc in the second quarter worth approximately $141,000. 65.25% of the stock is currently owned by institutional investors.

Twin Disc Company Profile

Twin Disc, Inc NASDAQ: TWIN is a global designer and manufacturer of power transmission equipment for marine and industrial applications. Headquartered in Racine, Wisconsin, the company develops a range of mechanical and digital solutions that control power delivery in demanding environments. Its portfolio includes marine gears, power take-offs, clutches, brakes, transmissions and controllable pitch propeller systems engineered to withstand heavy loads and corrosive conditions.

In addition to original equipment manufacturing, Twin Disc offers aftermarket parts and services, including maintenance, repair and overhaul support through a network of service centers worldwide.

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