Enerpac Tool Group (NYSE:EPAC) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research has upgraded Enerpac Tool Group to a "hold" rating, reflecting a shift in sentiment regarding the company's stock performance.
• The current consensus rating for Enerpac Tool Group is "Moderate Buy" with an average target price of $50.50.
• Despite the positive ratings, shares of Enerpac Tool Group have recently declined by 3.0% as of Monday's trading session.

Zacks Research upgraded shares of Enerpac Tool Group (NYSE:EPAC - Free Report) to a hold rating in a research report released on Monday, September 8th,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Wall Street Zen lowered Enerpac Tool Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Roth Capital assumed coverage on Enerpac Tool Group in a research note on Friday, September 5th. They issued a "buy" rating and a $48.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.50.

Enerpac Tool Group Price Performance

NYSE EPAC traded up $0.06 during trading on Monday, reaching $42.73. The company's stock had a trading volume of 86,958 shares, compared to its average volume of 351,470. The stock has a market capitalization of $2.31 billion, a PE ratio of 26.21 and a beta of 1.15. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.90 and a quick ratio of 2.24. The firm has a fifty day moving average of $40.30 and a 200 day moving average of $41.68. Enerpac Tool Group has a one year low of $36.51 and a one year high of $51.91.

Enerpac Tool Group (NYSE:EPAC - Get Free Report) last announced its earnings results on Monday, June 23rd. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.04. The business had revenue of $158.66 million for the quarter, compared to analyst estimates of $159.35 million. Enerpac Tool Group had a return on equity of 24.04% and a net margin of 14.65%.During the same period in the prior year, the company earned $0.47 EPS. Analysts expect that Enerpac Tool Group will post 1.78 EPS for the current fiscal year.

Enerpac Tool Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Tuesday, October 7th will be given a dividend of $0.04 per share. The ex-dividend date is Tuesday, October 7th. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. Enerpac Tool Group's dividend payout ratio is 2.45%.

Insider Activity at Enerpac Tool Group

In other news, Director E James Ferland, Jr. sold 4,224 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $40.99, for a total transaction of $173,141.76. Following the transaction, the director directly owned 94,136 shares in the company, valued at approximately $3,858,634.64. This represents a 4.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Enerpac Tool Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its position in Enerpac Tool Group by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 296,448 shares of the company's stock worth $13,299,000 after acquiring an additional 9,177 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Enerpac Tool Group by 14.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 7,051 shares of the company's stock worth $316,000 after acquiring an additional 917 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Enerpac Tool Group by 6.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,845 shares of the company's stock worth $307,000 after acquiring an additional 440 shares during the last quarter. Nuveen LLC bought a new position in Enerpac Tool Group during the 1st quarter worth approximately $12,804,000. Finally, SG Americas Securities LLC grew its position in Enerpac Tool Group by 332.7% during the 1st quarter. SG Americas Securities LLC now owns 10,834 shares of the company's stock worth $486,000 after acquiring an additional 8,330 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

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.