Enerpac Tool Group (NYSE:EPAC) Shares Gap Down on Disappointing Earnings

Enerpac Tool Group Corp. (NYSE:EPAC)’s stock price gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $46.01, but opened at $43.66. Enerpac Tool Group shares last traded at $44.80, with a volume of 35,854 shares trading hands.

The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Enerpac Tool Group had a net margin of 14.55% and a return on equity of 26.70%.

Insider Buying and Selling at Enerpac Tool Group

In other Enerpac Tool Group news, Director E James Ferland, Jr. sold 1,938 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $44.17, for a total value of $85,601.46. Following the completion of the transaction, the director now owns 86,047 shares of the company’s stock, valued at $3,800,695.99. This represents a 2.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EPAC. Quarry LP lifted its holdings in Enerpac Tool Group by 110.7% in the third quarter. Quarry LP now owns 830 shares of the company’s stock valued at $35,000 after buying an additional 436 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Enerpac Tool Group during the 3rd quarter worth about $40,000. GAMMA Investing LLC increased its position in Enerpac Tool Group by 31.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,000 shares of the company’s stock valued at $42,000 after buying an additional 238 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Enerpac Tool Group during the third quarter valued at approximately $42,000. Finally, USA Financial Formulas lifted its holdings in shares of Enerpac Tool Group by 15.5% in the 3rd quarter. USA Financial Formulas now owns 1,895 shares of the company’s stock worth $79,000 after purchasing an additional 254 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 has a debt-to-equity ratio of 0.48, a current ratio of 2.88 and a quick ratio of 2.31. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 28.76 and a beta of 1.15. The business’s fifty day moving average price is $46.91 and its 200-day moving average price is $42.32.

Enerpac Tool Group Company Profile

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.