Enerpac Tool Group (NYSE:EPAC) Stock Price Up 4.7% – Here’s What Happened

Enerpac Tool Group Corp. (NYSE:EPAC)’s share price shot up 4.7% on Tuesday . The company traded as high as $46.67 and last traded at $45.44. 56,106 shares changed hands during trading, a decline of 82% from the average session volume of 312,113 shares. The stock had previously closed at $43.38.

Wall Street Analysts Forecast Growth

Separately, CJS Securities initiated coverage on shares of Enerpac Tool Group in a report on Friday, March 14th. They issued an “outperform” rating and a $53.00 target price on the stock.

Enerpac Tool Group Stock Up 7.6 %

The company has a market cap of $2.54 billion, a P/E ratio of 28.34 and a beta of 1.18. The company has a quick ratio of 2.24, a current ratio of 2.92 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $44.75 and a 200 day moving average of $44.55.

Enerpac Tool Group (NYSE:EPAC) last released its quarterly earnings results on Monday, March 24th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. Enerpac Tool Group had a return on equity of 25.39% and a net margin of 15.14%. The business had revenue of $145.53 million during the quarter, compared to the consensus estimate of $139.80 million. On average, research analysts anticipate that Enerpac Tool Group Corp. will post 1.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Thrivent Financial for Lutherans lifted its position in Enerpac Tool Group by 1,061.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 495,282 shares of the company’s stock valued at $20,351,000 after purchasing an additional 452,641 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Enerpac Tool Group by 1,931.9% during the 4th 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 in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Enerpac Tool Group by 230.6% during the 4th quarter. Ameriprise Financial Inc. now owns 535,310 shares of the company’s stock valued at $21,996,000 after acquiring an additional 373,372 shares during the period. State Street Corp increased its holdings in Enerpac Tool Group by 16.3% in the 3rd quarter. State Street Corp now owns 2,393,472 shares of the company’s stock worth $100,263,000 after acquiring an additional 336,323 shares in the last quarter. Finally, Cerity Partners LLC bought a new stake in Enerpac Tool Group during the 4th quarter worth approximately $8,338,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.