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

Twin Disc, Incorporated (NASDAQ:TWIN) 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 changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TWIN shares. Wall Street Zen lowered Twin Disc from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Weiss Ratings raised Twin Disc from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Finally, Lake Street Capital started coverage on Twin Disc in a research note on Thursday, July 9th. They set a “buy” rating and a $30.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Twin Disc Trading Down 0.9%

The stock has a fifty day simple moving average of $21.62 and a 200 day simple moving average of $18.64. The firm has a market capitalization of $343.34 million, a P/E ratio of 12.94 and a beta of 0.64. The company has a quick ratio of 0.81, a current ratio of 2.09 and a debt-to-equity ratio of 0.23.

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

Institutional Trading of Twin Disc

Large investors have recently made changes to their positions in the business. Ameriprise Financial Inc. boosted its position in Twin Disc by 1,928.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 439,241 shares of the industrial products company’s stock valued at $3,878,000 after buying an additional 417,590 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Twin Disc by 105.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 180,119 shares of the industrial products company’s stock worth $3,004,000 after acquiring an additional 92,284 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Twin Disc by 132.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 149,035 shares of the industrial products company’s stock valued at $2,078,000 after acquiring an additional 84,908 shares in the last quarter. Susquehanna International Group LLP raised its stake in shares of Twin Disc by 441.6% during the third quarter. Susquehanna International Group LLP now owns 99,791 shares of the industrial products company’s stock valued at $1,391,000 after acquiring an additional 81,366 shares in the last quarter. Finally, Mink Brook Asset Management LLC purchased a new stake in shares of Twin Disc in the second quarter valued at approximately $543,000. 65.25% of the stock is currently owned by institutional investors.

About Twin Disc

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.