Enerpac Tool Group (NYSE:EPAC) Shares Gap Down Following Weak Earnings

Enerpac Tool Group Corp. (NYSE:EPAC) gapped down before the market opened 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.

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

Insider Transactions at Enerpac Tool Group

In other news, Director E James Ferland, Jr. sold 1,938 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $44.17, for a total transaction of $85,601.46. Following the transaction, the director now owns 86,047 shares in the company, valued at approximately $3,800,695.99. The trade was a 2.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enerpac Tool Group

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP boosted its holdings in Enerpac Tool Group by 110.7% during the third quarter. Quarry LP now owns 830 shares of the company’s stock valued at $35,000 after purchasing an additional 436 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Enerpac Tool Group during the 3rd quarter worth approximately $40,000. GAMMA Investing LLC boosted its stake 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 Enerpac Tool Group in the third quarter valued at $42,000. Finally, USA Financial Formulas raised its stake in Enerpac Tool Group by 15.5% during the third quarter. USA Financial Formulas now owns 1,895 shares of the company’s stock worth $79,000 after acquiring an additional 254 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Enerpac Tool Group Stock Performance

The company has a quick ratio of 2.31, a current ratio of 2.88 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $46.92 and a 200-day simple moving average of $42.36. The company has a market capitalization of $2.39 billion, a P/E ratio of 28.31 and a beta of 1.15.

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.