Enerpac Tool Group Corp. (NYSE:EPAC) Sees Large Increase in Short Interest

Enerpac Tool Group Corp. (NYSE:EPAC) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 1,029,279 shares, a growth of 23.4% from the February 26th total of 834,185 shares. Currently, 2.0% of the shares of the company are short sold. Based on an average trading volume of 343,460 shares, the days-to-cover ratio is currently 3.0 days.

Enerpac Tool Group Stock Performance

Shares of EPAC stock traded up $1.31 during midday trading on Tuesday, hitting $36.52. The company had a trading volume of 602,140 shares, compared to its average volume of 428,930. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 22.82 and a beta of 0.96. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.56 and a quick ratio of 1.88. The company’s 50 day simple moving average is $39.56 and its 200 day simple moving average is $39.75. Enerpac Tool Group has a 52-week low of $33.66 and a 52-week high of $46.43.

Enerpac Tool Group (NYSE:EPAC) last released its quarterly earnings results on Wednesday, March 25th. The company reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. Enerpac Tool Group had a return on equity of 22.25% and a net margin of 13.69%.The business had revenue of $154.81 million during the quarter, compared to analysts’ expectations of $147.80 million. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Research analysts anticipate that Enerpac Tool Group will post 1.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on EPAC shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Enerpac Tool Group in a research note on Monday, December 29th. William Blair assumed coverage on shares of Enerpac Tool Group in a research note on Friday, January 16th. They issued a “market perform” rating on the stock. Finally, Wall Street Zen raised shares of Enerpac Tool Group from a “hold” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.00.

Institutional Trading of Enerpac Tool Group

Several hedge funds have recently made changes to their positions in EPAC. Fifth Third Bancorp increased its stake in shares of Enerpac Tool Group by 121.3% during the third quarter. Fifth Third Bancorp now owns 874 shares of the company’s stock worth $36,000 after acquiring an additional 479 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in Enerpac Tool Group during the 2nd quarter worth approximately $42,000. Danske Bank A S purchased a new position in shares of Enerpac Tool Group during the 3rd quarter worth approximately $45,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Enerpac Tool Group in the 4th quarter valued at approximately $47,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Enerpac Tool Group in the 3rd quarter valued at approximately $61,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

About Enerpac Tool Group

Enerpac Tool Group Corp. (NYSE: EPAC) is a global provider of high-pressure hydraulic tools, controlled force products and precision positioning equipment. The company’s products and solutions enable customers in manufacturing, energy, infrastructure, transportation and construction to lift, move, position and secure heavy loads with safety and accuracy. Enerpac’s core portfolio includes hydraulic pumps, cylinders, torque wrenches, torque multipliers, flange spreaders, tensioners and portable bolting tools, complemented by electric and pneumatic tools for a wide range of industrial applications.

In addition to its extensive product lines, Enerpac offers integrated systems and services such as engineered lifting solutions, custom skidding and spreader beam assemblies, mobile bolting units and digital monitoring platforms.