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

Enerpac Tool Group Corp. (NYSE:EPAC) saw a large growth in short interest in February. As of February 28th, there was short interest totalling 1,090,000 shares, a growth of 20.4% from the February 13th total of 905,600 shares. Based on an average daily trading volume, of 348,400 shares, the short-interest ratio is presently 3.1 days. Currently, 2.0% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EPAC. Principal Financial Group Inc. boosted its position in Enerpac Tool Group by 2.9% in the third quarter. Principal Financial Group Inc. now owns 277,494 shares of the company’s stock valued at $11,624,000 after buying an additional 7,845 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Enerpac Tool Group by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 25,219 shares of the company’s stock valued at $1,056,000 after acquiring an additional 2,026 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Enerpac Tool Group in the third quarter worth $1,312,000. Intech Investment Management LLC purchased a new position in shares of Enerpac Tool Group during the third quarter worth $442,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Enerpac Tool Group by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 621,456 shares of the company’s stock valued at $26,033,000 after purchasing an additional 6,903 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, CJS Securities initiated coverage on Enerpac Tool Group in a report on Friday. They issued an “outperform” rating and a $53.00 price target for the company.

Enerpac Tool Group Stock Performance

NYSE:EPAC traded down $0.73 during trading hours on Tuesday, hitting $43.08. 302,007 shares of the company were exchanged, compared to its average volume of 314,685. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.92 and a quick ratio of 2.24. Enerpac Tool Group has a 52-week low of $32.28 and a 52-week high of $51.91. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 26.27 and a beta of 1.18. The company’s 50 day moving average price is $44.59 and its 200-day moving average price is $44.46.

Enerpac Tool Group (NYSE:EPAC) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Enerpac Tool Group had a net margin of 15.14% and a return on equity of 25.39%. As a group, research analysts forecast that Enerpac Tool Group will post 1.78 earnings per share for the current year.

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.