| Over a month ago | ||||
Gabelli analyst Justin… Gabelli analyst Justin Bergner downgraded Enerpac Tool to Hold from Buy. While he likes Enerpac as a "pure play tools company with solid management," Bergner no longer sees a mid-term path to $575M in revenue and 20%+ EBITDA margins after Enerpac reported a "still weak 1Q driven by tough end markets," he tells investors. | ||||
Reports Q1 revenue… Reports Q1 revenue $119.43M, consensus $123.84M. "We are pleased with the continued sequential improvement in sales and profit that we are delivering across the business as we benefit from the strategic actions taken over the last year. Our teams continued their strong execution by investing prudently in our business, supporting our customers and managing costs during these unprecedented times. This has enabled us to achieve another quarter of favorable decremental margins, sustain new product development and commercial effectiveness and generate cash flow from operations in the quarter. Looking ahead, we are seeing improved confidence in some of our end markets as well as in our customers' ability to navigate the challenges of the pandemic. While we are not out of the woods, we are pleased with our progress, especially in our European region where we returned to pre-COVID levels in the quarter," said Randy Baker, Enerpac Tool's president and CEO. | ||||
| Over a quarter ago | ||||
Virtual Meeting to be… Virtual Meeting to be held on October 15 hosted by KeyBanc. | ||||
Virtual Meeting to be… Virtual Meeting to be held on October 15 hosted by KeyBanc. | ||||
Virtual Meeting to be… Virtual Meeting to be held on October 7 hosted by KeyBanc. | ||||
Virtual Meeting to be… Virtual Meeting to be held on October 7 hosted by KeyBanc. | |
RBC Capital analyst Deane… RBC Capital analyst Deane Dray lowered the firm's price target on Enerpac Tool to $17 from $21 and keeps a Sector Perform rating on the shares. The analyst notes that the company's Q4 organic sales decline of 27% was much worse than the 15% he was expecting, with demand being impacted by COVID-19 and oil pressures. While Enerpac saw positive free cash flow and "modest" net leverage, Dray adds that the uncertain outlook regarding potential COVID flare-ups are keeping him on the sidelines. | |
Enerpac Tool is down… Enerpac Tool is down -8.6%, or -$1.73 to $18.25. | |
Enerpac Tool is down… Enerpac Tool is down -9.1%, or -$1.81 to $18.17. | |
Reports Q4 revenue… Reports Q4 revenue $111M.4M, consensus $122.6M. Based on our sequential improvements from the third to fourth quarter, we believe our business is beginning to see signs of recovery from the ongoing COVID-19 global pandemic. Our team was able to drive increased commercial activity, which resulted in quarter-over-quarter improvement, and our cost control actions resulted in solid decremental margins as we wrapped up fiscal 2020. During the quarter we remained focused on our top priorities, including keeping our employees safe, supporting our customers, launching new products, diligently managing our costs and maintaining our strong balance sheet," said Randy Baker, Enerpac Tool Group's President and CEO. |