RBC Capital, Wells Fargo Cut Enerpac Tool's Price Target Post Q4 Results

  • RBC Capital analyst Deane Dray lowered Enerpac Tool Group Corp's EPAC price target to $22 (implying an upside of 5%) from $26 and maintained a Sector Perform rating on the shares. 
  • Dray cites the company's Q4 earnings miss driven by supply chain issues, cost pressures, and COVID disruptions, along with its "abrupt" CEO departure announcement.
  • He adds that the stock has lagged year-to-date and should remain in a "holding pattern" until the new CEO "sets a new course."
  • Wells Fargo analyst Michael Mcginn lowered the price target to $20 (implying a downside of 4.6%) from $22 and maintained an Underweight rating on the shares.
  • Price Action: EPAC shares are trading lower by 3.60% at $20.9 on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsPrice TargetReiterationSmall CapAnalyst RatingsMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!