Zacks Investment Research Downgrades Twin Disc (NASDAQ:TWIN) to Hold

Twin Disc (NASDAQ:TWIN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “TWIN DISC, INC. designs, manufactures and sells heavy duty off-highway power transmission equipment. Products offered include: hydraulic torque converters; power-shift transmissions; marine transmissions and surface drives; universal joints; gas turbine starting drives; power take-offs and reduction gears; industrial clutches; fluid couplings and control systems. Principal markets are: construction equipment, industrial equipment, government, marine, energy and natural resources and agriculture. “

Shares of TWIN stock opened at $13.60 on Wednesday. The firm’s 50-day moving average price is $12.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.82 and a current ratio of 2.51. The firm has a market cap of $185.60 million, a PE ratio of -18.13 and a beta of 1.58. Twin Disc has a twelve month low of $4.66 and a twelve month high of $14.84.

Twin Disc (NASDAQ:TWIN) last announced its quarterly earnings results on Thursday, April 29th. The industrial products company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.14. The firm had revenue of $57.64 million for the quarter, compared to analysts’ expectations of $57.70 million. Twin Disc had a negative net margin of 4.71% and a negative return on equity of 6.85%. On average, analysts expect that Twin Disc will post -0.66 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in TWIN. Gamco Investors INC. ET AL lifted its position in Twin Disc by 4.9% in the fourth quarter. Gamco Investors INC. ET AL now owns 1,678,433 shares of the industrial products company’s stock valued at $13,176,000 after buying an additional 78,524 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its position in Twin Disc by 22.2% in the first quarter. Pacific Ridge Capital Partners LLC now owns 840,519 shares of the industrial products company’s stock valued at $8,035,000 after buying an additional 152,866 shares during the last quarter. Heartland Advisors Inc. acquired a new position in Twin Disc in the first quarter valued at about $3,350,000. BlackRock Inc. lifted its position in Twin Disc by 4.2% in the first quarter. BlackRock Inc. now owns 222,412 shares of the industrial products company’s stock valued at $2,126,000 after buying an additional 8,884 shares during the last quarter. Finally, Skylands Capital LLC lifted its position in Twin Disc by 71.1% in the first quarter. Skylands Capital LLC now owns 84,938 shares of the industrial products company’s stock valued at $812,000 after buying an additional 35,288 shares during the last quarter. 49.67% of the stock is currently owned by hedge funds and other institutional investors.

About Twin Disc

Twin Disc, Incorporated designs, manufactures, and sells marine and heavy duty off-highway power transmission equipment worldwide. It operates through two segments, Manufacturing and Distribution. The company's products include marine transmissions, azimuth drives, surface drives, propellers, and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches, and controls systems.

See Also: Special Purpose Acquisition Company (SPAC)

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