Twin Disc Inc. (TWIN) Downgraded to “Hold” at Zacks Investment Research
Twin Disc Inc. (NASDAQ:TWIN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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. “
Twin Disc (NASDAQ:TWIN) opened at 11.94 on Wednesday. The stock’s market cap is $136.57 million. Twin Disc has a 52 week low of $8.19 and a 52 week high of $13.98. The company’s 50-day moving average is $11.72 and its 200 day moving average is $10.93.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/19/twin-disc-inc-twin-downgraded-to-hold-at-zacks-investment-research.html
Twin Disc (NASDAQ:TWIN) last posted its earnings results on Thursday, August 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.15. The business had revenue of $42.65 million for the quarter, compared to analysts’ expectations of $49.80 million. Twin Disc had a negative net margin of 7.88% and a negative return on equity of 5.82%. The business’s revenue for the quarter was down 36.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 EPS. On average, analysts expect that Twin Disc will post ($0.62) earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of TWIN. Royce & Associates LP boosted its position in Twin Disc by 67.1% in the first quarter. Royce & Associates LP now owns 11,700 shares of the company’s stock valued at $119,000 after buying an additional 4,700 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Twin Disc by 1.4% in the first quarter. Geode Capital Management LLC now owns 52,245 shares of the company’s stock valued at $529,000 after buying an additional 724 shares during the period. Renaissance Technologies LLC boosted its position in shares of Twin Disc by 1.3% in the first quarter. Renaissance Technologies LLC now owns 124,700 shares of the company’s stock valued at $1,263,000 after buying an additional 1,599 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Twin Disc by 4.4% in the second quarter. Gamco Investors INC. ET AL now owns 1,084,691 shares of the company’s stock valued at $11,650,000 after buying an additional 46,108 shares during the period. Finally, Teton Advisors Inc. boosted its position in shares of Twin Disc by 1.4% in the second quarter. Teton Advisors Inc. now owns 297,205 shares of the company’s stock valued at $3,192,000 after buying an additional 4,205 shares during the period. Institutional investors and hedge funds own 43.67% of the company’s stock.
Twin Disc Company Profile
Twin Disc, Incorporated designs, manufactures and sells marine and heavy duty off-highway power transmission equipment. The Company operates in two segments: manufacturing and distribution. Its products include marine transmissions, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and controls systems.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Twin Disc Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Twin Disc Inc. and related companies with MarketBeat.com's FREE daily email newsletter.