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

September 30, 2021 2:27 PM | 1 min read | Make a Comment

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.