Twin Disc (NASDAQ:TWIN) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Twin Disc, Incorporated (NASDAQ:TWIN) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $18.64 and traded as high as $24.56. Twin Disc shares last traded at $23.81, with a volume of 90,659 shares traded.

Analysts Set New Price Targets

A number of brokerages recently commented on TWIN. Wall Street Zen lowered Twin Disc from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Weiss Ratings upgraded Twin Disc from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 12th. Finally, Lake Street Capital initiated coverage on Twin Disc in a report on Thursday, July 9th. They set a “buy” rating and a $30.00 price objective for the company. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Twin Disc currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Twin Disc Trading Up 3.4%

The company has a quick ratio of 0.81, a current ratio of 2.09 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $348.10 million, a P/E ratio of 13.12 and a beta of 0.64. The firm’s 50-day moving average price is $21.89 and its 200 day moving average price is $18.71.

Twin Disc (NASDAQ:TWIN) last announced its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $96.69 million during the quarter, compared to the consensus estimate of $94.70 million. Twin Disc had a net margin of 7.32% and a return on equity of 2.77%.

Hedge Funds Weigh In On Twin Disc

Large investors have recently bought and sold shares of the stock. State Street Corp raised its position in Twin Disc by 2.3% in the fourth quarter. State Street Corp now owns 44,105 shares of the industrial products company’s stock worth $736,000 after acquiring an additional 1,000 shares during the period. Peapod Lane Capital LLC grew its position in shares of Twin Disc by 0.7% during the 4th quarter. Peapod Lane Capital LLC now owns 138,630 shares of the industrial products company’s stock valued at $2,312,000 after acquiring an additional 1,011 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Twin Disc by 28.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,361 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 1,193 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Twin Disc by 4.1% during the 2nd quarter. First Trust Advisors LP now owns 35,168 shares of the industrial products company’s stock worth $311,000 after purchasing an additional 1,378 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Twin Disc by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 131,241 shares of the industrial products company’s stock worth $2,190,000 after purchasing an additional 1,550 shares during the period. 65.25% of the stock is currently owned by institutional investors.

About Twin Disc

Twin Disc, Inc (NASDAQ: TWIN) is a global designer and manufacturer of power transmission equipment for marine and industrial applications. Headquartered in Racine, Wisconsin, the company develops a range of mechanical and digital solutions that control power delivery in demanding environments. Its portfolio includes marine gears, power take-offs, clutches, brakes, transmissions and controllable pitch propeller systems engineered to withstand heavy loads and corrosive conditions.

In addition to original equipment manufacturing, Twin Disc offers aftermarket parts and services, including maintenance, repair and overhaul support through a network of service centers worldwide.