Enersys (ENS) Raised to Hold at Zacks Investment Research
Enersys (NYSE:ENS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, August 1st.
According to Zacks, “EnerSys has beat estimates each time over the trailing four quarters. Over the past few quarters, the company's bottom line growth was driven mainly by diligent restructuring initiatives. Going forward, we believe that positive industry trend and strong sales of products, like lead chargers and battery management systems, will drive growth of Motive business. EnerSys’ long-term growth drivers include higher demand for premium products, lean initiatives, robust prospects in Asia, cost reduction programs and strategic product launches. However, on the negative side, EnerSys’ shares have yielded a negative return over the past six months, comparing unfavorably to the industry’s average positive return. Of late, volatility in cost of commodities (especially lead) has weighed upon the company’s profitability. Also, currency fluctuations and stiff competition in the industry are also erodiding profits.”
ENS has been the topic of a number of other research reports. ValuEngine upgraded shares of Enersys from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Enersys in a report on Thursday, May 4th. Finally, BidaskClub downgraded shares of Enersys from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $84.33.
Enersys (NYSE ENS) traded down 2.43% during mid-day trading on Tuesday, hitting $63.41. The stock had a trading volume of 627,147 shares. The stock has a market cap of $2.75 billion, a PE ratio of 17.09 and a beta of 1.65. Enersys has a one year low of $62.31 and a one year high of $84.74. The firm’s 50-day moving average is $71.99 and its 200 day moving average is $76.99.
Enersys (NYSE:ENS) last issued its earnings results on Wednesday, August 9th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by $0.01. The company had revenue of $622.60 million for the quarter, compared to analyst estimates of $615.77 million. Enersys had a net margin of 6.86% and a return on equity of 18.90%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $1.14 EPS. Equities research analysts expect that Enersys will post $4.83 EPS for the current year.
Enersys declared that its board has approved a share buyback plan on Wednesday, August 9th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other news, VP Kerry M. Kane sold 4,413 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $82.16, for a total transaction of $362,572.08. Following the transaction, the vice president now directly owns 17,210 shares in the company, valued at $1,413,973.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Holger P. Aschke sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $81.00, for a total transaction of $243,000.00. Following the sale, the insider now directly owns 28,928 shares of the company’s stock, valued at $2,343,168. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,676 shares of company stock worth $627,462. Company insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENS. Quadrature Capital Ltd bought a new position in Enersys during the fourth quarter valued at $565,000. Teachers Advisors LLC boosted its stake in shares of Enersys by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 307,537 shares of the industrial products company’s stock worth $24,019,000 after buying an additional 2,337 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Enersys during the fourth quarter worth approximately $216,000. Foundry Partners LLC raised its position in shares of Enersys by 11.6% in the first quarter. Foundry Partners LLC now owns 160,983 shares of the industrial products company’s stock valued at $12,708,000 after buying an additional 16,778 shares during the last quarter. Finally, Copper Rock Capital Partners LLC raised its position in shares of Enersys by 38.6% in the first quarter. Copper Rock Capital Partners LLC now owns 494,484 shares of the industrial products company’s stock valued at $39,119,000 after buying an additional 137,802 shares during the last quarter. Institutional investors own 95.86% of the company’s stock.
Enersys Company Profile
EnerSys is a manufacturer, marketer and distributor of industrial batteries. The Company manufactures, markets and distributes related products, such as chargers, power equipment, outdoor cabinet enclosures and battery accessories, and provides related after-market and customer-support services for industrial batteries.
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