Enersys (ENS) Downgraded by ValuEngine to Hold
ValuEngine cut shares of Enersys (NYSE:ENS) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.
Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Enersys from a hold rating to a buy rating and set a $83.00 price target on the stock in a research note on Thursday, June 1st. Oppenheimer Holdings, Inc. restated a buy rating on shares of Enersys in a research note on Thursday, May 4th. Finally, Sidoti upgraded Enersys from a neutral rating to a buy rating and set a $83.00 price target on the stock in a research note on Thursday, August 17th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $82.67.
Enersys (ENS) traded up 0.75% during midday trading on Friday, hitting $63.02. The stock had a trading volume of 129,904 shares. The company’s 50 day moving average price is $69.20 and its 200-day moving average price is $75.83. Enersys has a 52-week low of $61.33 and a 52-week high of $84.74. The stock has a market cap of $2.74 billion, a PE ratio of 16.98 and a beta of 1.65.
Enersys (NYSE:ENS) last posted its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.13 by $0.01. Enersys had a net margin of 6.86% and a return on equity of 18.90%. The business had revenue of $622.60 million during the quarter, compared to analyst estimates of $615.77 million. During the same quarter in the prior year, the business earned $1.14 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Analysts forecast that Enersys will post $4.67 EPS for the current fiscal year.
Enersys announced that its board has approved a share buyback program on Wednesday, August 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, September 14th. Enersys’s dividend payout ratio (DPR) is currently 18.87%.
Several hedge funds have recently bought and sold shares of the company. Advisor Group Inc. boosted its stake in Enersys by 1.2% in the second quarter. Advisor Group Inc. now owns 1,483 shares of the industrial products company’s stock worth $107,000 after buying an additional 18 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Enersys by 7.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,699 shares of the industrial products company’s stock worth $123,000 after buying an additional 122 shares during the period. Flinton Capital Management LLC boosted its stake in Enersys by 68.1% in the second quarter. Flinton Capital Management LLC now owns 1,936 shares of the industrial products company’s stock worth $140,000 after buying an additional 784 shares during the period. First Interstate Bank boosted its stake in Enersys by 0.4% in the first quarter. First Interstate Bank now owns 2,375 shares of the industrial products company’s stock worth $187,000 after buying an additional 10 shares during the period. Finally, Engineers Gate Manager LP purchased a new stake in Enersys during the first quarter worth approximately $205,000. Institutional investors and hedge funds own 97.52% 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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