Enersys (ENS) Upgraded to Hold by Zacks Investment Research
Enersys (NYSE:ENS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “EnerSys has a decent earnings surprise history with three strong beats over the trailing four quarters. 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 flip 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. In addition, currency fluctuations and stiff competition in the industry are also eroding the company’s profits.”
Other analysts have also issued research reports about the company. Sidoti raised 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. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $82.00 price target (down from $92.00) on shares of Enersys in a research note on Wednesday, August 9th. ValuEngine lowered Enersys from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, BidaskClub raised Enersys from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $82.50.
Shares of Enersys (ENS) traded up 0.16% during midday trading on Wednesday, hitting $68.61. 360,894 shares of the stock were exchanged. The stock has a market cap of $2.98 billion, a P/E ratio of 18.49 and a beta of 1.70. Enersys has a 12 month low of $61.33 and a 12 month high of $84.74. The firm has a 50 day moving average of $66.76 and a 200-day moving average of $73.45.
Enersys (NYSE:ENS) last announced its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). Enersys had a net margin of 6.86% and a return on equity of 18.90%. The firm had revenue of $622.60 million during the quarter, compared to analysts’ expectations of $615.77 million. During the same quarter in the prior year, the business earned $1.14 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that Enersys will post $4.67 EPS for the current year.
Enersys announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
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Hedge funds have recently bought and sold shares of the business. Advisor Group Inc. increased its holdings in Enersys by 1.2% during the 2nd quarter. Advisor Group Inc. now owns 1,483 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 18 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Enersys by 7.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,699 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 122 shares during the last quarter. Flinton Capital Management LLC increased its holdings in Enersys by 68.1% during the 2nd quarter. Flinton Capital Management LLC now owns 1,936 shares of the industrial products company’s stock worth $140,000 after purchasing an additional 784 shares during the last quarter. Alpine Global Management LLC purchased a new stake in Enersys during the 2nd quarter worth approximately $220,000. Finally, Riverhead Capital Management LLC increased its holdings in Enersys by 77.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,197 shares of the industrial products company’s stock worth $232,000 after purchasing an additional 1,397 shares during the last quarter. Institutional investors own 94.46% of the company’s stock.
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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