Essendant (NASDAQ:ESND) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday.

ESND has been the subject of a number of other reports. ValuEngine raised shares of Essendant from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research raised shares of Essendant from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Essendant currently has an average rating of “Hold” and an average target price of $16.50.

Essendant (NASDAQ ESND) traded up $0.19 during mid-day trading on Tuesday, reaching $8.53. 285,497 shares of the company were exchanged, compared to its average volume of 281,868. Essendant has a 12 month low of $8.31 and a 12 month high of $22.52. The company has a market capitalization of $327.03, a P/E ratio of 15.76 and a beta of 1.21. The company has a current ratio of 2.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.89.

Essendant (NASDAQ:ESND) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.30). Essendant had a positive return on equity of 3.20% and a negative net margin of 5.26%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the company earned $0.57 earnings per share. Essendant’s quarterly revenue was down 7.0% on a year-over-year basis.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP purchased a new stake in Essendant in the third quarter worth about $382,000. Public Employees Retirement System of Ohio grew its holdings in Essendant by 94.8% in the third quarter. Public Employees Retirement System of Ohio now owns 70,902 shares of the company’s stock worth $934,000 after purchasing an additional 34,513 shares during the period. GSA Capital Partners LLP purchased a new stake in Essendant in the third quarter worth about $225,000. California Public Employees Retirement System grew its holdings in Essendant by 19.7% in the third quarter. California Public Employees Retirement System now owns 225,906 shares of the company’s stock worth $2,975,000 after purchasing an additional 37,206 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. grew its holdings in Essendant by 63.6% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 185,900 shares of the company’s stock worth $2,447,000 after purchasing an additional 72,300 shares during the period. Institutional investors and hedge funds own 96.54% of the company’s stock.

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Essendant Company Profile

Essendant Inc (Essendant) is a wholesale distributor of workplace items. The Company’s product portfolio includes Janitorial, Foodservice and Breakroom Supplies (JanSan), Technology Products, Traditional Office Products, Industrial Supplies, Cut Sheet Paper Products, Automotive Products and Office Furniture.

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