Essendant Inc (ESND) Receives Average Rating of “Hold” from Brokerages

Shares of Essendant Inc (NASDAQ:ESND) have received an average rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $16.50.

A number of research firms recently issued reports on ESND. BidaskClub cut Essendant from a “hold” rating to a “sell” rating in a report on Friday. ValuEngine cut Essendant from a “buy” rating to a “hold” rating in a report on Monday, October 2nd.

Several hedge funds have recently modified their holdings of the business. Thrivent Financial For Lutherans lifted its holdings in shares of Essendant by 5.8% in the 2nd quarter. Thrivent Financial For Lutherans now owns 22,660 shares of the company’s stock worth $336,000 after buying an additional 1,250 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Essendant by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,776 shares of the company’s stock worth $456,000 after buying an additional 1,333 shares during the period. Nationwide Fund Advisors lifted its holdings in shares of Essendant by 1.8% in the 2nd quarter. Nationwide Fund Advisors now owns 85,186 shares of the company’s stock worth $1,263,000 after buying an additional 1,500 shares during the period. Teachers Advisors LLC lifted its holdings in shares of Essendant by 2.0% in the 2nd quarter. Teachers Advisors LLC now owns 92,585 shares of the company’s stock worth $1,373,000 after buying an additional 1,797 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Essendant by 7.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 36,389 shares of the company’s stock worth $540,000 after buying an additional 2,661 shares during the period. Institutional investors and hedge funds own 96.43% of the company’s stock.

Essendant (NASDAQ:ESND) opened at $9.66 on Monday. Essendant has a 1-year low of $8.31 and a 1-year high of $22.52. The company has a current ratio of 2.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $363.71, a price-to-earnings ratio of -1.32 and a beta of 1.21.

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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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