Ennis (NYSE:EBF) Downgraded to “Hold” Rating by Wall Street Zen

Ennis (NYSE:EBF) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ennis in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Ennis has a consensus rating of “Buy”.

Ennis Stock Performance

Shares of EBF opened at $21.56 on Friday. Ennis has a twelve month low of $16.30 and a twelve month high of $22.36. The firm’s 50 day moving average price is $20.86 and its two-hundred day moving average price is $20.61. The firm has a market cap of $545.52 million, a P/E ratio of 12.91 and a beta of 0.27.

Ennis (NYSE:EBF) last released its quarterly earnings results on Monday, June 22nd. The industrial products company reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. Ennis had a net margin of 10.84% and a return on equity of 13.89%. The company had revenue of $98.61 million during the quarter, compared to analysts’ expectations of $98.20 million. During the same quarter in the prior year, the company earned $0.38 earnings per share.

Hedge Funds Weigh In On Ennis

Large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in Ennis by 34.0% during the first quarter. Goldman Sachs Group Inc. now owns 363,680 shares of the industrial products company’s stock valued at $7,306,000 after purchasing an additional 92,266 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Ennis during the 1st quarter worth approximately $319,000. Cetera Investment Advisers raised its stake in shares of Ennis by 4.6% during the 2nd quarter. Cetera Investment Advisers now owns 14,417 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 633 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Ennis by 399.6% during the 2nd quarter. Quantbot Technologies LP now owns 4,971 shares of the industrial products company’s stock worth $90,000 after purchasing an additional 3,976 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Ennis by 18.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 68,511 shares of the industrial products company’s stock valued at $1,243,000 after buying an additional 10,744 shares during the last quarter. Institutional investors and hedge funds own 74.33% of the company’s stock.

About Ennis

Ennis, Inc (NYSE: EBF) is a provider of print and related products and services designed to meet the needs of businesses and organizations across a variety of industries. Headquartered in Dallas, Texas, Ennis offers business forms, checks, manuals, labels, promotional signage and specialty packaging. The company also delivers e-commerce and software solutions that enable customers to manage orders, customize print jobs and streamline supply-chain processes through its integrated online platform.

Ennis’s core product offerings include continuous business forms, laser checks and security-enhanced documents, as well as graphic communications materials such as brochures, catalogs and direct-mail collateral.