Ennis (NYSE:EBF) Hits New 1-Year High – Here’s Why

Ennis, Inc. (NYSE:EBF) shares hit a new 52-week high on Wednesday . The stock traded as high as $22.14 and last traded at $22.07, with a volume of 18343 shares trading hands. The stock had previously closed at $21.72.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EBF shares. Wall Street Zen raised shares of Ennis from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Ennis in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Ennis has a consensus rating of “Hold”.

Ennis Price Performance

The company has a market capitalization of $559.10 million, a P/E ratio of 13.32 and a beta of 0.31. The company’s 50-day moving average price is $20.86 and its two-hundred day moving average price is $18.87.

Ennis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Investors of record on Monday, April 13th will be paid a $0.25 dividend. The ex-dividend date is Monday, April 13th. This represents a $1.00 annualized dividend and a dividend yield of 4.5%. Ennis’s dividend payout ratio is 60.24%.

Hedge Funds Weigh In On Ennis

Institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new position in shares of Ennis in the third quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Ennis by 1,037.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,524 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 1,390 shares in the last quarter. WealthCollab LLC grew its stake in shares of Ennis by 180.9% in the fourth quarter. WealthCollab LLC now owns 1,809 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 1,165 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Ennis by 56.8% in the second quarter. BNP Paribas Financial Markets now owns 2,456 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 890 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Ennis in the fourth quarter valued at about $51,000. 74.33% of the stock is currently owned by institutional investors and hedge funds.

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.