Canaccord Genuity Group Lowers Energizer (NYSE:ENR) Price Target to $32.00

Energizer (NYSE:ENR) had its price target cut by Canaccord Genuity Group from $33.00 to $32.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 9.70% from the company’s current price.

ENR has been the subject of a number of other reports. UBS Group lifted their price target on shares of Energizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday. Barclays lowered their target price on shares of Energizer from $36.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Morgan Stanley raised Energizer from an “underweight” rating to an “equal weight” rating and set a $33.00 price target on the stock in a research note on Wednesday. Truist Financial lowered their price objective on Energizer from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, StockNews.com lowered Energizer from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.71.

Energizer Price Performance

Shares of NYSE ENR traded up $0.20 during midday trading on Wednesday, hitting $29.17. The company had a trading volume of 217,810 shares, compared to its average volume of 499,335. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 22.72 and a beta of 1.04. Energizer has a twelve month low of $26.92 and a twelve month high of $37.32. The business has a 50-day simple moving average of $28.41 and a two-hundred day simple moving average of $30.51. The company has a quick ratio of 1.15, a current ratio of 2.03 and a debt-to-equity ratio of 19.36.

Energizer (NYSE:ENR) last posted its earnings results on Tuesday, May 7th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.05. The company had revenue of $663.30 million for the quarter, compared to analyst estimates of $664.10 million. Energizer had a return on equity of 123.29% and a net margin of 3.21%. During the same quarter in the prior year, the company earned $0.64 earnings per share. Energizer’s revenue was down 3.0% compared to the same quarter last year. Equities research analysts anticipate that Energizer will post 3.21 earnings per share for the current year.

Institutional Trading of Energizer

A number of hedge funds and other institutional investors have recently made changes to their positions in ENR. Vanguard Group Inc. grew its position in shares of Energizer by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 9,378,622 shares of the company’s stock worth $297,115,000 after acquiring an additional 79,940 shares in the last quarter. FMR LLC boosted its holdings in Energizer by 28.2% in the third quarter. FMR LLC now owns 6,860,185 shares of the company’s stock worth $219,800,000 after purchasing an additional 1,508,081 shares during the period. LSV Asset Management increased its stake in Energizer by 1.4% during the third quarter. LSV Asset Management now owns 1,750,934 shares of the company’s stock valued at $56,100,000 after purchasing an additional 23,844 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Energizer by 0.5% during the third quarter. Gamco Investors INC. ET AL now owns 1,270,495 shares of the company’s stock worth $40,707,000 after purchasing an additional 6,823 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Energizer by 12.5% during the third quarter. Principal Financial Group Inc. now owns 895,249 shares of the company’s stock worth $28,683,000 after purchasing an additional 99,353 shares during the period. Institutional investors own 93.74% of the company’s stock.

Energizer Company Profile

Energizer Holdings, Inc, together with its subsidiaries, manufactures, markets, and distributes household batteries, specialty batteries, and lighting products worldwide. It offers lithium, alkaline, carbon zinc, nickel metal hydride, zinc air, and silver oxide batteries under the Energizer, Eveready, and Rayovac brands; primary, rechargeable, specialty, and hearing aid batteries; and handheld, headlights, lanterns, and area lights, as well as flashlights under the Hard Case, Dolphin, and WeatherReady brands.