Zacks Investment Research upgraded shares of Enersys (NYSE:ENS) from a strong sell rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “EnerSys has a decent earnings surprise history with three strong beats over the trailing four quarters. Going forward, we believe that positive industry trend and strong sales of products, like lead chargers and battery management systems, will drive growth of Motive business. EnerSys’ long-term growth drivers include higher demand for premium products, lean initiatives, robust prospects in Asia, cost reduction programs and strategic product launches. However, on the flip side, EnerSys’ shares have yielded a negative return over the past six months, comparing unfavorably to the industry’s average positive return. Of late, volatility in cost of commodities (especially lead) has weighed upon the company’s profitability. In addition, currency fluctuations and stiff competition in the industry are also eroding the company’s profits.”
A number of other research firms also recently issued reports on ENS. BidaskClub upgraded shares of Enersys from a strong sell rating to a sell rating in a research report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. restated a buy rating and set a $82.00 target price (down from $92.00) on shares of Enersys in a research report on Wednesday, August 9th. Sidoti upgraded shares of Enersys from a neutral rating to a buy rating and set a $83.00 target price on the stock in a research report on Thursday, August 17th. Finally, ValuEngine downgraded shares of Enersys from a buy rating to a hold rating in a research report on Saturday, August 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $82.50.
Shares of Enersys (ENS) traded down 0.19% during trading on Wednesday, hitting $68.48. 195,017 shares of the stock traded hands. The company has a market cap of $2.97 billion, a PE ratio of 18.45 and a beta of 1.70. The company has a 50 day moving average of $66.76 and a 200-day moving average of $73.45. Enersys has a 1-year low of $61.33 and a 1-year high of $84.74.
Enersys (NYSE:ENS) last released its earnings results on Wednesday, August 9th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). Enersys had a net margin of 6.86% and a return on equity of 18.90%. The business had revenue of $622.60 million for the quarter, compared to analyst estimates of $615.77 million. During the same quarter in the previous year, the company posted $1.14 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts anticipate that Enersys will post $4.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a $0.175 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.02%. Enersys’s dividend payout ratio is 18.87%.
Enersys announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 9th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
Several large investors have recently made changes to their positions in ENS. Advisor Group Inc. raised its position in shares of Enersys by 1.2% in the 2nd quarter. Advisor Group Inc. now owns 1,483 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 18 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Enersys by 7.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,699 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 122 shares during the period. Flinton Capital Management LLC raised its position in shares of Enersys by 68.1% in the 2nd quarter. Flinton Capital Management LLC now owns 1,936 shares of the industrial products company’s stock valued at $140,000 after acquiring an additional 784 shares during the period. Alpine Global Management LLC acquired a new stake in shares of Enersys in the 2nd quarter valued at approximately $220,000. Finally, Riverhead Capital Management LLC raised its position in shares of Enersys by 77.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,197 shares of the industrial products company’s stock valued at $232,000 after acquiring an additional 1,397 shares during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.
Enersys Company Profile
EnerSys is a manufacturer, marketer and distributor of industrial batteries. The Company manufactures, markets and distributes related products, such as chargers, power equipment, outdoor cabinet enclosures and battery accessories, and provides related after-market and customer-support services for industrial batteries.
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