Energizer (NYSE:ENR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
According to Zacks, “Energizer is one of the leading names in the global batteries and lighting products business. The company’s battery business generates over 90% of the revenues. Acquisition of HandStands diversified its portfolio by including brands like Refresh Your Car!, California Scents and Eagle One. Acquisition and strong product portfolio will continue to drive top line. Energizer also has a strong shareholder returns plan in place, which is an added positive. Further, solid guidance is boosting investor's confidence on the stock. Shares have outperformed the broader market in the past one year. On the flip side, decline in volume of battery businessand high debt-equity ratio act as woes. Also, currency fluctuation remains a headwind.”
Several other research firms have also recently issued reports on ENR. Jefferies Group restated a “hold” rating and set a $62.00 target price on shares of Energizer in a research note on Thursday, March 29th. Deutsche Bank cut shares of Energizer from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Citigroup cut shares of Energizer from a “buy” rating to a “neutral” rating and upped their target price for the company from $52.00 to $64.00 in a research note on Wednesday, January 17th. SunTrust Banks upped their target price on shares of Energizer to $70.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, KeyCorp restated a “buy” rating and set a $64.00 target price (up previously from $55.00) on shares of Energizer in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $60.89.
Energizer (NYSE:ENR) last posted its earnings results on Wednesday, January 31st. The company reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.12. The business had revenue of $573.30 million for the quarter, compared to analysts’ expectations of $566.50 million. Energizer had a net margin of 9.40% and a return on equity of 274.69%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.51 EPS. analysts forecast that Energizer will post 3.39 EPS for the current year.
In other news, VP Emily K. Boss sold 7,500 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $56.00, for a total value of $420,000.00. Following the transaction, the vice president now owns 9,708 shares in the company, valued at approximately $543,648. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Susan K. Drath sold 13,904 shares of the stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $63.27, for a total transaction of $879,706.08. Following the completion of the transaction, the vice president now owns 22,367 shares in the company, valued at approximately $1,415,160.09. The disclosure for this sale can be found here. 1.79% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Ford Financial Group Inc. bought a new position in shares of Energizer in the 4th quarter worth approximately $114,000. Captrust Financial Advisors bought a new position in shares of Energizer in the 4th quarter worth approximately $118,000. Zions Bancorporation bought a new position in shares of Energizer in the 3rd quarter worth approximately $120,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Energizer by 51.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,643 shares of the company’s stock worth $175,000 after purchasing an additional 1,231 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Energizer in the 4th quarter worth approximately $215,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.
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Energizer Company Profile
Energizer Holdings, Inc is a manufacturer, marketer and distributor of household batteries, specialty batteries and lighting products. The Company is a designer and marketer of automotive fragrance and appearance products. It operates through four geographic segments: North America, which consists of the United States and Canada; Latin America, which includes its markets in Mexico, the Caribbean, Central America and South America; Europe, the Middle East and Africa (EMEA), and Asia Pacific, which consists of its markets in Asia, Australia and New Zealand.
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