Zacks Investment Research Lowers Energizer (NYSE:ENR) to Sell

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Energizer (NYSE:ENR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Zacks.com reports. They presently have a $45.00 target price on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 4.21% from the company’s previous close.

According to Zacks, “Shares of Energizer have underperformed the industry in the past three months. This may be attributed to the company’s dismal performance during the second quarter of fiscal 2019, wherein both the top line and the bottom line missed the Zacks Consensus Estimate. Also, its earnings per share fell from the year-ago period. Further, management lowered its earnings view for fiscal 2019. Dismal margins as well as high debt level might have also kept investors on their toes. Headwinds related to currency fluctuations and commodity costs cannot be ignored. Nevertheless, the company is focused on driving productivity by the execution of improvement initiatives, streamlining international organization and optimizing manufacturing footprint. Also, it is on track with acquisitions to boost revenue and drive profitability. “

A number of other brokerages also recently commented on ENR. TheStreet upgraded shares of Energizer from a “c+” rating to a “b-” rating in a research note on Tuesday, April 23rd. Goldman Sachs Group upgraded shares of Energizer from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $48.00 to $60.00 in a research note on Sunday, March 31st. Citigroup upgraded shares of Energizer from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $54.00 in a research note on Tuesday, May 14th. Barclays reiterated a “buy” rating and set a $54.00 target price on shares of Energizer in a research note on Sunday, March 3rd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Energizer in a research note on Friday, March 22nd. They set a “neutral” rating and a $49.00 target price for the company. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $57.69.

Shares of NYSE:ENR traded down $0.04 during trading on Friday, hitting $43.18. The company’s stock had a trading volume of 5,490 shares, compared to its average volume of 869,902. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 4.22 and a beta of 0.64. The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 5.51. Energizer has a fifty-two week low of $40.71 and a fifty-two week high of $65.57.

Energizer (NYSE:ENR) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.02). The business had revenue of $556.40 million during the quarter, compared to analyst estimates of $565.61 million. Energizer had a return on equity of 102.03% and a net margin of 1.15%. The business’s revenue was up 48.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 EPS. On average, analysts expect that Energizer will post 2.94 EPS for the current year.

In related news, Director Robert V. Vitale purchased 1,765 shares of Energizer stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average cost of $42.31 per share, with a total value of $74,677.15. Following the completion of the transaction, the director now directly owns 8,225 shares in the company, valued at $347,999.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.25% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Twin Tree Management LP purchased a new position in Energizer during the first quarter worth about $28,000. Quantamental Technologies LLC acquired a new stake in Energizer during the first quarter worth approximately $29,000. Osborn Williams & Donohoe LLC acquired a new stake in Energizer during the first quarter worth approximately $31,000. Advisory Services Network LLC boosted its position in Energizer by 107.7% during the first quarter. Advisory Services Network LLC now owns 754 shares of the company’s stock worth $34,000 after acquiring an additional 391 shares during the last quarter. Finally, Coastal Investment Advisors Inc. acquired a new stake in Energizer during the first quarter worth approximately $89,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

About Energizer

Energizer Holdings, Inc manufacturers and markets batteries and lighting products. The company’s products include household batteries, specialty batteries, and portable lighting. Energizer Holdings was founded in 2000 and is headquartered in St. Louis, MO.

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Analyst Recommendations for Energizer (NYSE:ENR)

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