Energizer Holdings, Inc. (ENR) Stock Rating Lowered by Zacks Investment Research
Energizer Holdings, Inc. (NYSE:ENR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Energizer reported third-quarter fiscal 2017 results wherein adjusted earnings beat the Zacks Consensus Estimate but revenues missed the consensus mark. However, on a year over year basis, revenues grew 3% year over year driven by the acquisition of auto care business. 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. However, battery business faces threat as these days devices come equipped with in-built batteries. Moreover, stiff competition and unfavorable forex fluctuations are added concerns. Shares have underperformed the broader market.”
Several other brokerages also recently weighed in on ENR. Jefferies Group LLC increased their target price on shares of Energizer Holdings from $54.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, April 19th. Morgan Stanley downgraded shares of Energizer Holdings from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $58.00 to $61.00 in a research note on Wednesday, April 19th. They noted that the move was a valuation call. Royal Bank Of Canada reduced their target price on shares of Energizer Holdings from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, May 5th. BidaskClub downgraded shares of Energizer Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, June 29th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $55.00 target price (down previously from $62.00) on shares of Energizer Holdings in a research note on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $53.86.
Energizer Holdings (NYSE:ENR) opened at 41.44 on Monday. Energizer Holdings has a 12-month low of $40.98 and a 12-month high of $60.07. The company’s 50 day moving average is $47.50 and its 200 day moving average is $52.68. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 13.76 and a beta of 0.57.
Energizer Holdings (NYSE:ENR) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.06. The company had revenue of $372 million for the quarter, compared to the consensus estimate of $390.88 million. Energizer Holdings had a net margin of 10.97% and a return on equity of 529.84%. Energizer Holdings’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Analysts forecast that Energizer Holdings will post $2.90 earnings per share for the current fiscal year.
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In related news, Director Robert V. Vitale purchased 7,300 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were purchased at an average cost of $41.61 per share, for a total transaction of $303,753.00. Following the completion of the acquisition, the director now owns 2,300 shares in the company, valued at approximately $95,703. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.73% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Commerce Bank boosted its position in Energizer Holdings by 4.8% in the second quarter. Commerce Bank now owns 270,021 shares of the company’s stock worth $12,967,000 after buying an additional 12,256 shares during the last quarter. Principal Financial Group Inc. boosted its position in Energizer Holdings by 59.9% in the second quarter. Principal Financial Group Inc. now owns 413,792 shares of the company’s stock worth $19,870,000 after buying an additional 154,990 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Energizer Holdings by 7.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,412 shares of the company’s stock worth $116,000 after buying an additional 169 shares during the last quarter. Buckingham Asset Management LLC boosted its position in Energizer Holdings by 5.4% in the second quarter. Buckingham Asset Management LLC now owns 10,700 shares of the company’s stock worth $514,000 after buying an additional 550 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its position in Energizer Holdings by 10.0% in the second quarter. Neuberger Berman Group LLC now owns 2,688,833 shares of the company’s stock worth $129,118,000 after buying an additional 244,332 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.
Energizer Holdings 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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