Enersys (ENS) Stock Rating Upgraded by Zacks Investment Research
Enersys (NYSE:ENS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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.”
Other research analysts have also issued reports about the company. Sidoti raised Enersys from a “neutral” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Thursday, August 17th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $82.00 target price (down from $92.00) on shares of Enersys in a report on Wednesday, August 9th. BidaskClub lowered Enersys from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Finally, ValuEngine lowered Enersys from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $82.50.
Shares of Enersys (ENS) traded down 0.562% during trading on Wednesday, reaching $68.095. 79,153 shares of the company’s stock traded hands. The company has a 50 day moving average of $66.92 and a 200-day moving average of $73.42. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 18.350 and a beta of 1.70. Enersys has a 1-year low of $61.33 and a 1-year high of $84.74.
Enersys (NYSE:ENS) last issued its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). The business had revenue of $622.60 million for the quarter, compared to analyst estimates of $615.77 million. Enersys had a net margin of 6.86% and a return on equity of 18.90%. Enersys’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the business posted $1.14 earnings per share. Equities analysts predict that Enersys will post $4.67 earnings per share for the current year.
Enersys declared that its board has initiated a share repurchase program on Wednesday, August 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Large investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System grew its holdings in Enersys by 29.2% during the second quarter. State Board of Administration of Florida Retirement System now owns 27,385 shares of the industrial products company’s stock worth $1,984,000 after acquiring an additional 6,192 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Enersys by 12.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 25,808 shares of the industrial products company’s stock worth $1,870,000 after acquiring an additional 2,846 shares during the period. Virginia Retirement Systems ET AL grew its holdings in Enersys by 100.0% during the second quarter. Virginia Retirement Systems ET AL now owns 33,200 shares of the industrial products company’s stock worth $2,405,000 after acquiring an additional 16,600 shares during the period. Bank of America Corp DE grew its holdings in Enersys by 23.8% during the first quarter. Bank of America Corp DE now owns 368,650 shares of the industrial products company’s stock worth $29,102,000 after acquiring an additional 70,950 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Enersys by 9.7% during the first quarter. Geode Capital Management LLC now owns 419,444 shares of the industrial products company’s stock worth $33,110,000 after acquiring an additional 37,122 shares during the period. 94.46% of the stock is currently owned by hedge funds and other institutional investors.
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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