BidaskClub upgraded shares of Essendant (NASDAQ:ESND) from a strong sell rating to a sell rating in a report issued on Wednesday morning.

A number of other equities analysts also recently issued reports on the company. ValuEngine downgraded Essendant from a buy rating to a hold rating in a research note on Monday, October 2nd. Zacks Investment Research raised Essendant from a strong sell rating to a hold rating in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $16.50.

Essendant (NASDAQ ESND) traded down $0.09 during mid-day trading on Wednesday, hitting $9.23. The stock had a trading volume of 166,739 shares, compared to its average volume of 405,106. The stock has a market cap of $350.54, a P/E ratio of -1.26 and a beta of 1.21. Essendant has a 52-week low of $8.31 and a 52-week high of $22.52. The company has a current ratio of 2.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.89.

Essendant (NASDAQ:ESND) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.30). The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Essendant had a positive return on equity of 3.20% and a negative net margin of 5.26%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the business earned $0.57 earnings per share.

A number of institutional investors have recently made changes to their positions in ESND. Frontier Capital Management Co. LLC bought a new position in Essendant in the 2nd quarter worth $13,369,000. Pzena Investment Management LLC raised its holdings in Essendant by 23.8% in the 3rd quarter. Pzena Investment Management LLC now owns 4,325,038 shares of the company’s stock worth $56,961,000 after purchasing an additional 832,767 shares during the period. Dimensional Fund Advisors LP raised its holdings in Essendant by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,698,887 shares of the company’s stock worth $40,024,000 after purchasing an additional 281,356 shares during the period. Citadel Advisors LLC raised its holdings in Essendant by 163.8% in the 3rd quarter. Citadel Advisors LLC now owns 411,118 shares of the company’s stock worth $5,414,000 after purchasing an additional 255,291 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Essendant by 95.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 449,739 shares of the company’s stock worth $6,671,000 after purchasing an additional 219,373 shares during the period. 96.43% of the stock is currently owned by institutional investors.

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About Essendant

Essendant Inc (Essendant) is a wholesale distributor of workplace items. The Company’s product portfolio includes Janitorial, Foodservice and Breakroom Supplies (JanSan), Technology Products, Traditional Office Products, Industrial Supplies, Cut Sheet Paper Products, Automotive Products and Office Furniture.

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