EnerSys (ENS) Trading 5% Higher
EnerSys (NYSE:ENS) shares traded up 5% during mid-day trading on Tuesday . The company traded as high as $76.73 and last traded at $75.76. 519,815 shares changed hands during trading, an increase of 89% from the average session volume of 275,461 shares. The stock had previously closed at $72.13.
A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded EnerSys from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. CL King upgraded EnerSys from a “neutral” rating to a “buy” rating in a research note on Tuesday. Finally, Oppenheimer reiterated a “buy” rating and set a $77.00 price objective on shares of EnerSys in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. EnerSys currently has an average rating of “Hold” and an average target price of $80.00.
The company has a debt-to-equity ratio of 0.64, a current ratio of 3.43 and a quick ratio of 2.49. The stock has a market cap of $3,240.00, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 2.76 and a beta of 1.68.
EnerSys (NYSE:ENS) last posted its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.01. EnerSys had a return on equity of 18.17% and a net margin of 6.64%. The business had revenue of $617.30 million during the quarter, compared to the consensus estimate of $603.54 million. During the same period in the prior year, the company posted $1.15 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. sell-side analysts predict that EnerSys will post 4.58 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a $0.175 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.70 annualized dividend and a yield of 0.94%. EnerSys’s payout ratio is 19.02%.
EnerSys announced that its Board of Directors has initiated a stock buyback program on Wednesday, November 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Todd M. Sechrist sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $66.50, for a total transaction of $498,750.00. Following the sale, the insider now directly owns 61,182 shares of the company’s stock, valued at approximately $4,068,603. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of ENS. Advisor Group Inc. raised its holdings in shares of EnerSys by 1.2% during the 2nd quarter. Advisor Group Inc. now owns 1,483 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 18 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of EnerSys by 7.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,699 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 122 shares in the last quarter. Zions Bancorporation purchased a new stake in shares of EnerSys during the 3rd quarter worth approximately $130,000. Flinton Capital Management LLC raised its holdings in shares of EnerSys by 68.1% during the 2nd quarter. Flinton Capital Management LLC now owns 1,936 shares of the industrial products company’s stock worth $140,000 after acquiring an additional 784 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of EnerSys during the 3rd quarter worth approximately $188,000. 97.20% of the stock is currently owned by institutional investors and hedge funds.
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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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