EnerSys (NYSE:ENS) Downgraded by BTIG Research

BTIG Research cut shares of EnerSys (NYSE:ENS) from a buy rating to a neutral rating in a research note issued to investors on Friday, MarketBeat reports.

Several other brokerages also recently issued reports on ENS. Oppenheimer downgraded EnerSys from an outperform rating to a market perform rating in a report on Friday, February 9th. StockNews.com upgraded EnerSys from a buy rating to a strong-buy rating in a research note on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average price target of $126.00.

EnerSys Stock Performance

ENS stock opened at $107.18 on Friday. The stock’s 50 day simple moving average is $93.49 and its 200 day simple moving average is $93.82. EnerSys has a 12-month low of $83.27 and a 12-month high of $113.34. The firm has a market cap of $4.30 billion, a P/E ratio of 16.49, a P/E/G ratio of 0.90 and a beta of 1.35. The company has a current ratio of 2.46, a quick ratio of 1.53 and a debt-to-equity ratio of 0.46.

EnerSys (NYSE:ENS) last issued its earnings results on Wednesday, May 22nd. The industrial products company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.06. EnerSys had a net margin of 7.51% and a return on equity of 20.21%. The company had revenue of $910.70 million for the quarter, compared to analysts’ expectations of $893.64 million. During the same period in the prior year, the company earned $1.82 earnings per share. The firm’s revenue was down 8.0% compared to the same quarter last year. As a group, equities research analysts predict that EnerSys will post 8.54 EPS for the current year.

EnerSys Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, June 14th. EnerSys’s payout ratio is currently 13.85%.

Hedge Funds Weigh In On EnerSys

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of EnerSys by 1.4% in the first quarter. Vanguard Group Inc. now owns 4,396,164 shares of the industrial products company’s stock valued at $415,262,000 after acquiring an additional 60,021 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of EnerSys by 1.1% during the first quarter. Janus Henderson Group PLC now owns 1,306,505 shares of the industrial products company’s stock worth $123,412,000 after purchasing an additional 14,531 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of EnerSys by 3.8% during the first quarter. Principal Financial Group Inc. now owns 894,688 shares of the industrial products company’s stock valued at $84,512,000 after purchasing an additional 32,730 shares during the last quarter. Invesco Ltd. boosted its position in shares of EnerSys by 36.2% in the 3rd quarter. Invesco Ltd. now owns 852,077 shares of the industrial products company’s stock valued at $80,666,000 after purchasing an additional 226,630 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in EnerSys by 3.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 750,960 shares of the industrial products company’s stock worth $75,817,000 after purchasing an additional 22,202 shares in the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

About EnerSys

EnerSys provides various stored energy solutions for industrial applications worldwide. It operates in three segments: Energy Systems, Motive Power, and Specialty. The company offers uninterruptible power systems applications for computer and computer-controlled systems, as well as telecommunications systems; switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy storage, and energy pipelines; integrated power solutions and services to broadband, telecom, renewable, and industrial customers; and thermally managed cabinets and enclosures for electronic equipment and batteries.