Enersys (NYSE:ENS) Sets New 12-Month High – Here’s Why

Enersys (NYSE:ENS) shares reached a new 52-week high during trading on Monday . The company traded as high as $186.51 and last traded at $180.90, with a volume of 498639 shares trading hands. The stock had previously closed at $184.85.

Analysts Set New Price Targets

ENS has been the topic of several research analyst reports. Zacks Research downgraded Enersys from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. BTIG Research upgraded shares of Enersys from a “neutral” rating to a “buy” rating in a report on Monday, December 15th. Oppenheimer reaffirmed an “outperform” rating on shares of Enersys in a research report on Friday, November 7th. Roth Mkm reiterated a “buy” rating on shares of Enersys in a report on Tuesday. Finally, Wall Street Zen lowered Enersys from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.00.

Enersys Stock Up 2.0%

The stock has a market cap of $7.01 billion, a PE ratio of 22.22, a P/E/G ratio of 1.21 and a beta of 1.11. The business has a 50 day moving average price of $157.13 and a 200 day moving average price of $127.65. The company has a quick ratio of 1.73, a current ratio of 2.77 and a debt-to-equity ratio of 0.63.

Enersys (NYSE:ENS) last announced its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $951.30 million during the quarter, compared to the consensus estimate of $890.27 million. Enersys had a return on equity of 22.48% and a net margin of 9.05%.Enersys’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.12 earnings per share. Equities research analysts expect that Enersys will post 9.99 EPS for the current fiscal year.

Insider Transactions at Enersys

In related news, insider Chad C. Uplinger sold 6,702 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $151.46, for a total transaction of $1,015,084.92. Following the sale, the insider owned 23,713 shares in the company, valued at approximately $3,591,570.98. This trade represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Enersys

Several hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in Enersys in the 2nd quarter worth about $38,229,000. Millennium Management LLC increased its position in shares of Enersys by 257.8% in the third quarter. Millennium Management LLC now owns 556,771 shares of the industrial products company’s stock valued at $62,893,000 after buying an additional 401,167 shares in the last quarter. Ophir Asset Management Pty Ltd acquired a new position in shares of Enersys during the 2nd quarter worth approximately $28,719,000. Allianz Asset Management GmbH raised its stake in shares of Enersys by 249.0% during the 2nd quarter. Allianz Asset Management GmbH now owns 428,394 shares of the industrial products company’s stock worth $36,743,000 after buying an additional 305,635 shares during the period. Finally, Kennedy Capital Management LLC grew its stake in Enersys by 343.0% in the 3rd quarter. Kennedy Capital Management LLC now owns 311,320 shares of the industrial products company’s stock valued at $35,167,000 after acquiring an additional 241,045 shares during the period. 94.93% of the stock is owned by hedge funds and other institutional investors.

About Enersys

Enersys, headquartered in Reading, Pennsylvania, is a global leader in stored energy solutions, specializing in manufacturing and distributing industrial batteries, battery chargers, power equipment, and related accessories. The company serves a diverse range of end markets, including telecommunications, data centers, medical, aerospace, defense, electric vehicle motive power, and utility outcomes. Its products are engineered to deliver critical reserve power and motive power applications across key infrastructure and industrial sectors.

The company’s product portfolio encompasses lead-acid batteries, lithium-ion energy storage systems, chargers, inverters, power management software, and a broad array of battery accessories.