EnerSys (NYSE:ENS) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of EnerSys (NYSE:ENS) from a strong sell rating to a hold rating in a research report released on Tuesday, Zacks.com reports. The brokerage currently has $82.00 price objective on the industrial products company’s stock. According to Zacks, “EnerSys is set to benefit from solid product offerings and strengthening demand in […]

EnerSys logoZacks Investment Research upgraded shares of EnerSys (NYSE:ENS) from a strong sell rating to a hold rating in a research report released on Tuesday, Zacks.com reports. The brokerage currently has $82.00 price objective on the industrial products company’s stock.

According to Zacks, “EnerSys is set to benefit from solid product offerings and strengthening demand in transportation, defense, and lithium-based battery technology end markets. Also, solid product offerings, a healthy backlog of more than $1 billion and innovation capabilities indicate the company’s growth opportunities in the quarters ahead. Its sound capital allocation strategy adds to its attractiveness. However, EnerSys is dealing with the shortages of product components along with high freight and tariffs, and labor constraints, which might adversely impact its margins and profitability in the coming quarters. An increase in debt levels can raise its financial obligations and hurt profitability. Also, high capital expenditure might have a bearing on its short-term liquidity. In the past three months, EnerSys’ shares have underperformed the industry.”

Several other research firms also recently issued reports on ENS. TheStreet downgraded shares of EnerSys from a b- rating to a c+ rating in a research note on Tuesday, September 21st. Oppenheimer dropped their price target on shares of EnerSys from $105.00 to $90.00 and set an outperform rating for the company in a research note on Friday, November 12th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Buy and an average price target of $99.00.

Shares of NYSE:ENS opened at $79.90 on Tuesday. The company has a 50 day moving average of $78.45. The company has a market cap of $3.35 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 1.77 and a beta of 1.42. EnerSys has a one year low of $72.13 and a one year high of $104.47. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.86 and a current ratio of 2.92.

EnerSys (NYSE:ENS) last released its quarterly earnings results on Wednesday, November 10th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.05). The business had revenue of $791.40 million for the quarter, compared to the consensus estimate of $800.50 million. EnerSys had a net margin of 4.79% and a return on equity of 13.47%. During the same period in the previous year, the business posted $1.00 EPS. As a group, equities analysts predict that EnerSys will post 4.46 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Friday, December 17th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Thursday, December 16th. EnerSys’s dividend payout ratio is presently 20.00%.

In related news, insider Shawn M. O’connell sold 2,535 shares of EnerSys stock in a transaction on Tuesday, December 7th. The shares were sold at an average price of $78.95, for a total transaction of $200,138.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.37% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. First Horizon Advisors Inc. grew its holdings in EnerSys by 81.9% in the third quarter. First Horizon Advisors Inc. now owns 695 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 313 shares during the period. Rockefeller Capital Management L.P. grew its holdings in EnerSys by 150.8% in the third quarter. Rockefeller Capital Management L.P. now owns 479 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 288 shares during the period. Tompkins Financial Corp acquired a new stake in EnerSys in the third quarter worth $56,000. Heritage Wealth Management LLC grew its holdings in EnerSys by 57.5% in the second quarter. Heritage Wealth Management LLC now owns 885 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 323 shares during the period. Finally, Dark Forest Capital Management LP acquired a new stake in EnerSys in the third quarter worth $92,000. Institutional investors and hedge funds own 94.41% of the company’s stock.

EnerSys Company Profile

EnerSys engages in the provision of stored energy solutions for industrial applications. The company operates through the following segments: Energy Systems, Motive Power, and Specialty. The Energy Systems segment, which combine enclosures, power conversion, power distribution, and energy storage are used in the telecommunication, broadband and utility industries, uninterruptible power supplies, and other applications requiring stored energy solutions.

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Shares of NYSE:ENS opened at $79.90 on Tuesday. The company has a 50 day moving average of $78.45. The company has a market cap of $3.35 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 1.77 and a beta of 1.42. EnerSys has a one year low of $72.13 and a one year high of $104.47. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.86 and a current ratio of 2.92.

Source: https://etfdailynews.com/news/enersys-nyseens-upgraded-at-zacks-investment-research/

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