EnerSys (ENS) Rating Increased to Strong-Buy at Zacks Investment Research
EnerSys (NYSE:ENS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Monday. The brokerage currently has a $85.00 target price on the stock. Zacks Investment Research’s target price indicates a potential upside of 9.52% from the stock’s previous close.
According to Zacks, “EnerSys’ second-quarter fiscal 2017 earnings per share of $1.15 topped the Zacks Consensus Estimate and improved substantially from the year-ago tally, mainly due to the company’s diligent restructuring initiatives, lower commodity costs, higher volume and positive mix. Going forward, bright prospects in the global motive power & reserve power businesses, along with its leading position in the lead-acid battery market will drive strong growth. Moreover, EnerSys’ plan to diversify its portfolio by launching premium products in nickel, zinc and lithium batteries is likely to boost its market share and profits. This apart, the company’s keen eye for acquisitions and strategic restructuring actions are expected to drive growth. However, on the flip side, lackluster global telecommunications spending, softness in certain key markets and currency fluctuations are likely to weigh on the company’s profits.”
Separately, Maxim Group lifted their target price on shares of EnerSys from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, August 12th.
Shares of EnerSys (NYSE:ENS) opened at 77.61 on Monday. The company has a market cap of $3.37 billion, a P/E ratio of 24.91 and a beta of 1.62. EnerSys has a 52 week low of $42.60 and a 52 week high of $76.27. The firm has a 50-day moving average of $67.00 and a 200 day moving average of $64.56.
EnerSys (NYSE:ENS) last announced its quarterly earnings results on Thursday, November 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.07. The company had revenue of $576 million for the quarter, compared to analyst estimates of $584.87 million. EnerSys had a net margin of 5.84% and a return on equity of 18.00%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 EPS. Equities analysts anticipate that EnerSys will post $4.45 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 16th will be paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $0.70 dividend on an annualized basis and a yield of 0.90%. EnerSys’s dividend payout ratio (DPR) is presently 22.36%.
A number of hedge funds have recently made changes to their positions in the stock. Credit Suisse AG raised its stake in shares of EnerSys by 14.4% in the third quarter. Credit Suisse AG now owns 65,030 shares of the company’s stock worth $4,499,000 after buying an additional 8,180 shares during the period. Ameritas Investment Partners Inc. raised its stake in EnerSys by 394.4% in the third quarter. Ameritas Investment Partners Inc. now owns 16,964 shares of the company’s stock valued at $1,174,000 after buying an additional 13,533 shares during the last quarter. Panagora Asset Management Inc. raised its stake in EnerSys by 5,756.7% in the third quarter. Panagora Asset Management Inc. now owns 53,823 shares of the company’s stock valued at $3,724,000 after buying an additional 52,904 shares during the last quarter. Gotham Asset Management LLC raised its stake in EnerSys by 137.1% in the third quarter. Gotham Asset Management LLC now owns 214,296 shares of the company’s stock valued at $14,827,000 after buying an additional 123,905 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in EnerSys during the third quarter valued at about $6,059,000. Institutional investors and hedge funds own 96.63% of the company’s stock.
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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