Essendant Inc. (NASDAQ:ESND) Downgraded by BidaskClub to Strong Sell
Essendant Inc. (NASDAQ:ESND) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.
Other equities research analysts have also recently issued research reports about the stock. TheStreet cut shares of Essendant from a “c-” rating to a “d+” rating in a report on Thursday, July 27th. Zacks Investment Research cut shares of Essendant from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Essendant has an average rating of “Hold” and an average price target of $17.33.
Essendant (NASDAQ:ESND) opened at 11.60 on Friday. The firm’s market cap is $435.34 million. Essendant has a 1-year low of $11.47 and a 1-year high of $22.52. The firm’s 50-day moving average price is $13.55 and its 200-day moving average price is $16.05.
Essendant (NASDAQ:ESND) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.09. Essendant had a negative net margin of 2.87% and a positive return on equity of 5.75%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company earned $0.55 EPS. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. Equities research analysts anticipate that Essendant will post $1.09 earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of ESND. Acrospire Investment Management LLC boosted its stake in Essendant by 1.5% in the first quarter. Acrospire Investment Management LLC now owns 6,981 shares of the company’s stock worth $106,000 after buying an additional 100 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Essendant by 77.4% in the second quarter. State of Alaska Department of Revenue now owns 7,344 shares of the company’s stock valued at $108,000 after buying an additional 3,204 shares in the last quarter. Mason Street Advisors LLC boosted its stake in shares of Essendant by 8.5% in the first quarter. Mason Street Advisors LLC now owns 8,762 shares of the company’s stock valued at $133,000 after buying an additional 684 shares in the last quarter. Hartford Investment Management Co. bought a new stake in shares of Essendant during the second quarter valued at about $163,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Essendant by 5.7% in the second quarter. Nisa Investment Advisors LLC now owns 12,900 shares of the company’s stock valued at $191,000 after buying an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 91.91% of the company’s stock.
Essendant Company Profile
Essendant Inc (Essendant) is a wholesale distributor of workplace items. The Company’s product portfolio includes Janitorial, Foodservice and Breakroom Supplies (JanSan), Technology Products, Traditional Office Products, Industrial Supplies, Cut Sheet Paper Products, Automotive Products and Office Furniture.
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