Ennis (NYSE:EBF) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of Ennis (NYSE:EBF) from a buy rating to a hold rating in a report released on Sunday morning.

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Ennis in a research report on Friday, July 10th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy”.

Ennis Stock Performance

Shares of Ennis stock opened at $21.56 on Friday. Ennis has a 52-week low of $16.30 and a 52-week high of $22.36. The company’s 50 day moving average price is $20.86 and its 200-day moving average price is $20.63. The stock has a market capitalization of $545.52 million, a price-to-earnings ratio of 12.91 and a beta of 0.27.

Ennis (NYSE:EBF) last posted its quarterly earnings results on Monday, June 22nd. The industrial products company reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. The company had revenue of $98.61 million during the quarter, compared to analyst estimates of $98.20 million. Ennis had a net margin of 10.84% and a return on equity of 13.89%. During the same period in the prior year, the business posted $0.38 EPS.

Ennis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Friday, July 10th. Ennis’s dividend payout ratio (DPR) is currently 59.88%.

Hedge Funds Weigh In On Ennis

Several hedge funds have recently made changes to their positions in EBF. Allspring Global Investments Holdings LLC lifted its stake in Ennis by 3.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,700,919 shares of the industrial products company’s stock worth $30,617,000 after acquiring an additional 55,500 shares during the period. Royce & Associates LP increased its position in Ennis by 4.1% during the 4th quarter. Royce & Associates LP now owns 1,300,634 shares of the industrial products company’s stock valued at $23,424,000 after purchasing an additional 51,634 shares during the period. Charles Schwab Investment Management Inc. increased its position in Ennis by 7.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,220,960 shares of the industrial products company’s stock valued at $21,989,000 after purchasing an additional 82,521 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ennis by 5.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 689,695 shares of the industrial products company’s stock worth $12,511,000 after purchasing an additional 37,513 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Ennis by 72.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 632,839 shares of the industrial products company’s stock worth $11,397,000 after purchasing an additional 266,533 shares in the last quarter. 74.33% of the stock is owned by hedge funds and other institutional investors.

Ennis Company Profile

Ennis, Inc (NYSE: EBF) is a provider of print and related products and services designed to meet the needs of businesses and organizations across a variety of industries. Headquartered in Dallas, Texas, Ennis offers business forms, checks, manuals, labels, promotional signage and specialty packaging. The company also delivers e-commerce and software solutions that enable customers to manage orders, customize print jobs and streamline supply-chain processes through its integrated online platform.

Ennis’s core product offerings include continuous business forms, laser checks and security-enhanced documents, as well as graphic communications materials such as brochures, catalogs and direct-mail collateral.