Ennis (NYSE:EBF) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Ennis (NYSE:EBF) from a hold rating to a buy rating in a report published on Monday morning.

Separately, Weiss Ratings cut shares of Ennis from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Ennis Price Performance

Shares of NYSE EBF opened at $22.09 on Monday. Ennis has a 1-year low of $16.30 and a 1-year high of $22.36. The business has a fifty day moving average price of $21.06 and a 200 day moving average price of $20.78. The stock has a market capitalization of $558.83 million, a P/E ratio of 13.23 and a beta of 0.27.

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

Ennis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, July 10th. Ennis’s payout ratio is presently 59.88%.

Hedge Funds Weigh In On Ennis

Several hedge funds have recently made changes to their positions in EBF. Goldman Sachs Group Inc. increased its holdings in shares of Ennis by 72.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 632,839 shares of the industrial products company’s stock valued at $11,397,000 after purchasing an additional 266,533 shares during the period. Royal Bank of Canada lifted its holdings in shares of Ennis by 608.4% during the fourth quarter. Royal Bank of Canada now owns 170,356 shares of the industrial products company’s stock worth $3,068,000 after purchasing an additional 146,307 shares during the period. Almitas Capital LLC acquired a new stake in shares of Ennis during the fourth quarter worth about $2,503,000. Creative Planning boosted its position in Ennis by 201.7% in the third quarter. Creative Planning now owns 159,412 shares of the industrial products company’s stock valued at $2,914,000 after buying an additional 106,575 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Ennis by 7.2% in the fourth 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 buying an additional 82,521 shares during the last quarter. 74.33% of the stock is owned by institutional investors and hedge funds.

About Ennis

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.