Ennis (NYSE:EBF) Hits New 52-Week High – Time to Buy?

Ennis, Inc. (NYSE:EBF) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $22.56 and last traded at $22.53, with a volume of 171390 shares changing hands. The stock had previously closed at $22.10.

Analysts Set New Price Targets

EBF has been the subject of a number of recent research reports. Weiss Ratings downgraded Ennis from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Wall Street Zen cut Ennis from a “buy” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Ennis Stock Up 1.4%

The firm has a market cap of $566.72 million, a price-to-earnings ratio of 13.41 and a beta of 0.27. The company has a 50-day moving average price of $21.36 and a 200 day moving average price of $20.96.

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

Ennis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Friday, July 10th were issued a $0.25 dividend. The ex-dividend date was Friday, July 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.5%. Ennis’s dividend payout ratio is currently 59.88%.

Institutional Trading of Ennis

Institutional investors have recently made changes to their positions in the stock. Royce & Associates LP raised its stake in shares of Ennis by 4.1% during the 4th quarter. Royce & Associates LP now owns 1,300,634 shares of the industrial products company’s stock worth $23,424,000 after purchasing an additional 51,634 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Ennis by 46.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 72,120 shares of the industrial products company’s stock valued at $1,533,000 after buying an additional 22,947 shares in the last quarter. Sei Investments Co. increased its holdings in Ennis by 39.2% in the first quarter. Sei Investments Co. now owns 97,482 shares of the industrial products company’s stock worth $2,088,000 after buying an additional 27,458 shares during the last quarter. Fifth Third Bancorp raised its position in Ennis by 221,938.5% during the first quarter. Fifth Third Bancorp now owns 28,865 shares of the industrial products company’s stock valued at $618,000 after acquiring an additional 28,852 shares in the last quarter. Finally, Quantinno Capital Management LP raised its position in Ennis by 46.2% during the first quarter. Quantinno Capital Management LP now owns 76,753 shares of the industrial products company’s stock valued at $1,644,000 after acquiring an additional 24,256 shares in the last quarter. 74.33% of the stock is currently owned by institutional investors and hedge funds.

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.