Essendant (NASDAQ:ESND) Upgraded to “Sell” by BidaskClub

Essendant (NASDAQ:ESND) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Wednesday, December 20th.

Other research analysts also recently issued research reports about the company. ValuEngine downgraded Essendant from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded Essendant from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Five research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus price target of $16.50.

Essendant (ESND) traded up $0.31 on Wednesday, reaching $10.23. The company’s stock had a trading volume of 321,928 shares, compared to its average volume of 303,455. The company has a market cap of $373.11, a price-to-earnings ratio of -1.40 and a beta of 1.21. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.04 and a quick ratio of 1.02. Essendant has a fifty-two week low of $8.31 and a fifty-two week high of $22.52.

Essendant (NASDAQ:ESND) last posted its earnings results on Wednesday, October 25th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.30). Essendant had a positive return on equity of 3.20% and a negative net margin of 5.26%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company posted $0.57 EPS. The firm’s revenue was down 7.0% on a year-over-year basis.

Institutional investors and hedge funds have recently modified their holdings of the business. Smith Asset Management Group LP purchased a new stake in Essendant during the 3rd quarter valued at $154,000. Trexquant Investment LP bought a new position in shares of Essendant during the 3rd quarter valued at $170,000. Cubist Systematic Strategies LLC bought a new position in shares of Essendant during the 2nd quarter valued at $179,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Essendant by 71.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 14,523 shares of the company’s stock valued at $215,000 after buying an additional 6,038 shares during the period. Finally, KBC Group NV bought a new position in shares of Essendant during the 3rd quarter valued at $220,000. Institutional investors and hedge funds own 96.43% of the company’s stock.

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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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