Energizer (NYSE:ENR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Shares of Energizer have outpaced the industry in the past three months. Energizer’s robust surprise trend and solid guidance is boosting investor's confidence on the stock. Further, the company continues to gain from solid execution of its strategic priorities that include leading with innovation, operating with excellence and driving productivity. Moreover, the company’s acquisition strategy remains a key contributor for growth, the latest being the signing of agreement to acquire Reed-Union’s automotive appearance business, which includes the Nu Finish Car Polish and Nu Finish Scratch Doctor brands. However, the company has been grappling with waning margins since the last few quarters. We note that gross margin contracted 180 bps in second-quarter fiscal 2018. Also, soft guidance for the same, along with high debt-to-capital ratio add to the woes. The company had debt-to-capital ratio of 95.6% in the reported quarter.”
A number of other brokerages have also recently issued reports on ENR. Citigroup boosted their target price on shares of Energizer from $60.00 to $66.00 and gave the company a “neutral” rating in a report on Friday. ValuEngine raised shares of Energizer from a “hold” rating to a “buy” rating in a report on Thursday, May 31st. TheStreet raised shares of Energizer from a “c” rating to a “b-” rating in a report on Monday, June 11th. Jefferies Financial Group reissued a “hold” rating and set a $62.00 target price on shares of Energizer in a report on Thursday, March 29th. Finally, Deutsche Bank cut shares of Energizer from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $62.50.
ENR stock traded up $0.82 during midday trading on Tuesday, reaching $61.97. 14,733 shares of the company’s stock traded hands, compared to its average volume of 551,079. The company has a debt-to-equity ratio of 21.86, a current ratio of 1.90 and a quick ratio of 1.37. Energizer has a 52 week low of $40.64 and a 52 week high of $64.00. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 2.14 and a beta of 0.84.
Energizer (NYSE:ENR) last issued its earnings results on Wednesday, May 2nd. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Energizer had a net margin of 7.13% and a return on equity of 292.85%. The business had revenue of $374.40 million for the quarter, compared to analysts’ expectations of $374.32 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. equities research analysts anticipate that Energizer will post 3.37 EPS for the current year.
In other news, VP Emily K. Boss sold 7,500 shares of the business’s stock in a transaction on Wednesday, June 27th. The shares were sold at an average price of $63.00, for a total transaction of $472,500.00. Following the completion of the transaction, the vice president now directly owns 2,208 shares in the company, valued at approximately $139,104. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.79% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in ENR. Ceredex Value Advisors LLC purchased a new position in Energizer in the first quarter worth $181,490,000. Principal Financial Group Inc. grew its position in Energizer by 94.1% in the first quarter. Principal Financial Group Inc. now owns 969,684 shares of the company’s stock worth $57,774,000 after acquiring an additional 470,010 shares in the last quarter. JPMorgan Chase & Co. grew its position in Energizer by 11.3% in the first quarter. JPMorgan Chase & Co. now owns 4,070,157 shares of the company’s stock worth $242,501,000 after acquiring an additional 412,293 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Energizer by 79.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 836,065 shares of the company’s stock worth $49,813,000 after acquiring an additional 369,746 shares in the last quarter. Finally, Millennium Management LLC grew its position in Energizer by 375.0% in the fourth quarter. Millennium Management LLC now owns 427,457 shares of the company’s stock worth $20,509,000 after acquiring an additional 337,457 shares in the last quarter. Institutional investors own 99.29% of the company’s stock.
Energizer Company Profile
Energizer Holdings, Inc, together with its subsidiaries, manufactures, markets, and distributes household batteries, specialty batteries, and lighting products worldwide. It offers lithium, alkaline, carbon zinc, nickel metal hydride, zinc air, and silver oxide batteries under the Energizer and Eveready brands, as well as primary, rechargeable, specialty, and hearing aid products.
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