Ennis (NYSE:EBF) Cut to “Hold” at Wall Street Zen
by Danessa Lincoln · The Markets DailyWall Street Zen lowered shares of Ennis (NYSE:EBF – Free Report) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.
Separately, Weiss Ratings raised shares of Ennis from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.
Read Our Latest Stock Report on EBF
Ennis Stock Up 1.0%
NYSE:EBF opened at $22.36 on Friday. The company has a fifty day moving average of $21.72 and a 200-day moving average of $21.20. The firm has a market capitalization of $565.76 million, a P/E ratio of 14.62 and a beta of 0.27. Ennis has a twelve month low of $16.30 and a twelve month high of $22.94.
Ennis (NYSE:EBF – Get Free Report) last issued its earnings results on Monday, September 21st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $102.01 million for the quarter, compared to the consensus estimate of $99.85 million. Ennis had a return on equity of 12.64% and a net margin of 9.81%.
Ennis Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 9th will be given a dividend of $0.2625 per share. The ex-dividend date of this dividend is Friday, October 9th. This is an increase from Ennis’s previous quarterly dividend of $0.25. This represents a $1.05 dividend on an annualized basis and a dividend yield of 4.7%. Ennis’s payout ratio is 65.36%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its holdings in shares of Ennis by 13.0% in the second quarter. CoreCap Advisors LLC now owns 4,293 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 494 shares during the period. Parallel Advisors LLC raised its stake in shares of Ennis by 18.3% during the 1st quarter. Parallel Advisors LLC now owns 3,641 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 562 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Ennis by 21.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,172 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 729 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Ennis during the 2nd quarter worth about $25,000. Finally, Compass Financial Management LLC bought a new position in Ennis in the 2nd quarter worth about $27,000. 74.33% of the stock is currently owned by hedge funds and other institutional investors.
About Ennis
Ennis, Inc (NYSE: EBF) is a manufacturer and supplier of printed business products headquartered in Midlothian, Texas. The company primarily serves independent distributors, print resellers and other business customers rather than selling directly to consumers.
Its product portfolio includes business forms, envelopes, labels, tags, checks, presentation folders, promotional products, apparel and other customized printed materials. Ennis also provides products used in commercial printing, packaging and workplace communications, with offerings manufactured through a network of production facilities and sold under various company brands.
Founded in 1909, Ennis has expanded over its history through organic growth and acquisitions in the printing and related product industries.