Barclays Issues Positive Forecast for Energizer (NYSE:ENR) Stock Price

Key Points

• Barclays raised its price target for Energizer from $24.00 to $27.00 while maintaining an "equal weight" rating on the stock, indicating a potential downside of 10.36% from current levels.
• JPMorgan Chase also updated its target price to $28.00, while other analysts provided varied ratings, with a consensus target price of $32.50 across the board.
• Energizer reported earnings of $1.13 per share, significantly beating estimates and marking a year-over-year revenue increase of 3.4% to $725.30 million for the quarter.

Energizer (NYSE:ENR - Get Free Report) had its price target boosted by stock analysts at Barclays from $24.00 to $27.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price target would suggest a potential downside of 6.11% from the stock's current price.

Several other research analysts have also recently issued reports on ENR. Truist Financial raised their price objective on Energizer from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on Energizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. UBS Group restated a "neutral" rating and issued a $29.00 price objective (up from $23.00) on shares of Energizer in a research note on Tuesday, August 5th. Finally, Canaccord Genuity Group reduced their price objective on Energizer from $31.00 to $27.00 and set a "hold" rating for the company in a research note on Wednesday, May 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $31.43.

Energizer Stock Down 1.0%

NYSE ENR traded down $0.30 during trading on Wednesday, hitting $28.76. The company's stock had a trading volume of 647,187 shares, compared to its average volume of 1,350,559. The company has a debt-to-equity ratio of 17.57, a current ratio of 1.78 and a quick ratio of 0.84. The company has a market cap of $1.96 billion, a PE ratio of 7.80 and a beta of 0.63. The business's 50 day simple moving average is $22.58 and its 200-day simple moving average is $26.31. Energizer has a fifty-two week low of $19.70 and a fifty-two week high of $39.51.

Energizer (NYSE:ENR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.52. The business had revenue of $725.30 million during the quarter, compared to the consensus estimate of $692.67 million. Energizer had a return on equity of 181.90% and a net margin of 8.60%. The company's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $0.79 earnings per share. On average, equities analysts anticipate that Energizer will post 3.58 EPS for the current fiscal year.

Insider Activity at Energizer

In related news, Director Donal L. Mulligan purchased 10,000 shares of Energizer stock in a transaction that occurred on Monday, May 19th. The stock was bought at an average cost of $23.66 per share, for a total transaction of $236,600.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at $236,600. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Patrick J. Moore purchased 10,000 shares of Energizer stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average price of $23.10 per share, with a total value of $231,000.00. Following the completion of the transaction, the director owned 15,000 shares of the company's stock, valued at $346,500. This represents a 200.00% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 21,000 shares of company stock valued at $491,460. 0.98% of the stock is owned by company insiders.

Institutional Trading of Energizer

Institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning boosted its stake in shares of Energizer by 173.8% in the second quarter. Creative Planning now owns 51,628 shares of the company's stock worth $1,041,000 after acquiring an additional 32,772 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Energizer by 7.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,867 shares of the company's stock valued at $340,000 after purchasing an additional 1,146 shares during the last quarter. M&G PLC lifted its stake in shares of Energizer by 23.0% in the 2nd quarter. M&G PLC now owns 321,720 shares of the company's stock valued at $6,434,000 after purchasing an additional 60,228 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in shares of Energizer by 134.8% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 46,473 shares of the company's stock valued at $937,000 after purchasing an additional 26,680 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Energizer in the 2nd quarter valued at $317,000. 93.74% of the stock is currently owned by hedge funds and other institutional investors.

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, Eveready, and Rayovac brands; primary, rechargeable, specialty, and hearing aid batteries; and handheld, headlights, lanterns, and area lights, as well as flashlights under the Hard Case, Dolphin, and WeatherReady brands.