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 target price hoisted by equities research analysts at Barclays from $24.00 to $27.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price target would indicate a potential downside of 6.48% from the stock's previous close.

ENR has been the topic of several other reports. Canaccord Genuity Group decreased their price objective on shares of Energizer from $31.00 to $27.00 and set a "hold" rating on the stock in a research report on Wednesday, May 7th. Truist Financial increased their price target on shares of Energizer from $30.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday. UBS Group restated a "neutral" rating and set a $29.00 price objective (up from $23.00) on shares of Energizer in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on Energizer from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $31.43.

Energizer Price Performance

Shares of ENR traded down $0.19 during trading hours on Wednesday, reaching $28.87. The company had a trading volume of 92,867 shares, compared to its average volume of 891,404. Energizer has a 12-month low of $19.70 and a 12-month high of $39.51. The company has a current ratio of 1.78, a quick ratio of 0.86 and a debt-to-equity ratio of 17.57. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 8.32 and a beta of 0.63. The firm has a 50 day simple moving average of $22.47 and a 200-day simple moving average of $26.46.

Energizer (NYSE:ENR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.52. The business had revenue of $725.30 million for the quarter, compared to analysts' expectations of $692.67 million. Energizer had a return on equity of 181.90% and a net margin of 8.60%. The company's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS. Research analysts expect that Energizer will post 3.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Donal L. Mulligan acquired 10,000 shares of the company's stock in a transaction dated Monday, May 19th. The stock was bought at an average price of $23.66 per share, with a total value of $236,600.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at $236,600. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick J. Moore bought 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average cost of $23.10 per share, for a total transaction of $231,000.00. Following the completion of the transaction, the director directly owned 15,000 shares of the company's stock, valued at approximately $346,500. The trade was a 200.00% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 21,000 shares of company stock valued at $491,460. Company insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. increased its holdings in Energizer by 58.8% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,094,195 shares of the company's stock valued at $62,658,000 after purchasing an additional 775,221 shares in the last quarter. LSV Asset Management raised its stake in Energizer by 28.4% during the first quarter. LSV Asset Management now owns 2,327,824 shares of the company's stock valued at $69,648,000 after buying an additional 515,124 shares in the last quarter. Millennium Management LLC boosted its holdings in Energizer by 66.7% in the fourth quarter. Millennium Management LLC now owns 1,240,038 shares of the company's stock worth $43,265,000 after purchasing an additional 496,146 shares during the period. Nuveen LLC acquired a new stake in Energizer during the first quarter worth about $9,069,000. Finally, Amundi grew its stake in Energizer by 512.3% during the 1st quarter. Amundi now owns 311,795 shares of the company's stock worth $9,151,000 after buying an additional 260,869 shares during the last quarter. Institutional investors and hedge funds own 93.74% 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, 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.