EnerSys (NYSE:ENS) Rating Lowered to Hold at Wall Street Zen

Key Points

• Enersys was downgraded from a "strong-buy" to a "hold" rating by Wall Street Zen, while Oppenheimer and Roth Mkm maintained "outperform" and "buy" ratings, respectively, with a price target of $120.00.
• The company's recent earnings report showed an EPS of $2.08, beating estimates and a revenue increase of 4.7% year-over-year, amounting to $893 million.
• Insider buying activity was reported, with CFO Andrea J. Funk and CEO Shawn M. O'Connell acquiring shares, reflecting confidence in the company's future performance.

Wall Street Zen lowered shares of EnerSys (NYSE:ENS - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Saturday.

Several other research analysts have also commented on ENS. Oppenheimer restated an "outperform" rating on shares of EnerSys in a research report on Friday. Roth Mkm reaffirmed a "buy" rating and issued a $120.00 price objective on shares of EnerSys in a report on Wednesday, May 14th. Finally, Roth Capital reissued a "buy" rating and set a $120.00 price target on shares of EnerSys in a research note on Tuesday, August 5th.

EnerSys Stock Performance

ENS traded down $0.24 on Friday, reaching $95.36. 533,532 shares of the stock were exchanged, compared to its average volume of 375,665. The company's 50-day moving average price is $88.49 and its 200 day moving average price is $91.36. EnerSys has a fifty-two week low of $76.57 and a fifty-two week high of $104.36. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.00 and a quick ratio of 1.91. The firm has a market capitalization of $3.57 billion, a PE ratio of 10.89, a PEG ratio of 0.54 and a beta of 1.08.

EnerSys (NYSE:ENS - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.08 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.03. The company had revenue of $893.00 million during the quarter, compared to analysts' expectations of $848.02 million. EnerSys had a return on equity of 21.99% and a net margin of 9.60%. EnerSys's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.98 EPS. As a group, sell-side analysts forecast that EnerSys will post 9.99 EPS for the current fiscal year.

EnerSys Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 12th. This is an increase from EnerSys's previous quarterly dividend of $0.24. EnerSys's dividend payout ratio is currently 11.99%.

Insider Transactions at EnerSys

In other news, CFO Andrea J. Funk acquired 315 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was bought at an average cost of $80.20 per share, with a total value of $25,263.00. Following the transaction, the chief financial officer directly owned 50,645 shares in the company, valued at approximately $4,061,729. This represents a 0.63% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Shawn M. O'connell bought 475 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was purchased at an average price of $83.76 per share, with a total value of $39,786.00. Following the transaction, the chief executive officer owned 43,030 shares in the company, valued at approximately $3,604,192.80. This represents a 1.12% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 1,085 shares of company stock valued at $89,726. 0.91% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EnerSys

Hedge funds have recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of EnerSys in the second quarter valued at $28,000. Quarry LP increased its stake in shares of EnerSys by 153.4% in the fourth quarter. Quarry LP now owns 337 shares of the industrial products company's stock worth $31,000 after acquiring an additional 204 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of EnerSys by 2,500.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 338 shares of the industrial products company's stock worth $31,000 after acquiring an additional 325 shares during the last quarter. Gen Wealth Partners Inc acquired a new position in shares of EnerSys in the first quarter worth $36,000. Finally, UMB Bank n.a. increased its stake in shares of EnerSys by 197.2% in the first quarter. UMB Bank n.a. now owns 428 shares of the industrial products company's stock worth $39,000 after acquiring an additional 284 shares during the last quarter. Institutional investors own 94.93% of the company's stock.

About EnerSys

EnerSys engages in the provision of stored energy solutions for industrial applications worldwide. It operates in four segments: Energy Systems, Motive Power, Specialty, and New Ventures. The Energy Systems segment offers uninterruptible power systems (UPS) applications for computer and computer-controlled systems, as well as telecommunications systems; switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy storage, and energy pipelines; integrated power solutions and services to broadband, telecom, data center, and renewable and industrial customers; and thermally managed cabinets and enclosures for electronic equipment and batteries.