Enersys (NYSE:ENS) Raised to Buy at Wall Street Zen

Key Points

• Enersys has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, aligning with the current consensus rating of "Buy" and a price target of $118.33.
• The company reported $2.08 earnings per share, exceeding estimates, and had a revenue increase of 4.7% from the previous year.
• Institutional investors own 94.93% of Enersys stock, indicating strong confidence from hedge funds with several increasing their positions recently.

Enersys (NYSE:ENS - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Sunday.

Other research analysts have also issued research reports about the company. Oppenheimer reiterated an "outperform" rating on shares of Enersys in a research report on Friday, August 8th. Roth Capital reissued a "buy" rating and set a $120.00 price target on shares of Enersys in a research report on Tuesday, August 5th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $118.33.

Enersys Stock Performance

NYSE ENS opened at $111.61 on Friday. The firm has a market capitalization of $4.18 billion, a P/E ratio of 12.74, a P/E/G ratio of 0.64 and a beta of 1.09. Enersys has a 1-year low of $76.57 and a 1-year high of $113.60. 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 business's 50-day simple moving average is $100.44 and its 200-day simple moving average is $92.52.

Enersys (NYSE:ENS - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.03. The business had revenue of $893.00 million for the quarter, compared to analyst estimates of $848.02 million. Enersys had a return on equity of 21.99% and a net margin of 9.60%.The company's revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.98 EPS. Equities analysts predict that Enersys will post 9.99 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. QRG Capital Management Inc. increased its position in Enersys by 23.1% in the 1st quarter. QRG Capital Management Inc. now owns 7,046 shares of the industrial products company's stock worth $645,000 after purchasing an additional 1,323 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Enersys by 74.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 68,542 shares of the industrial products company's stock worth $6,339,000 after purchasing an additional 29,268 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Enersys by 11.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,760 shares of the industrial products company's stock worth $1,077,000 after purchasing an additional 1,165 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Enersys by 284.6% during the 1st quarter. GAMMA Investing LLC now owns 1,346 shares of the industrial products company's stock worth $123,000 after acquiring an additional 996 shares in the last quarter. Finally, CX Institutional bought a new stake in shares of Enersys during the 1st quarter worth about $69,000. 94.93% of the stock is owned by institutional investors and hedge funds.

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.

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