Enersys (NYSE:ENS) Reaches New 12-Month High - Still a Buy?

Key Points

• Enersys shares reached a new 52-week high, trading at $105.35, with several analysts setting price targets of $120.00.
• The company reported its quarterly earnings, with earnings per share of $2.08, surpassing expectations and reflecting a year-over-year revenue increase of 4.7%.
• Enersys announced a quarterly dividend increase to $0.2625 per share, representing an annualized yield of 1.0% and a payout ratio of 10.96%.

Shares of Enersys (NYSE:ENS - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $105.35 and last traded at $104.59, with a volume of 246845 shares changing hands. The stock had previously closed at $103.77.

Analysts Set New Price Targets

Several research firms recently commented on ENS. Roth Capital restated a "buy" rating and set a $120.00 price target on shares of Enersys in a research report on Tuesday, August 5th. Roth Mkm reiterated a "buy" rating and issued a $120.00 target price on shares of Enersys in a research report on Wednesday, May 14th. Oppenheimer reiterated an "outperform" rating on shares of Enersys in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Enersys from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $118.33.

Enersys Trading Up 0.8%

The company's 50 day moving average price is $95.40 and its two-hundred day moving average price is $91.82. 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 stock has a market capitalization of $3.92 billion, a PE ratio of 11.94, a P/E/G ratio of 0.59 and a beta of 1.09.

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

Enersys Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a yield of 1.0%. This is a boost from Enersys's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, September 12th. Enersys's payout ratio is presently 10.96%.

Hedge Funds Weigh In On Enersys

A number of institutional investors have recently bought and sold shares of ENS. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Enersys during the second quarter worth about $28,000. Caitong International Asset Management Co. Ltd raised its stake in Enersys by 2,500.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 338 shares of the industrial products company's stock worth $31,000 after purchasing an additional 325 shares during the period. Gen Wealth Partners Inc purchased a new position in Enersys during the first quarter worth about $36,000. UMB Bank n.a. raised its stake in Enersys by 197.2% during the first quarter. UMB Bank n.a. now owns 428 shares of the industrial products company's stock worth $39,000 after purchasing an additional 284 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in Enersys by 626.3% during the second quarter. EverSource Wealth Advisors LLC now owns 552 shares of the industrial products company's stock worth $47,000 after purchasing an additional 476 shares during the period. 94.93% of the stock is owned by hedge funds and other institutional investors.

Enersys Company Profile

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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