EnerSys (NYSE:ENS) Shares Gap Down - Here's Why

EnerSys (NYSE:ENS - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $95.50, but opened at $81.72. EnerSys shares last traded at $78.11, with a volume of 394,910 shares changing hands.

Wall Street Analyst Weigh In

Separately, Roth Mkm reaffirmed a "buy" rating and issued a $120.00 target price on shares of EnerSys in a report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, EnerSys presently has a consensus rating of "Buy" and a consensus target price of $117.50.

EnerSys Stock Down 16.4%

The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.00 and a current ratio of 3.06. The stock's fifty day simple moving average is $89.92 and its two-hundred day simple moving average is $94.37. The stock has a market capitalization of $3.15 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 0.57 and a beta of 1.13.

EnerSys (NYSE:ENS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The industrial products company reported $2.97 EPS for the quarter, topping analysts' consensus estimates of $2.78 by $0.19. The company had revenue of $974.80 million for the quarter, compared to analyst estimates of $973.45 million. EnerSys had a net margin of 9.23% and a return on equity of 20.78%. EnerSys's revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 earnings per share. As a group, research analysts expect that EnerSys will post 9.99 EPS for the current fiscal year.

Hedge Funds Weigh In On EnerSys

Hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its holdings in EnerSys by 87.2% during the 3rd quarter. Barclays PLC now owns 184,110 shares of the industrial products company's stock worth $18,788,000 after purchasing an additional 85,742 shares during the last quarter. Perpetual Ltd increased its position in shares of EnerSys by 88.5% during the fourth quarter. Perpetual Ltd now owns 4,241 shares of the industrial products company's stock worth $392,000 after buying an additional 1,991 shares during the period. Janney Montgomery Scott LLC raised its stake in EnerSys by 12.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 17,502 shares of the industrial products company's stock worth $1,618,000 after buying an additional 1,876 shares during the last quarter. Inspire Investing LLC lifted its holdings in EnerSys by 7.0% in the fourth quarter. Inspire Investing LLC now owns 4,333 shares of the industrial products company's stock valued at $400,000 after buying an additional 283 shares during the period. Finally, Tributary Capital Management LLC boosted its position in EnerSys by 25.9% during the fourth quarter. Tributary Capital Management LLC now owns 239,765 shares of the industrial products company's stock valued at $22,161,000 after acquiring an additional 49,392 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors.

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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