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

Key Points

• Enersys has been upgraded by Wall Street Zen from a "hold" rating to a "buy" rating, signaling increased confidence in the company's future performance.
• Wall Street analysts have set an average target price of $118.33, highlighting a potential upside from the current trading price of around $103.68.
• The company reported a strong quarterly earnings performance with an EPS of $2.08, surpassing analysts' expectations of $2.05 and marking a revenue increase of 4.7% year-over-year.

Wall Street Zen upgraded shares of Enersys (NYSE:ENS - Free Report) from a hold rating to a buy rating in a report issued on Saturday.

A number of other research firms have also issued reports on ENS. Roth Mkm reiterated a "buy" rating and issued a $120.00 target price on shares of Enersys in a research note on Wednesday, May 14th. Oppenheimer reiterated an "outperform" rating on shares of Enersys in a research note on Friday, August 8th. Finally, Roth Capital reiterated a "buy" rating and issued a $120.00 target price on shares of Enersys in a research note on Tuesday, August 5th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, Enersys currently has a consensus rating of "Buy" and an average target price of $118.33.

Enersys Trading Up 0.7%

NYSE:ENS traded up $0.74 on Friday, hitting $104.51. 105,721 shares of the stock were exchanged, compared to its average volume of 365,560. The stock has a market cap of $3.92 billion, a PE ratio of 11.93, a PEG ratio of 0.60 and a beta of 1.09. The company has a current ratio of 3.00, a quick ratio of 1.91 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average of $95.10 and a 200-day moving average of $91.73. Enersys has a fifty-two week low of $76.57 and a fifty-two week high of $105.35.

Enersys (NYSE:ENS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.08 EPS for the quarter, topping the consensus estimate of $2.05 by $0.03. Enersys had a return on equity of 21.99% and a net margin of 9.60%.The company had revenue of $893.00 million during the quarter, compared to analyst estimates of $848.02 million. During the same period in the prior year, the firm posted $1.98 earnings per share. The firm's revenue was up 4.7% on a year-over-year basis. As a group, equities analysts expect that Enersys will post 9.99 earnings per share for the current fiscal 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 issued a dividend of $0.2625 per share. The ex-dividend date of this dividend is Friday, September 12th. 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. Enersys's dividend payout ratio (DPR) is 10.96%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Enersys by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,521,282 shares of the industrial products company's stock worth $139,320,000 after purchasing an additional 43,615 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Enersys by 1.1% in the 4th quarter. Janus Henderson Group PLC now owns 1,322,767 shares of the industrial products company's stock worth $122,262,000 after purchasing an additional 13,786 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Enersys by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 989,020 shares of the industrial products company's stock worth $84,838,000 after purchasing an additional 23,252 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Enersys by 4.0% in the 2nd quarter. First Trust Advisors LP now owns 882,082 shares of the industrial products company's stock worth $75,656,000 after purchasing an additional 33,887 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Enersys by 48.9% in the 1st quarter. Millennium Management LLC now owns 617,475 shares of the industrial products company's stock worth $56,548,000 after purchasing an additional 202,727 shares during the last quarter. Institutional investors own 94.93% of the company's stock.

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.