Ennis (NYSE:EBF) Hits New 12-Month High - What's Next?

Key Points

• Ennis shares reached a new 52-week high, trading as high as $22.56 and closing near $22.53, up 1.4% during the session. The stock’s market capitalization was approximately $566.7 million.
• The company’s latest quarterly results met expectations, with EPS of $0.39 and revenue of $98.61 million versus the $98.20 million consensus estimate. Ennis also maintains a quarterly dividend of $0.25, representing a 4.5% annualized yield.
• Analyst sentiment has softened, with Weiss Ratings and Wall Street Zen downgrading the stock from Buy to Hold; MarketBeat reports a consensus Hold rating. Institutional investors and hedge funds own approximately 74.33% of outstanding shares.

Shares of Ennis, Inc. (NYSE:EBF - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $22.56 and last traded at $22.53, with a volume of 171390 shares trading hands. The stock had previously closed at $22.10.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Weiss Ratings lowered shares of Ennis from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, July 30th. Wall Street Zen downgraded shares of Ennis from a "buy" rating to a "hold" rating in a research report on Saturday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold".

Ennis Trading Up 1.4%

The stock has a 50-day simple moving average of $21.36 and a 200-day simple moving average of $20.96. The company has a market cap of $566.72 million, a price-to-earnings ratio of 13.41 and a beta of 0.27.

Ennis (NYSE:EBF - Get Free Report) last released its quarterly earnings results on Monday, June 22nd. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. Ennis had a return on equity of 13.89% and a net margin of 10.84%.The company had revenue of $98.61 million during the quarter, compared to analysts' expectations of $98.20 million. During the same quarter in the prior year, the business posted $0.38 earnings per share.

Ennis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Friday, July 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Friday, July 10th. Ennis's dividend payout ratio is currently 59.88%.

Hedge Funds Weigh In On Ennis

Several hedge funds have recently modified their holdings of EBF. Bank of America Corp DE acquired a new position in Ennis during the second quarter worth about $4,833,000. Legal & General Group Plc bought a new position in shares of Ennis during the 2nd quarter valued at about $130,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Ennis during the 2nd quarter valued at about $1,413,000. Compass Financial Management LLC acquired a new position in shares of Ennis in the 2nd quarter worth approximately $27,000. Finally, Evolve Private Wealth LLC bought a new stake in shares of Ennis in the 2nd quarter worth approximately $638,000. 74.33% of the stock is currently owned by institutional investors and hedge funds.

About Ennis

Ennis, Inc NYSE: EBF is a provider of print and related products and services designed to meet the needs of businesses and organizations across a variety of industries. Headquartered in Dallas, Texas, Ennis offers business forms, checks, manuals, labels, promotional signage and specialty packaging. The company also delivers e-commerce and software solutions that enable customers to manage orders, customize print jobs and streamline supply-chain processes through its integrated online platform.

Ennis's core product offerings include continuous business forms, laser checks and security-enhanced documents, as well as graphic communications materials such as brochures, catalogs and direct-mail collateral.

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