Ennis (NYSE:EBF) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Ennis from “hold” to “buy,” while Weiss Ratings also reaffirmed a buy rating, leaving the stock with an overall average “Buy” rating.
• Ennis shares were down 1.5% in Friday trading, opening at $21.38, with a market cap of about $540.9 million and a low-beta profile of 0.27.
• The company recently reported quarterly earnings in line with estimates, posting EPS of $0.39 on revenue of $98.61 million, while institutional investors continued to add to their positions.

Ennis (NYSE:EBF - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Separately, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Ennis in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy".

Ennis Trading Down 1.5%

NYSE EBF opened at $21.38 on Friday. The stock has a market capitalization of $540.91 million, a price-to-earnings ratio of 12.80 and a beta of 0.27. The business's 50 day moving average is $20.75 and its two-hundred day moving average is $20.50. Ennis has a 12-month low of $16.30 and a 12-month high of $22.36.

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

Institutional Trading of Ennis

Several institutional investors and hedge funds have recently made changes to their positions in EBF. Allspring Global Investments Holdings LLC boosted its stake in shares of Ennis by 3.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,700,919 shares of the industrial products company's stock valued at $30,617,000 after acquiring an additional 55,500 shares during the last quarter. Royce & Associates LP raised its stake in Ennis by 4.1% in the 4th quarter. Royce & Associates LP now owns 1,300,634 shares of the industrial products company's stock valued at $23,424,000 after purchasing an additional 51,634 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Ennis by 7.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,220,960 shares of the industrial products company's stock valued at $21,989,000 after purchasing an additional 82,521 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ennis by 5.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 689,695 shares of the industrial products company's stock valued at $12,511,000 after purchasing an additional 37,513 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Ennis by 72.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 632,839 shares of the industrial products company's stock worth $11,397,000 after purchasing an additional 266,533 shares during the last quarter. 74.33% of the stock is currently owned by hedge funds and other institutional investors.

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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