Ennis (NYSE:EBF) Reaches New 52-Week High on Analyst Upgrade

Key Points

• Ennis shares reached a new 52-week high of $22.37 after Wall Street Zen upgraded the stock from “hold” to “buy”; shares were recently up 1.4%.
• Analyst sentiment remains mixed, as Weiss Ratings downgraded Ennis from “buy (b-)” to “hold (c+).” MarketBeat reports an average analyst rating of “Hold.”
• Ennis reported quarterly EPS of $0.39, matching estimates, while revenue of $98.61 million exceeded expectations. The company also declared a quarterly dividend of $0.25 per share, equivalent to a 4.5% annualized yield.

Ennis, Inc. (NYSE:EBF - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The company traded as high as $22.37 and last traded at $22.3550, with a volume of 61216 shares. The stock had previously closed at $22.07.

Separately, Weiss Ratings downgraded shares of Ennis from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Ennis presently has an average rating of "Hold".

Institutional Trading of Ennis

Several institutional investors and hedge funds have recently modified their holdings of EBF. MBM Wealth Consultants LLC purchased a new position in Ennis in the 1st quarter valued at approximately $27,000. EverSource Wealth Advisors LLC raised its stake in Ennis by 1,037.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,524 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 1,390 shares in the last quarter. WealthCollab LLC lifted its holdings in shares of Ennis by 180.9% during the 4th quarter. WealthCollab LLC now owns 1,809 shares of the industrial products company's stock worth $33,000 after acquiring an additional 1,165 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Ennis by 56.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,456 shares of the industrial products company's stock valued at $45,000 after buying an additional 890 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in Ennis during the fourth quarter valued at about $51,000. 74.33% of the stock is owned by hedge funds and other institutional investors.

Ennis Trading Up 1.4%

The company has a market capitalization of $565.96 million, a PE ratio of 13.38 and a beta of 0.27. The firm has a fifty day moving average of $21.06 and a two-hundred day moving average of $20.78.

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

Ennis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Friday, July 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Friday, July 10th. Ennis's dividend payout ratio (DPR) is 59.88%.

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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