Ennis (NYSE:EBF) Stock Rating Upgraded by Wall Street Zen

Key Points

• Ennis (NYSE:EBF) received an upgrade from analysts at Wall Street Zen, moving from a "hold" to a "buy" rating.
• The company's stock is currently down 2.8%, with a market cap of $436.22 million and a P/E ratio of 10.44.
• Insider transactions reported include Director Walter D. Gruenes purchasing 5,500 shares, increasing their stake by 104.90%.

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

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ennis in a research note on Wednesday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold".

Ennis Stock Down 2.8%

EBF stock opened at $17.02 on Friday. The stock has a market capitalization of $436.22 million, a P/E ratio of 10.44 and a beta of 0.45. The firm has a 50-day simple moving average of $18.16 and a 200-day simple moving average of $18.48. Ennis has a 52 week low of $17.01 and a 52 week high of $22.29.

Ennis (NYSE:EBF - Get Free Report) last released its earnings results on Monday, September 22nd. The industrial products company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.13. The business had revenue of $98.68 million during the quarter, compared to analysts' expectations of $99.00 million. Ennis had a net margin of 10.86% and a return on equity of 13.99%.

Insiders Place Their Bets

In other news, Director Walter D. Gruenes bought 5,500 shares of the firm's stock in a transaction on Monday, July 28th. The shares were bought at an average cost of $17.99 per share, for a total transaction of $98,945.00. Following the acquisition, the director directly owned 10,743 shares of the company's stock, valued at $193,266.57. This trade represents a 104.90% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Ennis

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Ennis by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 1,836,537 shares of the industrial products company's stock valued at $36,896,000 after purchasing an additional 29,044 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Ennis by 2.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,649,924 shares of the industrial products company's stock valued at $33,196,000 after purchasing an additional 32,343 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Ennis by 268.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 995,093 shares of the industrial products company's stock valued at $19,991,000 after purchasing an additional 725,379 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Ennis by 11.5% in the 2nd quarter. American Century Companies Inc. now owns 799,448 shares of the industrial products company's stock worth $14,502,000 after acquiring an additional 82,400 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Ennis by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 798,109 shares of the industrial products company's stock worth $14,480,000 after acquiring an additional 25,975 shares during the last quarter. 74.33% of the stock is currently owned by institutional investors and hedge funds.

About Ennis

Ennis, Inc manufactures and sells business forms and other business products in the United States. The company offers snap sets, continuous forms, laser cut sheets, tags, labels, envelopes, integrated products, jumbo rolls, and pressure sensitive products under the Ennis, Royal Business Forms, Block Graphics, 360º Custom Labels, ColorWorx, Enfusion, Uncompromised Check Solutions, VersaSeal, Ad Concepts, FormSource Limited, Star Award Ribbon Company, Witt Printing, B&D Litho, Genforms, PrintGraphics, Calibrated Forms, PrintXcel, Printegra, Forms Manufacturers, Mutual Graphics, TRI-C Business Forms, Major Business Systems, Independent Printing, Hoosier Data Forms, Hayes Graphics, Wright Business Graphics, Wright 360, Integrated Print & Graphics, the Flesh Company, Impressions Direct, and AmeriPrint brands.

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