JPMorgan Chase & Co. Boosts Energizer (NYSE:ENR) Price Target to $28.00

Key Points

• JPMorgan Chase & Co. raised its price target for Energizer (NYSE:ENR) from $27.00 to $28.00, indicating a potential upside of 15.54% from the company's previous close.
• Several other analysts have recently decreased their price targets for Energizer, with UBS Group setting a target of $23.00 and Barclays adjusting it to $24.00, both maintaining a "neutral" rating.
• Insiders, including Director Patrick J. Moore, have recently bought shares of Energizer, with Moore acquiring 10,000 shares valued at $231,000, indicating increased confidence in the company's future performance.

Energizer (NYSE:ENR - Get Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $27.00 to $28.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 15.54% from the company's previous close.

Several other brokerages also recently commented on ENR. UBS Group cut their price target on shares of Energizer from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Barclays cut their target price on shares of Energizer from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Truist Financial dropped their price objective on shares of Energizer from $40.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Canaccord Genuity Group decreased their price objective on shares of Energizer from $31.00 to $27.00 and set a "hold" rating for the company in a report on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $30.75.

Energizer Stock Up 1.5%

NYSE:ENR traded up $0.36 on Friday, hitting $24.24. The stock had a trading volume of 735,187 shares, compared to its average volume of 853,048. The company has a debt-to-equity ratio of 23.56, a quick ratio of 0.86 and a current ratio of 1.86. The stock has a market cap of $1.75 billion, a P/E ratio of 33.20 and a beta of 0.63. Energizer has a 1 year low of $19.70 and a 1 year high of $39.51. The firm's fifty day simple moving average is $22.01 and its two-hundred day simple moving average is $27.13.

Energizer (NYSE:ENR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.67 earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($0.01). Energizer had a net margin of 1.87% and a return on equity of 184.22%. The company had revenue of $662.90 million for the quarter, compared to the consensus estimate of $670.85 million. During the same period in the prior year, the company earned $0.72 earnings per share. The firm's revenue was down .1% on a year-over-year basis. Analysts predict that Energizer will post 3.58 earnings per share for the current year.

Insiders Place Their Bets

In other Energizer news, Director Patrick J. Moore acquired 10,000 shares of the stock in a transaction dated Monday, May 12th. The stock was acquired at an average price of $23.10 per share, with a total value of $231,000.00. Following the completion of the purchase, the director owned 15,000 shares in the company, valued at $346,500. This trade represents a 200.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Stephen Lavigne purchased 4,000 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was purchased at an average price of $21.67 per share, with a total value of $86,680.00. Following the purchase, the chief executive officer directly owned 277,645 shares of the company's stock, valued at $6,016,567.15. The trade was a 1.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 25,000 shares of company stock valued at $578,140 over the last 90 days. 0.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Energizer

Several institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its holdings in Energizer by 21.6% in the 4th quarter. Russell Investments Group Ltd. now owns 2,023 shares of the company's stock valued at $71,000 after purchasing an additional 360 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of Energizer by 2.3% during the 4th quarter. OneDigital Investment Advisors LLC now owns 16,935 shares of the company's stock valued at $591,000 after buying an additional 386 shares during the last quarter. Bank of Montreal Can lifted its stake in Energizer by 4.1% during the fourth quarter. Bank of Montreal Can now owns 11,978 shares of the company's stock worth $418,000 after purchasing an additional 470 shares during the last quarter. Vestcor Inc lifted its stake in Energizer by 3.7% during the first quarter. Vestcor Inc now owns 13,448 shares of the company's stock worth $402,000 after purchasing an additional 475 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its position in Energizer by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,522 shares of the company's stock worth $262,000 after buying an additional 477 shares during the period. 93.74% of the stock is currently owned by hedge funds and other institutional investors.

About Energizer

Energizer Holdings, Inc, together with its subsidiaries, manufactures, markets, and distributes household batteries, specialty batteries, and lighting products worldwide. It offers lithium, alkaline, carbon zinc, nickel metal hydride, zinc air, and silver oxide batteries under the Energizer, Eveready, and Rayovac brands; primary, rechargeable, specialty, and hearing aid batteries; and handheld, headlights, lanterns, and area lights, as well as flashlights under the Hard Case, Dolphin, and WeatherReady brands.

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