Ennis (NYSE:EBF) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Ennis shares crossed above their 200-day moving average, reaching $21.32 and last trading near $21.31, compared with the moving average of $21.15.
• Analyst opinions were mixed, with Weiss Ratings downgrading the stock to “hold” and Wall Street Zen upgrading it to “buy”; the overall consensus rating remains “Hold.”
• Ennis reported quarterly EPS of $0.39, in line with estimates, and revenue of $98.61 million, slightly above expectations. The company pays a quarterly dividend of $0.25 per share, implying a 4.7% yield, while institutional investors own 74.33% of the stock.

Shares of Ennis, Inc. (NYSE:EBF - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $21.15 and traded as high as $21.32. Ennis shares last traded at $21.3090, with a volume of 134,932 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have commented on EBF shares. Weiss Ratings downgraded Ennis from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. Wall Street Zen upgraded Ennis from a "hold" rating to a "buy" rating in a report on Sunday, August 23rd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold".

Ennis Price Performance

The firm's 50 day moving average price is $21.60 and its 200-day moving average price is $21.15. The stock has a market cap of $539.12 million, a P/E ratio of 12.76 and a beta of 0.27.

Ennis (NYSE:EBF - Get Free Report) last posted its quarterly earnings results on Monday, June 22nd. The industrial products company reported $0.39 EPS for the quarter, meeting analysts' consensus estimates of $0.39. The firm had revenue of $98.61 million for 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 quarter in the prior year, the company posted $0.38 earnings per share.

Ennis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.7%. The ex-dividend date was Friday, July 10th. Ennis's dividend payout ratio (DPR) is currently 59.88%.

Institutional Trading of Ennis

A number of institutional investors and hedge funds have recently modified their holdings of EBF. CoreCap Advisors LLC raised its stake in shares of Ennis by 13.0% in the second quarter. CoreCap Advisors LLC now owns 4,293 shares of the industrial products company's stock worth $91,000 after purchasing an additional 494 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Ennis by 18.3% during the first quarter. Parallel Advisors LLC now owns 3,641 shares of the industrial products company's stock valued at $78,000 after buying an additional 562 shares during the last quarter. Cetera Investment Advisers increased its holdings in Ennis by 4.6% in the 2nd quarter. Cetera Investment Advisers now owns 14,417 shares of the industrial products company's stock worth $262,000 after buying an additional 633 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Ennis by 21.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,172 shares of the industrial products company's stock worth $89,000 after buying an additional 729 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Ennis by 4.5% in the 3rd quarter. Franklin Resources Inc. now owns 20,294 shares of the industrial products company's stock worth $371,000 after buying an additional 874 shares in the last quarter. Institutional investors own 74.33% of the company's stock.

Ennis Company Profile

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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