Wall Street Zen Downgrades Ennis (NYSE:EBF) to Hold

Key Points

• Wall Street Zen downgraded Ennis (NYSE: EBF) from “buy” to “hold,” though Weiss Ratings separately reiterated a “buy (b-)” rating and the overall consensus from MarketBeat remains a Buy.
• Ennis recently reported Q quarterly earnings in line with expectations, posting $0.39 EPS and $98.61 million in revenue, both slightly above analyst estimates.
• The stock was trading at $21.56 with a market cap of about $545.5 million; institutional ownership remains high at 74.33%.

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

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

Ennis Price Performance

EBF stock opened at $21.56 on Friday. The company has a 50 day moving average price of $20.86 and a 200 day moving average price of $20.61. Ennis has a fifty-two week low of $16.30 and a fifty-two week high of $22.36. The stock has a market capitalization of $545.52 million, a PE ratio of 12.91 and a beta of 0.27.

Ennis (NYSE:EBF - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $98.20 million. Ennis had a return on equity of 13.89% and a net margin of 10.84%.During the same period last year, the company earned $0.38 EPS.

Hedge Funds Weigh In On Ennis

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

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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