EnerSys (ENS) Hits New 1-Year High Following Earnings Beat

EnerSys (NYSE:ENS) reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $89.72 and last traded at $89.14, with a volume of 6053 shares trading hands. The stock had previously closed at $88.20.

The industrial products company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.01. EnerSys had a net margin of 4.46% and a return on equity of 17.30%. The firm had revenue of $660.50 million for the quarter, compared to analyst estimates of $659.18 million. During the same quarter last year, the business posted $1.05 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be given a $0.175 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.70 dividend on an annualized basis and a yield of 0.79%. EnerSys’s dividend payout ratio is currently 15.05%.

ENS has been the topic of a number of research analyst reports. Sidoti raised their target price on shares of EnerSys from $93.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, October 4th. ValuEngine upgraded shares of EnerSys from a “hold” rating to a “buy” rating in a research report on Monday, September 24th. Oppenheimer restated a “buy” rating on shares of EnerSys in a research report on Tuesday, October 30th. Zacks Investment Research upgraded shares of EnerSys from a “sell” rating to a “hold” rating and set a $100.00 target price on the stock in a research report on Monday, October 8th. Finally, Citigroup raised their target price on shares of EnerSys from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, October 4th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $99.00.

In other news, insider Myles Jones sold 13,460 shares of EnerSys stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $80.29, for a total transaction of $1,080,703.40. Following the transaction, the insider now owns 49,102 shares in the company, valued at $3,942,399.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Holger P. Aschke sold 3,915 shares of EnerSys stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $77.00, for a total transaction of $301,455.00. Following the transaction, the insider now owns 38,294 shares in the company, valued at approximately $2,948,638. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,920 shares of company stock worth $1,732,714. 1.50% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Macquarie Group Ltd. lifted its holdings in shares of EnerSys by 1,400.0% during the second quarter. Macquarie Group Ltd. now owns 3,000 shares of the industrial products company’s stock worth $224,000 after purchasing an additional 2,800 shares during the period. Legal & General Group Plc lifted its holdings in shares of EnerSys by 11.3% during the second quarter. Legal & General Group Plc now owns 67,868 shares of the industrial products company’s stock worth $5,066,000 after purchasing an additional 6,883 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in shares of EnerSys by 191.6% during the second quarter. Dynamic Technology Lab Private Ltd now owns 19,203 shares of the industrial products company’s stock worth $1,433,000 after purchasing an additional 12,618 shares during the period. Bailard Inc. acquired a new position in shares of EnerSys during the second quarter worth $455,000. Finally, HGK Asset Management Inc. lifted its holdings in shares of EnerSys by 15.8% during the second quarter. HGK Asset Management Inc. now owns 10,469 shares of the industrial products company’s stock worth $781,000 after purchasing an additional 1,425 shares during the period. Institutional investors own 95.96% of the company’s stock.

The firm has a market capitalization of $3.57 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.46 and a current ratio of 3.33.

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EnerSys Company Profile (NYSE:ENS)

EnerSys manufactures, markets, and distributes industrial batteries. The company offers battery chargers, power equipment, battery accessories, and outdoor cabinet enclosures, as well as related after-market and customer-support services for industrial batteries. It also provides reserve power products that are used for backup power for the continuous operation of critical applications in telecommunications systems, uninterruptible power systems applications for computer and computer-controlled systems, and other specialty power applications, including medical and security systems, premium starting, lighting, and ignition applications, as well as in switchgear, electrical control systems used in electric utilities, large-scale energy storage, energy pipelines, commercial aircraft, satellites, military aircraft, submarines, ships, and tactical vehicles.

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