EnerSys (NYSE:ENS) Downgraded by StockNews.com

StockNews.com lowered shares of EnerSys (NYSE:ENS) from a strong-buy rating to a buy rating in a report issued on Friday morning.

Other research analysts have also recently issued reports about the company. Oppenheimer cut EnerSys from an outperform rating to a market perform rating in a research note on Friday, February 9th. BTIG Research cut EnerSys from a buy rating to a neutral rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, EnerSys currently has a consensus rating of Hold and an average price target of $126.00.

EnerSys Price Performance

NYSE ENS traded down $0.77 during trading hours on Friday, reaching $107.18. 543,566 shares of the stock traded hands, compared to its average volume of 242,819. The stock has a 50 day simple moving average of $93.49 and a two-hundred day simple moving average of $93.73. EnerSys has a 1 year low of $83.27 and a 1 year high of $113.34. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.46 and a quick ratio of 1.53. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 0.91 and a beta of 1.35.

EnerSys (NYSE:ENS) last issued its earnings results on Wednesday, May 22nd. The industrial products company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.06. The business had revenue of $910.70 million during the quarter, compared to analyst estimates of $893.64 million. EnerSys had a return on equity of 20.21% and a net margin of 7.51%. EnerSys’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 earnings per share. On average, analysts predict that EnerSys will post 8.47 EPS for the current fiscal year.

EnerSys Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, June 14th. EnerSys’s dividend payout ratio (DPR) is currently 13.85%.

Hedge Funds Weigh In On EnerSys

Several hedge funds have recently made changes to their positions in ENS. NBC Securities Inc. purchased a new position in EnerSys during the 3rd quarter valued at $25,000. Huntington National Bank lifted its holdings in EnerSys by 189.6% in the third quarter. Huntington National Bank now owns 362 shares of the industrial products company’s stock worth $34,000 after buying an additional 237 shares during the period. Covestor Ltd boosted its position in EnerSys by 231.6% during the 1st quarter. Covestor Ltd now owns 378 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 264 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of EnerSys by 1,386.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 446 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 416 shares during the period. Finally, Principal Securities Inc. bought a new position in shares of EnerSys in the 4th quarter worth approximately $52,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

About EnerSys

EnerSys provides various stored energy solutions for industrial applications worldwide. It operates in three segments: Energy Systems, Motive Power, and Specialty. The company offers uninterruptible power systems applications for computer and computer-controlled systems, as well as telecommunications systems; switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy storage, and energy pipelines; integrated power solutions and services to broadband, telecom, renewable, and industrial customers; and thermally managed cabinets and enclosures for electronic equipment and batteries.