EnerSys (ENS) is Reiterated by Stifel to Buy, Raises Price Target to $ 70

EnerSys (ENS) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 70 from a previous price target of $67 . Stifel advised their investors in a research report released on May 6, 2016.

On the company’s financial health, EnerSys reported $0.92 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jan 28, 2016. Analyst had a consensus of $0.93. The company had revenue of $573.60 million for the quarter, compared to analysts expectations of $567.36 million. The company’s revenue was down -6.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.09 EPS.

EnerSys closed down -0.71 points or -1.25% at $56.28 with 1,55,567 shares getting traded on Wednesday. Post opening the session at $56.89, the shares hit an intraday low of $55.665 and an intraday high of $57.125 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Nov 9, 2015, Michael J Schmidtlein (Sr. VP Finance & CFO) sold 10,000 shares at $63.84 per share price. According to the SEC, on Jun 2, 2015, Richard W Zuidema (EVP & Secretary) sold 7,000 shares at $66.93 per share price. On Jun 2, 2015, Kerry M Kane (VP, Corporate Controller & PAO) sold 5,428 shares at $66.54 per share price, according to the Form-4 filing with the securities and exchange commission.

EnerSys is a manufacturer marketer and distributor of industrial batteries. The Company also manufacture market and distribute related products such as chargers power equipment outdoor cabinet enclosures and battery accessories. It provides related after-market and customer-support services for industrial batteries. The Company has two primary product lines: reserve power products and motive power products. Reserve power products are used for backup power for the continuous operation of critical applications in telecommunications systems uninterruptible power systems or UPS applications for computer and computer-controlled systems and other specialty power applications. Motive power products are used to provide power for electric industrial forklifts used in manufacturing warehousing and other material handling applications as well as mining equipment diesel locomotive starting and other rail equipment.


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