EnerSys (ENS) was Upgraded by Maxim Group to ” Buy” and the brokerage firm has set the Price Target at $74. Earlier the firm had a rating of “Hold ” on the company shares. Maxim Group advised their investors in a research report released on Jun 2, 2016.
Many Wall Street Analysts have commented on EnerSys. Company shares were Reiterated by Stifel on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 70 from a previous price target of $67 .
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 opened for trading at $60.31 and hit $65.22 on the upside on Wednesday, eventually ending the session at $63.77, with a gain of 6.07% or 3.65 points. The heightened volatility saw the trading volume jump to 8,53,839 shares. Company has a market cap of $2,770 M.
Investors should note that on May 5, 2016, EnerSys announced a cash dividend of $0.1750. The company’s management has announced Jun 8, 2016 as the ex-dividend date and fixed the record date on Jun 10, 2016. The payable date has been fixed on Jun 24, 2016.
In a different news, on May 27, 2016, John D Craig (director) sold 8,490 shares at $59.65 per share price. According to the SEC, on May 26, 2016, Jeffrey W. Long (President, Americas) sold 2,500 shares at $58.87 per share price. On Nov 9, 2015, Michael J Schmidtlein (Sr. VP Finance & CFO) sold 10,000 shares at $63.84 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.