EnerSys (ENS) is Reiterated by Maxim Group to Buy, Raises Price Target to $ 78

EnerSys (ENS) was Reiterated by Maxim Group to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 78 from a previous price target of $74 . Maxim Group advised their investors in a research report released on Aug 12, 2016.

Many Wall Street Analysts have commented on EnerSys. Maxim Group Upgraded EnerSys on Jun 2, 2016 to ” Buy”, Price Target of the shares are set at $74.

On the company’s financial health, EnerSys reported $1.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 10, 2016. Analyst had a consensus of $1.10. The company had revenue of $600.60 million for the quarter, compared to analysts expectations of $601.71 million. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS.

EnerSys opened for trading at $64.79 and hit $65.17 on the upside on Monday, eventually ending the session at $64.85, with a gain of 0.05% or 0.03 points. The heightened volatility saw the trading volume jump to 1,29,604 shares. Company has a market cap of $2,805 M.

In a different news, on Jun 6, 2016, Kerry M Kane (VP, Corporate Controller & PAO) sold 2,500 shares at $64.00 per share price. According to the SEC, on Jun 6, 2016, Holger P Aschke (President – EMEA) sold 2,982 shares at $63.43 per share price. On Jun 1, 2016, John D Craig (director) sold 25,779 shares at $59.78 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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