Essendant (ESND) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Essendant (NASDAQ:ESND) from a strong sell rating to a sell rating in a research note published on Wednesday morning.

Several other equities analysts have also commented on ESND. ValuEngine lowered Essendant from a buy rating to a hold rating in a research report on Monday, October 2nd. Zacks Investment Research raised Essendant from a strong sell rating to a hold rating in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $16.50.

Essendant (NASDAQ:ESND) opened at $9.23 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $350.54, a price-to-earnings ratio of -1.26 and a beta of 1.21. Essendant has a 52-week low of $8.31 and a 52-week high of $22.52.

Essendant (NASDAQ:ESND) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.30). The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Essendant had a negative net margin of 5.26% and a positive return on equity of 3.20%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 EPS.

Institutional investors and hedge funds have recently bought and sold shares of the company. California Public Employees Retirement System raised its position in shares of Essendant by 6.1% in the 2nd quarter. California Public Employees Retirement System now owns 188,700 shares of the company’s stock worth $2,798,000 after purchasing an additional 10,900 shares during the last quarter. CNA Financial Corp raised its position in shares of Essendant by 14.9% in the 3rd quarter. CNA Financial Corp now owns 101,837 shares of the company’s stock worth $1,341,000 after purchasing an additional 13,238 shares during the last quarter. Pzena Investment Management LLC raised its position in shares of Essendant by 23.8% in the 3rd quarter. Pzena Investment Management LLC now owns 4,325,038 shares of the company’s stock worth $56,961,000 after purchasing an additional 832,767 shares during the last quarter. Numeric Investors LLC purchased a new position in shares of Essendant in the 2nd quarter worth about $328,000. Finally, Parametric Portfolio Associates LLC raised its position in shares of Essendant by 41.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 273,750 shares of the company’s stock worth $4,060,000 after purchasing an additional 80,294 shares during the last quarter. 96.43% of the stock is owned by hedge funds and other institutional investors.

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About Essendant

Essendant Inc (Essendant) is a wholesale distributor of workplace items. The Company’s product portfolio includes Janitorial, Foodservice and Breakroom Supplies (JanSan), Technology Products, Traditional Office Products, Industrial Supplies, Cut Sheet Paper Products, Automotive Products and Office Furniture.

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