Bank of America Reaffirms Underperform Rating for Energizer (ENR)

Energizer (NYSE:ENR)‘s stock had its “underperform” rating reissued by equities research analysts at Bank of America in a report issued on Thursday. They currently have a $45.00 target price on the stock, down from their previous target price of $50.00. Bank of America’s price objective points to a potential downside of 2.30% from the company’s current price.

ENR has been the subject of several other reports. Citigroup cut their target price on shares of Energizer from $65.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, November 19th. Jefferies Financial Group reissued a “buy” rating and set a $68.00 target price on shares of Energizer in a research note on Wednesday, November 28th. ValuEngine lowered shares of Energizer from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. SunTrust Banks cut their target price on shares of Energizer to $60.00 and set a “buy” rating for the company in a research note on Monday, November 19th. Finally, Zacks Investment Research upgraded shares of Energizer from a “sell” rating to a “hold” rating in a research report on Friday, November 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $62.10.

ENR stock traded up $0.99 on Thursday, hitting $46.06. 38,808 shares of the company’s stock traded hands, compared to its average volume of 999,577. Energizer has a 1-year low of $44.57 and a 1-year high of $65.57. The firm has a market cap of $2.69 billion, a PE ratio of 13.65, a P/E/G ratio of 2.42 and a beta of 0.63. The company has a debt-to-equity ratio of 39.84, a current ratio of 1.56 and a quick ratio of 1.13.

Energizer (NYSE:ENR) last released its earnings results on Thursday, November 15th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. Energizer had a net margin of 5.20% and a return on equity of 549.70%. The business had revenue of $457.20 million during the quarter, compared to analyst estimates of $459.64 million. During the same period in the prior year, the business earned $0.54 earnings per share. The business’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts expect that Energizer will post 3.43 earnings per share for the current year.

In related news, Director Robert V. Vitale bought 4,160 shares of the business’s stock in a transaction on Monday, November 19th. The stock was bought at an average price of $47.89 per share, for a total transaction of $199,222.40. Following the transaction, the director now directly owns 6,460 shares in the company, valued at $309,369.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bill G. Armstrong sold 1,000 shares of the stock in a transaction that occurred on Friday, October 12th. The stock was sold at an average price of $58.81, for a total transaction of $58,810.00. Following the completion of the sale, the director now owns 24,387 shares of the company’s stock, valued at approximately $1,434,199.47. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 16,360 shares of company stock valued at $756,822 and sold 3,000 shares valued at $180,570. 1.79% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in ENR. FMR LLC lifted its position in Energizer by 142.1% in the 2nd quarter. FMR LLC now owns 1,966,141 shares of the company’s stock worth $123,788,000 after buying an additional 1,153,941 shares in the last quarter. Scopus Asset Management L.P. purchased a new stake in Energizer in the 2nd quarter worth approximately $69,256,000. Panagora Asset Management Inc. lifted its position in Energizer by 390.2% in the 3rd quarter. Panagora Asset Management Inc. now owns 521,600 shares of the company’s stock worth $30,592,000 after buying an additional 415,203 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in Energizer in the 2nd quarter worth approximately $25,538,000. Finally, JPMorgan Chase & Co. lifted its position in Energizer by 4.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,160,218 shares of the company’s stock worth $302,647,000 after buying an additional 243,347 shares in the last quarter. Institutional investors own 93.12% of the company’s stock.

Energizer Company Profile

Energizer Holdings, Inc, together with its subsidiaries, manufactures, markets, and distributes household batteries, specialty batteries, and lighting products worldwide. It offers lithium, alkaline, carbon zinc, nickel metal hydride, zinc air, and silver oxide batteries under the Energizer and Eveready brands, as well as primary, rechargeable, specialty, and hearing aid products.

Read More: Debt-To-Equity Ratio

Analyst Recommendations for Energizer (NYSE:ENR)

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