EnerSys (NYSE:ENS) Shares Gap Up – Here’s Why

EnerSys (NYSE:ENS) shares gapped up prior to trading on Wednesday . The stock had previously closed at $91.53, but opened at $94.52. EnerSys shares last traded at $96.84, with a volume of 61,087 shares.

Wall Street Analysts Forecast Growth

ENS has been the topic of several recent analyst reports. Roth Mkm reissued a “buy” rating and set a $120.00 target price on shares of EnerSys in a research note on Monday, September 23rd. StockNews.com upgraded shares of EnerSys from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. Finally, Roth Capital raised shares of EnerSys to a “strong-buy” rating in a research note on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, EnerSys currently has an average rating of “Buy” and a consensus target price of $118.00.

EnerSys Stock Performance

The company has a quick ratio of 1.87, a current ratio of 2.97 and a debt-to-equity ratio of 0.65. The stock’s 50-day moving average price is $97.87 and its 200 day moving average price is $100.38. The company has a market cap of $3.97 billion, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 0.60 and a beta of 1.22.

EnerSys (NYSE:ENS) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.05. EnerSys had a net margin of 8.25% and a return on equity of 20.04%. The company had revenue of $883.70 million during the quarter, compared to analysts’ expectations of $891.78 million. During the same period in the prior year, the company earned $1.84 earnings per share. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, research analysts expect that EnerSys will post 8.86 EPS for the current fiscal year.

EnerSys Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, December 13th. EnerSys’s dividend payout ratio (DPR) is presently 13.60%.

Insider Buying and Selling at EnerSys

In related news, CEO David M. Shaffer sold 20,000 shares of EnerSys stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $100.01, for a total value of $2,000,200.00. Following the completion of the transaction, the chief executive officer now directly owns 206,724 shares of the company’s stock, valued at $20,674,467.24. The trade was a 8.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.61% of the company’s stock.

Institutional Trading of EnerSys

Several hedge funds have recently bought and sold shares of ENS. Global Alpha Capital Management Ltd. raised its position in shares of EnerSys by 32.8% in the third quarter. Global Alpha Capital Management Ltd. now owns 27,361 shares of the industrial products company’s stock valued at $2,792,000 after purchasing an additional 6,764 shares during the period. Foundry Partners LLC bought a new position in EnerSys during the third quarter worth about $4,740,000. Citigroup Inc. boosted its holdings in EnerSys by 99.2% in the 3rd quarter. Citigroup Inc. now owns 48,429 shares of the industrial products company’s stock valued at $4,942,000 after purchasing an additional 24,123 shares during the period. Great Lakes Advisors LLC acquired a new stake in shares of EnerSys in the second quarter valued at approximately $10,765,000. Finally, Janney Montgomery Scott LLC boosted its stake in shares of EnerSys by 60.8% in the third quarter. Janney Montgomery Scott LLC now owns 15,626 shares of the industrial products company’s stock valued at $1,595,000 after buying an additional 5,909 shares during the period. 94.93% of the stock is currently owned by institutional investors and hedge funds.

About EnerSys

EnerSys engages in the provision of stored energy solutions for industrial applications worldwide. It operates in four segments: Energy Systems, Motive Power, Specialty, and New Ventures. The Energy Systems segment offers uninterruptible power systems (UPS) applications for computer and computer-controlled systems, as well as telecommunications systems; switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy storage, and energy pipelines; integrated power solutions and services to broadband, telecom, data center, and renewable and industrial customers; and thermally managed cabinets and enclosures for electronic equipment and batteries.