EnerSys (NYSE:ENS) Trading Down 6.6% – Here’s Why

EnerSys (NYSE:ENS)’s share price dropped 6.6% on Thursday . The stock traded as low as $93.86 and last traded at $95.15. Approximately 234,024 shares changed hands during trading, a decline of 4% from the average daily volume of 243,038 shares. The stock had previously closed at $101.90.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. StockNews.com downgraded EnerSys from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 15th. Roth Capital raised EnerSys to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Roth Mkm reiterated a “buy” rating and set a $120.00 price objective on shares of EnerSys in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, EnerSys presently has an average rating of “Moderate Buy” and an average price target of $118.00.

EnerSys Price Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.66 and a current ratio of 2.70. The firm has a fifty day simple moving average of $99.95 and a 200 day simple moving average of $100.66. The company has a market capitalization of $3.85 billion, a PE ratio of 14.48, a P/E/G ratio of 0.61 and a beta of 1.24.

EnerSys (NYSE:ENS) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.07 by $0.05. The firm had revenue of $883.70 million for the quarter, compared to analyst estimates of $891.78 million. EnerSys had a return on equity of 19.98% and a net margin of 7.73%. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 earnings per share. Equities analysts anticipate that EnerSys will post 8.93 EPS for the current year.

Insider Buying and Selling

In related news, CEO David M. Shaffer sold 2,400 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $100.00, for a total transaction of $240,000.00. Following the completion of the sale, the chief executive officer now directly owns 244,140 shares in the company, valued at $24,414,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO David M. Shaffer sold 2,400 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $100.00, for a total transaction of $240,000.00. Following the completion of the sale, the chief executive officer now owns 244,140 shares of the company’s stock, valued at $24,414,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chad C. Uplinger sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $100.87, for a total transaction of $50,435.00. Following the completion of the sale, the insider now owns 17,175 shares of the company’s stock, valued at approximately $1,732,442.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,700 shares of company stock valued at $2,271,843 over the last 90 days. Corporate insiders own 1.61% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in shares of EnerSys by 246.8% in the 2nd quarter. American Century Companies Inc. now owns 264,247 shares of the industrial products company’s stock valued at $27,355,000 after acquiring an additional 188,053 shares during the period. Shellback Capital LP acquired a new stake in EnerSys during the 2nd quarter valued at approximately $14,012,000. AQR Capital Management LLC boosted its holdings in shares of EnerSys by 17.2% in the 2nd quarter. AQR Capital Management LLC now owns 908,253 shares of the industrial products company’s stock valued at $94,022,000 after acquiring an additional 133,211 shares during the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of EnerSys in the second quarter worth $10,765,000. Finally, Deprince Race & Zollo Inc. increased its stake in shares of EnerSys by 16.7% in the second quarter. Deprince Race & Zollo Inc. now owns 646,438 shares of the industrial products company’s stock worth $66,919,000 after acquiring an additional 92,398 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.

EnerSys Company Profile

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.