Zacks Investment Research upgraded shares of Energizer (NYSE:ENR) from a sell rating to a hold rating in a report released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $44.00 target price on the stock.
According to Zacks, “Shares of Energizer have declined and underperformed the industry in the past three months. The stock has been grappling with tough year-over-year comparisons, as demand conditions were high in the year-ago quarter. This has been affecting the company’s battery sales volumes, as seen during fourth-quarter fiscal 2021. Moreover, high input costs have been a drag on gross margin. The company has been witnessing higher input costs in areas like labor and transportation. It expects inflationary pressures to persist in fiscal 2022. Energizer expects the rise in input costs to be partly compensated by pricing actions and cost-reduction efforts. Energizer has been making efforts to drive productivity via improvement initiatives, streamlining international organization and optimizing manufacturing footprint. Strong auto care busines is also an upside.”
Separately, Morgan Stanley cut their target price on shares of Energizer from $51.00 to $46.00 and set an overweight rating for the company in a research report on Monday, November 15th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Energizer currently has an average rating of Buy and a consensus target price of $49.44.
Energizer (NYSE:ENR) last announced its quarterly earnings data on Wednesday, November 10th. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.07. Energizer had a net margin of 5.33% and a return on equity of 74.55%. The firm had revenue of $766.00 million during the quarter, compared to analysts’ expectations of $734.29 million. During the same quarter last year, the business earned $0.59 earnings per share. Equities research analysts expect that Energizer will post 3.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Tuesday, November 30th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Monday, November 29th. Energizer’s payout ratio is currently 57.69%.
Large investors have recently bought and sold shares of the company. First Horizon Advisors Inc. raised its position in shares of Energizer by 1,537.8% in the third quarter. First Horizon Advisors Inc. now owns 737 shares of the company’s stock valued at $37,000 after buying an additional 692 shares during the last quarter. Bartlett & Co. LLC acquired a new position in shares of Energizer in the third quarter valued at approximately $40,000. Canada Pension Plan Investment Board acquired a new position in shares of Energizer in the second quarter valued at approximately $48,000. MUFG Americas Holdings Corp acquired a new position in shares of Energizer in the third quarter valued at approximately $55,000. Finally, Evermay Wealth Management LLC acquired a new position in shares of Energizer in the second quarter valued at approximately $102,000. 88.07% of the stock is owned by institutional investors and hedge funds.
Energizer Company Profile
Energizer Holdings, Inc is a global producer of household products, such as batteries, auto care, and portable lights. It engages in manufacturing, marketing, and distribution of household and specialty batteries; automotive appearance, performance, refrigerant, and freshener products; and portable lights.
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