Essendant (NASDAQ:ESND) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

ESND has been the subject of several other research reports. Sidoti lowered shares of Essendant from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 9th. TheStreet upgraded shares of Essendant from a “d+” rating to a “c” rating in a research note on Friday, July 27th. Four equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus target price of $10.00.

ESND stock opened at $15.08 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.03 and a quick ratio of 1.01. Essendant has a 1-year low of $7.20 and a 1-year high of $17.08. The firm has a market cap of $587.14 million, a price-to-earnings ratio of 86.50 and a beta of 1.32.

Essendant (NASDAQ:ESND) last released its earnings results on Thursday, July 26th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.20. Essendant had a negative net margin of 2.70% and a positive return on equity of 1.51%. The firm had revenue of $1.25 billion during the quarter.

Hedge funds have recently added to or reduced their stakes in the business. Harvest Management LLC bought a new stake in Essendant during the second quarter valued at $132,000. Acadian Asset Management LLC bought a new stake in Essendant during the second quarter valued at $2,110,000. Systematic Financial Management LP increased its stake in Essendant by 27.2% during the first quarter. Systematic Financial Management LP now owns 184,653 shares of the company’s stock valued at $1,440,000 after purchasing an additional 39,445 shares during the last quarter. Hartford Investment Management Co. bought a new stake in Essendant during the second quarter valued at $566,000. Finally, Mackay Shields LLC bought a new stake in Essendant during the first quarter valued at $1,512,000. Hedge funds and other institutional investors own 93.41% of the company’s stock.

Essendant Company Profile

Essendant Inc operates as a distributor of workplace items in the United States and internationally. It offers janitorial and sanitation supplies, breakroom items, foodservice consumables, safety and security items, and paper and packaging supplies. The company also provides technology products, such as computer accessories, imaging supplies, and data storage products; and computer hardware, including printers and other peripherals.

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