BidaskClub upgraded shares of Essendant (NASDAQ:ESND) from a strong sell rating to a sell rating in a research report sent to investors on Wednesday.

Other equities research analysts have also recently issued reports about the stock. ValuEngine cut shares of Essendant from a buy rating to a hold rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of Essendant from a strong sell rating to a hold rating in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $16.50.

Shares of Essendant (NASDAQ ESND) traded up $0.19 during midday trading on Wednesday, reaching $9.20. 312,900 shares of the company were exchanged, compared to its average volume of 291,516. Essendant has a fifty-two week low of $8.31 and a fifty-two week high of $22.52. The company has a market capitalization of $338.88, a P/E ratio of 16.68 and a beta of 1.21. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.04 and a quick ratio of 1.02.

Essendant (NASDAQ:ESND) last announced its earnings results on Wednesday, October 25th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.30). Essendant had a positive return on equity of 3.20% and a negative net margin of 5.26%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the business earned $0.57 EPS. Essendant’s quarterly revenue was down 7.0% on a year-over-year basis.

Several hedge funds and other institutional investors have recently modified their holdings of ESND. Smith Asset Management Group LP acquired a new position in shares of Essendant during the third quarter valued at about $154,000. Trexquant Investment LP acquired a new position in shares of Essendant during the third quarter valued at about $170,000. Cubist Systematic Strategies LLC acquired a new position in shares of Essendant during the second quarter valued at about $179,000. BNP Paribas Arbitrage SA grew its holdings in shares of Essendant by 71.2% during the second quarter. BNP Paribas Arbitrage SA now owns 14,523 shares of the company’s stock valued at $215,000 after buying an additional 6,038 shares during the last quarter. Finally, KBC Group NV acquired a new position in shares of Essendant during the third quarter valued at about $220,000. Hedge funds and other institutional investors own 96.43% of the company’s stock.

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About Essendant

Essendant Inc (Essendant) is a wholesale distributor of workplace items. The Company’s product portfolio includes Janitorial, Foodservice and Breakroom Supplies (JanSan), Technology Products, Traditional Office Products, Industrial Supplies, Cut Sheet Paper Products, Automotive Products and Office Furniture.

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