Essendant Inc. (NASDAQ:ESND) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other brokerages have also issued reports on ESND. Zacks Investment Research lowered Essendant from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. BidaskClub lowered Essendant from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, TheStreet lowered Essendant from a “c-” rating to a “d+” rating in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $17.33.

Essendant (ESND) traded up 1.01% on Friday, reaching $11.98. 184,785 shares of the company’s stock were exchanged. Essendant has a 1-year low of $11.26 and a 1-year high of $22.52. The company’s market capitalization is $449.60 million. The company has a 50 day moving average price of $12.42 and a 200-day moving average price of $15.04.

Essendant (NASDAQ:ESND) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by $0.09. Essendant had a positive return on equity of 5.75% and a negative net margin of 2.87%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the business posted $0.55 earnings per share. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. On average, equities research analysts anticipate that Essendant will post $1.09 earnings per share for the current year.

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Several institutional investors have recently added to or reduced their stakes in ESND. Ameriprise Financial Inc. raised its position in Essendant by 10.4% in the first quarter. Ameriprise Financial Inc. now owns 230,366 shares of the company’s stock valued at $3,490,000 after buying an additional 21,720 shares in the last quarter. Texas Permanent School Fund raised its position in Essendant by 0.6% in the first quarter. Texas Permanent School Fund now owns 27,130 shares of the company’s stock valued at $411,000 after buying an additional 167 shares in the last quarter. Karp Capital Management Corp purchased a new position in Essendant during the first quarter valued at $551,000. Acrospire Investment Management LLC raised its position in Essendant by 1.5% in the first quarter. Acrospire Investment Management LLC now owns 6,981 shares of the company’s stock valued at $106,000 after buying an additional 100 shares in the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new position in Essendant during the first quarter valued at $477,000. 94.16% of the stock is currently owned by institutional investors and hedge funds.

Essendant Company Profile

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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