Essendant Inc. (NASDAQ:ESND) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Essendant from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 1st. TheStreet lowered shares of Essendant from a “c-” rating to a “d+” rating in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Essendant has an average rating of “Hold” and a consensus target price of $17.33.

Essendant (NASDAQ ESND) opened at 11.60 on Friday. Essendant has a 1-year low of $11.47 and a 1-year high of $22.52. The firm’s market capitalization is $435.34 million. The stock has a 50 day moving average of $13.55 and a 200-day moving average of $16.05.

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 the consensus estimate of $0.37 by $0.09. Essendant had a negative net margin of 2.87% and a positive return on equity of 5.75%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm 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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A number of large investors have recently modified their holdings of ESND. Dimensional Fund Advisors LP raised its stake in shares of Essendant by 11.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,698,887 shares of the company’s stock valued at $40,024,000 after buying an additional 281,356 shares during the last quarter. Virtu KCG Holdings LLC acquired a new stake in shares of Essendant during the second quarter valued at about $310,000. Parametric Portfolio Associates LLC raised its stake in shares of Essendant by 41.5% in the second quarter. Parametric Portfolio Associates LLC now owns 273,750 shares of the company’s stock valued at $4,060,000 after buying an additional 80,294 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Essendant by 6.1% in the second quarter. California Public Employees Retirement System now owns 188,700 shares of the company’s stock valued at $2,798,000 after buying an additional 10,900 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Essendant by 3.3% in the second quarter. Vanguard Group Inc. now owns 3,591,083 shares of the company’s stock valued at $53,256,000 after buying an additional 115,071 shares during the last quarter. Hedge funds and other institutional investors own 91.91% of the company’s stock.

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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