Zacks Investment Research cut shares of Enersys (NYSE:ENS) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

According to Zacks, “EnerSys’ shares have yielded a negative return over the past six months, comparing unfavorably to the industry’s average positive return. Volatility in the cost of commodities (particularly lead) has weighed upon the company’s profitability in recent times. To combat the lead price rise, EnerSys has already initiated price increases but its taking much longer than expected for the results to show. In addition, currency fluctuations and stiff competition in the industry are also eroding the company’s profits. EnerSys is in the midst of a transformation, wherein it has been undertaking multiple long-term investments to boost growth. However, these efforts are impacting the company’s gross profit percentage adversely in the near-term. Despite these negatives, EnerSys’ dominant position in the lead-acid battery market, diligent cost reduction efforts and financial health add to its strength.”

Other analysts have also issued research reports about the stock. Sidoti upgraded shares of Enersys from a neutral rating to a buy rating and set a $83.00 target price on the stock in a research report on Thursday, August 17th. Oppenheimer Holdings, Inc. restated a buy rating and issued a $82.00 target price (down previously from $92.00) on shares of Enersys in a research report on Wednesday, August 9th. ValuEngine lowered shares of Enersys from a buy rating to a hold rating in a research report on Saturday, August 26th. Finally, BidaskClub upgraded shares of Enersys from a strong sell rating to a sell rating in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $80.00.

Shares of Enersys (NYSE:ENS) traded down $1.56 during trading on Thursday, reaching $68.75. 248,777 shares of the company’s stock were exchanged, compared to its average volume of 290,635. Enersys has a 1 year low of $61.33 and a 1 year high of $84.74. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.23 and a quick ratio of 2.40. The firm has a market capitalization of $2,983.82, a price-to-earnings ratio of 14.53, a P/E/G ratio of 2.45 and a beta of 1.70.

Enersys (NYSE:ENS) last issued its earnings results on Wednesday, August 9th. The industrial products company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). Enersys had a net margin of 6.86% and a return on equity of 18.90%. The company had revenue of $622.60 million during the quarter, compared to analyst estimates of $615.77 million. During the same quarter in the prior year, the business earned $1.14 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. research analysts expect that Enersys will post 4.68 earnings per share for the current year.

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Enersys declared that its Board of Directors has approved a share repurchase program on Wednesday, August 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Several large investors have recently modified their holdings of the company. Global X MANAGEMENT CO LLC lifted its holdings in shares of Enersys by 139.6% during the third quarter. Global X MANAGEMENT CO LLC now owns 306,782 shares of the industrial products company’s stock worth $21,220,000 after purchasing an additional 178,738 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Enersys by 0.3% during the third quarter. Principal Financial Group Inc. now owns 389,283 shares of the industrial products company’s stock worth $26,927,000 after purchasing an additional 1,008 shares during the period. Boston Partners lifted its holdings in shares of Enersys by 1.6% during the third quarter. Boston Partners now owns 2,718,205 shares of the industrial products company’s stock worth $188,019,000 after purchasing an additional 42,106 shares during the period. Mondrian Investment Partners LTD lifted its holdings in shares of Enersys by 21.2% during the third quarter. Mondrian Investment Partners LTD now owns 43,383 shares of the industrial products company’s stock worth $3,001,000 after purchasing an additional 7,580 shares during the period. Finally, State of Wisconsin Investment Board lifted its holdings in shares of Enersys by 7.7% during the third quarter. State of Wisconsin Investment Board now owns 110,000 shares of the industrial products company’s stock worth $7,609,000 after purchasing an additional 7,856 shares during the period. Institutional investors own 93.35% of the company’s stock.

Enersys Company Profile

EnerSys is a manufacturer, marketer and distributor of industrial batteries. The Company manufactures, markets and distributes related products, such as chargers, power equipment, outdoor cabinet enclosures and battery accessories, and provides related after-market and customer-support services for industrial batteries.

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