EnerSys (NYSE:ENS) Shares Gap Up – Time to Buy?

Shares of EnerSys (NYSE:ENS) gapped up before the market opened on Wednesday . The stock had previously closed at $91.53, but opened at $94.52. EnerSys shares last traded at $96.84, with a volume of 61,087 shares changing hands.

Analyst Ratings Changes

Several analysts recently weighed in on ENS shares. Roth Capital upgraded EnerSys to a “strong-buy” rating in a research note on Tuesday, August 27th. StockNews.com upgraded shares of EnerSys from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. Finally, Roth Mkm restated a “buy” rating and issued a $120.00 target price on shares of EnerSys in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $118.00.

EnerSys Trading Down 1.8 %

The firm has a market capitalization of $3.68 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.60 and a beta of 1.22. The company has a current ratio of 2.97, a quick ratio of 1.87 and a debt-to-equity ratio of 0.65. The stock has a 50 day simple moving average of $97.52 and a 200-day simple moving average of $100.28.

EnerSys (NYSE:ENS) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.05. EnerSys had a net margin of 8.25% and a return on equity of 20.04%. The company had revenue of $883.70 million during the quarter, compared to analyst estimates of $891.78 million. During the same period in the previous year, the business posted $1.84 earnings per share. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts forecast that EnerSys will post 8.86 EPS for the current fiscal year.

EnerSys Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.96 dividend on an annualized basis and a yield of 1.04%. EnerSys’s dividend payout ratio is currently 13.60%.

Insider Activity at EnerSys

In other EnerSys news, CEO David M. Shaffer sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $100.01, for a total transaction of $2,000,200.00. Following the sale, the chief executive officer now owns 206,724 shares in the company, valued at approximately $20,674,467.24. This trade represents a 8.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.61% of the stock is owned by company insiders.

Institutional Trading of EnerSys

A number of hedge funds and other institutional investors have recently modified their holdings of ENS. Global Alpha Capital Management Ltd. boosted its holdings in EnerSys by 32.8% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 27,361 shares of the industrial products company’s stock worth $2,792,000 after buying an additional 6,764 shares during the period. Foundry Partners LLC bought a new position in shares of EnerSys in the third quarter worth about $4,740,000. Citigroup Inc. grew its position in shares of EnerSys by 99.2% during the third quarter. Citigroup Inc. now owns 48,429 shares of the industrial products company’s stock worth $4,942,000 after purchasing an additional 24,123 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in EnerSys during the 2nd quarter valued at approximately $10,765,000. Finally, Janney Montgomery Scott LLC lifted its holdings in EnerSys by 60.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 15,626 shares of the industrial products company’s stock worth $1,595,000 after purchasing an additional 5,909 shares in the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

EnerSys Company Profile

EnerSys engages in the provision of stored energy solutions for industrial applications worldwide. It operates in four segments: Energy Systems, Motive Power, Specialty, and New Ventures. The Energy Systems segment offers uninterruptible power systems (UPS) applications for computer and computer-controlled systems, as well as telecommunications systems; switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy storage, and energy pipelines; integrated power solutions and services to broadband, telecom, data center, and renewable and industrial customers; and thermally managed cabinets and enclosures for electronic equipment and batteries.