Ennis (NYSE:EBF) Upgraded by Zacks Investment Research to Strong-Buy

Zacks Investment Research upgraded shares of Ennis (NYSE:EBF) from a hold rating to a strong-buy rating in a research note issued to investors on Friday, Zacks.com reports. They currently have $23.00 target price on the industrial products company’s stock.

According to Zacks, “Ennis, Inc. is one of the largest private-label printed business product suppliers in the United States. Ennis offers an extensive product line from simple to complex forms, laser cut-sheets, negotiable documents, internal bank forms, tags, labels, presentation folders, commercial printing, advertising specialties, screen printed products, and point-of-purchase display advertising that can be custom designed to customer needs. “

EBF stock traded up $0.44 during trading on Friday, hitting $20.11. The stock had a trading volume of 87,100 shares, compared to its average volume of 103,720. The company’s 50 day moving average price is $20.18 and its two-hundred day moving average price is $20.21. Ennis has a 1-year low of $17.35 and a 1-year high of $22.05. The stock has a market cap of $512.61 million, a price-to-earnings ratio of 13.44 and a beta of 0.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.42 and a current ratio of 4.38.

Ennis (NYSE:EBF) last announced its earnings results on Monday, June 24th. The industrial products company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.03. Ennis had a net margin of 9.10% and a return on equity of 13.09%. The firm had revenue of $108.03 million during the quarter. As a group, sell-side analysts forecast that Ennis will post 1.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Friday, July 12th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Thursday, July 11th. Ennis’s payout ratio is 62.07%.

In related news, EVP Michael D. Magill sold 29,749 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $20.01, for a total value of $595,277.49. Following the completion of the transaction, the executive vice president now owns 119,335 shares of the company’s stock, valued at approximately $2,387,893.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Quantamental Technologies LLC acquired a new position in Ennis in the 1st quarter valued at about $30,000. Meeder Asset Management Inc. increased its stake in shares of Ennis by 119.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,821 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 993 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Ennis by 11,877.8% during the 2nd quarter. Bank of Montreal Can now owns 2,156 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 2,138 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Ennis during the 1st quarter valued at about $73,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Ennis by 198.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,336 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 3,551 shares during the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Ennis Company Profile

Ennis, Inc designs, manufactures, and sells business forms and other business products in the United States. The company offers snap sets, continuous forms, laser cut sheets, tags, labels, envelopes, integrated products, jumbo rolls, and pressure sensitive products under the Ennis, Royal Business Forms, Block Graphics, Specialized Printed Forms, 360 Custom Labels, ColorWorx, Enfusion, Uncompromised Check Solutions, VersaSeal, Ad Concepts, FormSource Limited, Star Award Ribbon Company, Witt Printing, B&D Litho, Genforms, PrintGraphics, Calibrated Forms, PrintXcel, Printegra, Curtis Business Forms, Falcon Business Forms, Forms Manufacturers, Mutual Graphics, TRI-C Business Forms, Major Business Systems, Independent Printing, Hoosier Data Forms, and Hayes Graphics brand names.

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