Ennis (NYSE:EBF) Upgraded to “Strong-Buy” at StockNews.com

Ennis (NYSE:EBF) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

Ennis Stock Up 0.2 %

Shares of EBF stock opened at $19.70 on Thursday. Ennis has a 12-month low of $18.88 and a 12-month high of $23.17. The company has a market capitalization of $509.84 million, a P/E ratio of 12.01 and a beta of 0.44. The firm has a 50-day moving average price of $19.96 and a 200 day moving average price of $20.80.

Ennis (NYSE:EBF) last announced its quarterly earnings results on Monday, April 22nd. The industrial products company reported $0.39 earnings per share (EPS) for the quarter. Ennis had a net margin of 10.14% and a return on equity of 12.43%. The firm had revenue of $97.43 million during the quarter.

Hedge Funds Weigh In On Ennis

A number of institutional investors have recently modified their holdings of EBF. Assenagon Asset Management S.A. bought a new position in shares of Ennis in the first quarter worth about $4,414,000. Charles Schwab Investment Management Inc. raised its stake in shares of Ennis by 10.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 760,567 shares of the industrial products company’s stock worth $16,139,000 after acquiring an additional 70,755 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Ennis by 74.5% in the third quarter. GSA Capital Partners LLP now owns 74,268 shares of the industrial products company’s stock worth $1,576,000 after acquiring an additional 31,702 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ennis by 4.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 663,790 shares of the industrial products company’s stock worth $14,086,000 after acquiring an additional 28,263 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Ennis by 75.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 57,287 shares of the industrial products company’s stock worth $1,216,000 after acquiring an additional 24,602 shares during the last quarter. 74.33% of the stock is owned by institutional investors.

About Ennis

Ennis, Inc 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, 360º 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, Forms Manufacturers, Mutual Graphics, TRI-C Business Forms, Major Business Systems, Independent Printing, Hoosier Data Forms, Hayes Graphics, Wright Business Graphics, Wright 360, Integrated Print & Graphics, the Flesh Company, Impressions Direct, and AmeriPrint brands.