Ennis (NYSE:EBF) Reaches New 52-Week High on Analyst Upgrade

Ennis, Inc. (NYSE:EBF) hit a new 52-week high on Tuesday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The company traded as high as $22.37 and last traded at $22.3550, with a volume of 61216 shares changing hands. The stock had previously closed at $22.07.

Separately, Weiss Ratings cut Ennis from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. MBM Wealth Consultants LLC bought a new position in Ennis during the first quarter valued at approximately $27,000. EverSource Wealth Advisors LLC grew its position in Ennis by 1,037.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,524 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 1,390 shares during the period. WealthCollab LLC grew its position in Ennis by 180.9% in the 4th quarter. WealthCollab LLC now owns 1,809 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 1,165 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Ennis by 56.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,456 shares of the industrial products company’s stock worth $45,000 after buying an additional 890 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Ennis in the fourth quarter worth $51,000. 74.33% of the stock is owned by hedge funds and other institutional investors.

Ennis Stock Up 1.4%

The company has a market cap of $565.96 million, a P/E ratio of 13.38 and a beta of 0.27. The company has a fifty day moving average of $21.06 and a 200 day moving average of $20.78.

Ennis (NYSE:EBF) last posted its earnings results on Monday, June 22nd. The industrial products company reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. The company had revenue of $98.61 million for the quarter, compared to the consensus estimate of $98.20 million. Ennis had a return on equity of 13.89% and a net margin of 10.84%.During the same quarter in the prior year, the company earned $0.38 earnings per share.

Ennis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 10th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, July 10th. Ennis’s dividend payout ratio is 59.88%.

Ennis Company Profile

Ennis, Inc (NYSE: EBF) is a provider of print and related products and services designed to meet the needs of businesses and organizations across a variety of industries. Headquartered in Dallas, Texas, Ennis offers business forms, checks, manuals, labels, promotional signage and specialty packaging. The company also delivers e-commerce and software solutions that enable customers to manage orders, customize print jobs and streamline supply-chain processes through its integrated online platform.

Ennis’s core product offerings include continuous business forms, laser checks and security-enhanced documents, as well as graphic communications materials such as brochures, catalogs and direct-mail collateral.