Essendant (ESND) Upgraded to “Buy” at BidaskClub

Essendant (NASDAQ:ESND) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Shares of NASDAQ ESND opened at $9.57 on Thursday. The company has a market capitalization of $349.49, a P/E ratio of 13.85 and a beta of 1.08. Essendant has a 1 year low of $7.25 and a 1 year high of $18.30. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.17 and a quick ratio of 0.99.

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Essendant (NASDAQ:ESND) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.17. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Essendant had a negative net margin of 5.30% and a positive return on equity of 4.53%. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.02) EPS.

A number of large investors have recently added to or reduced their stakes in the business. Pzena Investment Management LLC increased its position in Essendant by 17.0% during the 4th quarter. Pzena Investment Management LLC now owns 5,061,547 shares of the company’s stock valued at $46,921,000 after purchasing an additional 736,509 shares during the period. BlackRock Inc. increased its position in Essendant by 1.7% during the 4th quarter. BlackRock Inc. now owns 4,853,849 shares of the company’s stock valued at $44,995,000 after purchasing an additional 79,875 shares during the period. Schwab Charles Investment Management Inc. increased its position in Essendant by 23.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 896,297 shares of the company’s stock valued at $8,309,000 after purchasing an additional 169,268 shares during the period. Bank of New York Mellon Corp increased its position in Essendant by 25.5% during the 4th quarter. Bank of New York Mellon Corp now owns 854,887 shares of the company’s stock valued at $7,925,000 after purchasing an additional 173,713 shares during the period. Finally, Deutsche Bank AG increased its position in Essendant by 58.6% during the 4th quarter. Deutsche Bank AG now owns 843,661 shares of the company’s stock valued at $7,818,000 after purchasing an additional 311,836 shares during the period. 97.16% of the stock is owned by institutional investors and hedge funds.

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About Essendant

Essendant Inc operates as a distributor of workplace items in the United States and internationally. It offers janitorial and sanitation supplies, breakroom items, foodservice consumables, safety and security items, and paper and packaging supplies. The company also provides technology products, such as computer accessories, imaging supplies, and data storage products; and computer hardware, including printers and other peripherals.

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