Ennis (NYSE:EBF) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Ennis, Inc. (NYSE:EBF)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $21.15 and traded as high as $21.32. Ennis shares last traded at $21.3090, with a volume of 134,932 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EBF. Weiss Ratings lowered shares of Ennis from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Wall Street Zen raised shares of Ennis from a “hold” rating to a “buy” rating in a research report on Sunday, August 23rd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Ennis currently has an average rating of “Hold”.

Ennis Price Performance

The company has a 50-day moving average of $21.60 and a two-hundred day moving average of $21.15. The company has a market capitalization of $539.12 million, a PE ratio of 12.76 and a beta of 0.27.

Ennis (NYSE:EBF) last posted its quarterly earnings data 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 firm had revenue of $98.61 million for the quarter, compared to analysts’ expectations of $98.20 million. Ennis had a return on equity of 13.89% and a net margin of 10.84%.During the same period in the previous year, the firm earned $0.38 EPS.

Ennis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 10th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.00 annualized dividend and a yield of 4.7%. Ennis’s payout ratio is currently 59.88%.

Institutional Trading of Ennis

Several institutional investors and hedge funds have recently modified their holdings of EBF. BlackRock Inc. purchased a new position in Ennis in the 2nd quarter worth approximately $58,564,000. Almitas Capital LLC purchased a new position in shares of Ennis during the second quarter valued at about $2,953,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Ennis during the second quarter valued at about $1,413,000. Bank of New York Mellon Corp bought a new stake in shares of Ennis in the second quarter worth about $7,336,000. Finally, Royce & Associates LP lifted its position in shares of Ennis by 4.1% in the fourth quarter. Royce & Associates LP now owns 1,300,634 shares of the industrial products company’s stock worth $23,424,000 after buying an additional 51,634 shares in the last quarter. 74.33% of the stock is currently owned by institutional investors.

About Ennis

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.