Ennis (NYSE:EBF) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Ennis (NYSE:EBF) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings upgraded Ennis from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, September 24th. One research analyst has rated the stock with a Hold rating. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Ennis Trading Down 2.7%

Shares of Ennis stock opened at $22.14 on Friday. The company has a market cap of $560.51 million, a PE ratio of 14.47 and a beta of 0.26. The company has a 50 day moving average of $21.88 and a 200-day moving average of $21.30. Ennis has a 1-year low of $16.30 and a 1-year high of $22.94.

Ennis (NYSE:EBF) last announced its quarterly earnings data on Monday, September 21st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Ennis had a net margin of 9.81% and a return on equity of 12.58%. The firm had revenue of $102.01 million during the quarter, compared to the consensus estimate of $99.85 million.

Ennis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 9th will be paid a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, October 9th. This is an increase from Ennis’s previous quarterly dividend of $0.25. Ennis’s dividend payout ratio is 65.36%.

Hedge Funds Weigh In On Ennis

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Ennis in the 2nd quarter valued at approximately $58,564,000. Bank of New York Mellon Corp acquired a new position in shares of Ennis during the second quarter worth $7,336,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Ennis by 3.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 235,916 shares of the industrial products company’s stock valued at $5,053,000 after acquiring an additional 7,413 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Ennis in the 2nd quarter valued at $4,833,000. Finally, Royal Bank of Canada boosted its holdings in shares of Ennis by 9.0% during the 1st quarter. Royal Bank of Canada now owns 185,639 shares of the industrial products company’s stock valued at $3,976,000 after acquiring an additional 15,283 shares in the last quarter. 74.33% of the stock is currently owned by institutional investors and hedge funds.

About Ennis

Ennis, Inc (NYSE: EBF) is a manufacturer and supplier of printed business products and apparel. The company produces forms, envelopes, labels, tags, checks, presentation folders, snap-apart forms and other specialty printed materials for commercial and business use.

Ennis also offers apparel and promotional products, including screen-printed and embroidered garments, as well as related products sold through distributors and resellers. Its product portfolio serves businesses, organizations and other end users that require customized print, apparel and branded merchandise.

Founded in 1909 and headquartered in Midlothian, Texas, Ennis operates primarily through a network of manufacturing and distribution facilities in the United States.