Ennis (NYSE:EBF) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Ennis (NYSE:EBF) from a buy rating to a hold rating in a research note issued to investors on Sunday.

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Ennis in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Ennis presently has an average rating of “Buy”.

Ennis Stock Up 0.8%

Ennis stock opened at $21.91 on Friday. The company has a fifty day simple moving average of $20.93 and a 200-day simple moving average of $20.68. The firm has a market capitalization of $554.22 million, a price-to-earnings ratio of 13.12 and a beta of 0.27. Ennis has a 52-week low of $16.30 and a 52-week high of $22.36.

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

Ennis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $1.00 annualized dividend and a dividend yield of 4.6%. Ennis’s payout ratio is presently 59.88%.

Institutional Investors Weigh In On Ennis

A number of hedge funds have recently modified their holdings of the company. Wedge Capital Management L L P NC raised its stake in Ennis by 20.0% during the second quarter. Wedge Capital Management L L P NC now owns 113,567 shares of the industrial products company’s stock worth $2,413,000 after purchasing an additional 18,915 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in shares of Ennis by 46.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 72,120 shares of the industrial products company’s stock valued at $1,533,000 after buying an additional 22,947 shares during the period. CoreCap Advisors LLC grew its stake in shares of Ennis by 13.0% in the 2nd quarter. CoreCap Advisors LLC now owns 4,293 shares of the industrial products company’s stock valued at $91,000 after buying an additional 494 shares during the period. Parallel Advisors LLC increased its holdings in shares of Ennis by 18.3% during the 1st quarter. Parallel Advisors LLC now owns 3,641 shares of the industrial products company’s stock worth $78,000 after buying an additional 562 shares during the last quarter. Finally, Royal Bank of Canada increased 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 worth $3,976,000 after buying an additional 15,283 shares during the last quarter. Hedge funds and other institutional investors own 74.33% of the company’s stock.

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.