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

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

Separately, Weiss Ratings cut Ennis from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy”.

Ennis Price Performance

Shares of Ennis stock opened at $22.34 on Friday. The firm has a 50 day simple moving average of $21.40 and a 200 day simple moving average of $20.98. Ennis has a fifty-two week low of $16.30 and a fifty-two week high of $22.56. The firm has a market cap of $565.16 million, a P/E ratio of 13.38 and a beta of 0.27.

Ennis (NYSE:EBF) last released its earnings results on Monday, June 22nd. The industrial products company reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $98.61 million during 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 last year, the firm earned $0.38 EPS.

Ennis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Friday, July 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Friday, July 10th. Ennis’s payout ratio is presently 59.88%.

Institutional Trading of Ennis

A number of hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in Ennis during the second quarter valued at approximately $25,000. MBM Wealth Consultants LLC bought a new stake in Ennis in the first quarter valued at approximately $27,000. Compass Financial Management LLC acquired a new stake in Ennis in the second quarter worth $27,000. EverSource Wealth Advisors LLC boosted its position in shares of Ennis by 1,037.3% during the second 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 in the last quarter. Finally, WealthCollab LLC boosted its position in shares of Ennis by 180.9% during the fourth 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 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 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.