Wall Street Zen Downgrades Ennis (NYSE:EBF) to Hold

Ennis (NYSE:EBF) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of Ennis from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy”.

Ennis Stock Performance

EBF opened at $22.21 on Friday. The company has a fifty day moving average price of $21.70 and a two-hundred day moving average price of $21.19. The firm has a market capitalization of $561.96 million, a PE ratio of 14.52 and a beta of 0.27. Ennis has a 52 week low of $16.30 and a 52 week high of $22.94.

Ennis (NYSE:EBF) last posted its quarterly earnings results on Monday, September 21st. The industrial products company reported $0.37 earnings per share 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 12.64%. The company had revenue of $102.01 million during the quarter, compared to analyst estimates of $99.85 million.

Hedge Funds Weigh In On Ennis

Several institutional investors and hedge funds have recently modified their holdings of EBF. BlackRock Inc. bought a new stake in shares of Ennis during the second quarter worth $58,564,000. Almitas Capital LLC bought a new stake in Ennis in the 2nd quarter valued at $2,953,000. Bank of New York Mellon Corp bought a new stake in Ennis in the 2nd quarter valued at $7,336,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Ennis in the 2nd quarter worth $1,413,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in 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 worth $1,533,000 after purchasing an additional 22,947 shares during the period. 74.33% of the stock is currently owned by institutional investors and hedge funds.

Ennis Company Profile

Ennis, Inc (NYSE: EBF) is a manufacturer and supplier of printed business products headquartered in Midlothian, Texas. The company primarily serves independent distributors, print resellers and other business customers rather than selling directly to consumers.

Its product portfolio includes business forms, envelopes, labels, tags, checks, presentation folders, promotional products, apparel and other customized printed materials. Ennis also provides products used in commercial printing, packaging and workplace communications, with offerings manufactured through a network of production facilities and sold under various company brands.

Founded in 1909, Ennis has expanded over its history through organic growth and acquisitions in the printing and related product industries.