EnerSys (NYSE:ENS) Shares Gap Up - Here's Why

EnerSys (NYSE:ENS - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $91.53, but opened at $94.52. EnerSys shares last traded at $96.84, with a volume of 61,087 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ENS shares. Roth Capital upgraded shares of EnerSys to a "strong-buy" rating in a research report on Tuesday, August 27th. StockNews.com raised shares of EnerSys from a "buy" rating to a "strong-buy" rating in a report on Friday, December 6th. Finally, Roth Mkm restated a "buy" rating and issued a $120.00 price objective on shares of EnerSys in a research report on Monday, September 23rd. Two analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $118.00.

EnerSys Price Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.87 and a current ratio of 2.97. The stock's fifty day moving average price is $97.87 and its 200-day moving average price is $100.38. The firm has a market cap of $3.75 billion, a PE ratio of 13.34, a P/E/G ratio of 0.60 and a beta of 1.22.

EnerSys (NYSE:ENS - Get Free Report) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.07 by $0.05. The company had revenue of $883.70 million during the quarter, compared to analysts' expectations of $891.78 million. EnerSys had a net margin of 8.25% and a return on equity of 20.04%. The firm's quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the company posted $1.84 earnings per share. As a group, equities analysts forecast that EnerSys will post 8.86 EPS for the current fiscal year.

EnerSys Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, December 13th. This represents a $0.96 dividend on an annualized basis and a yield of 1.02%. EnerSys's payout ratio is 13.60%.

Insider Buying and Selling at EnerSys

In other news, CEO David M. Shaffer sold 20,000 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $100.01, for a total value of $2,000,200.00. Following the completion of the transaction, the chief executive officer now directly owns 206,724 shares of the company's stock, valued at $20,674,467.24. The trade was a 8.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.61% of the stock is owned by corporate insiders.

Institutional Trading of EnerSys

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. boosted its stake in shares of EnerSys by 36.2% during the 2nd quarter. UMB Bank n.a. now owns 354 shares of the industrial products company's stock worth $37,000 after purchasing an additional 94 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in EnerSys during the second quarter worth approximately $41,000. Millburn Ridgefield Corp acquired a new stake in EnerSys during the third quarter worth approximately $88,000. Point72 Asset Management L.P. purchased a new stake in EnerSys in the 3rd quarter worth approximately $125,000. Finally, Innealta Capital LLC acquired a new position in EnerSys in the 2nd quarter valued at $131,000. Hedge funds and other institutional investors own 94.93% of the company's stock.

About EnerSys

EnerSys engages in the provision of stored energy solutions for industrial applications worldwide. It operates in four segments: Energy Systems, Motive Power, Specialty, and New Ventures. The Energy Systems segment offers uninterruptible power systems (UPS) applications for computer and computer-controlled systems, as well as telecommunications systems; switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy storage, and energy pipelines; integrated power solutions and services to broadband, telecom, data center, and renewable and industrial customers; and thermally managed cabinets and enclosures for electronic equipment and batteries.