Energizer (NYSE:ENR) Downgraded to “Sector Perform” at Royal Bank of Canada

Energizer (NYSE:ENR) was downgraded by Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Wednesday, Briefing.com reports. They currently have a $38.00 target price on the stock, down from their prior target price of $40.00. Royal Bank of Canada’s price target points to a potential upside of 5.15% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Morgan Stanley downgraded Energizer from an “equal weight” rating to an “underweight” rating and set a $33.00 price objective on the stock. in a report on Wednesday. JPMorgan Chase & Co. downgraded Energizer from a “neutral” rating to an “underweight” rating and set a $33.00 price objective for the company. in a report on Wednesday. Truist Financial cut shares of Energizer from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $35.00 in a report on Monday, August 28th. Barclays lowered their price target on shares of Energizer from $40.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, October 12th. Finally, StockNews.com lowered shares of Energizer from a “buy” rating to a “hold” rating in a report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.14.

Energizer Stock Performance

Shares of Energizer stock opened at $36.14 on Wednesday. Energizer has a 52 week low of $27.68 and a 52 week high of $37.89. The company has a market capitalization of $2.58 billion, a PE ratio of -10.57 and a beta of 1.04. The stock’s fifty day moving average is $32.47 and its two-hundred day moving average is $33.55. The company has a quick ratio of 1.11, a current ratio of 2.16 and a debt-to-equity ratio of 20.23.

Energizer (NYSE:ENR) last posted its quarterly earnings results on Tuesday, November 14th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.13 by $0.07. The company had revenue of $811.10 million for the quarter, compared to the consensus estimate of $794.64 million. Energizer had a negative net margin of 8.24% and a positive return on equity of 135.74%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 EPS. As a group, analysts expect that Energizer will post 3.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENR. Jones Financial Companies Lllp acquired a new stake in Energizer in the third quarter worth about $32,000. Ancora Advisors LLC purchased a new position in shares of Energizer in the 1st quarter valued at approximately $37,000. Signaturefd LLC grew its position in Energizer by 58.1% during the 1st quarter. Signaturefd LLC now owns 1,097 shares of the company’s stock worth $38,000 after purchasing an additional 403 shares during the last quarter. Captrust Financial Advisors increased its stake in Energizer by 107.4% during the 1st quarter. Captrust Financial Advisors now owns 2,014 shares of the company’s stock valued at $62,000 after purchasing an additional 1,043 shares in the last quarter. Finally, Belpointe Asset Management LLC raised its holdings in shares of Energizer by 42.4% in the first quarter. Belpointe Asset Management LLC now owns 1,836 shares of the company’s stock worth $64,000 after buying an additional 547 shares during the last quarter. 83.74% of the stock is currently owned by hedge funds and other institutional investors.

About Energizer

Energizer Holdings, Inc, together with its subsidiaries, manufactures, markets, and distributes household batteries, specialty batteries, and lighting products worldwide. It offers lithium, alkaline, carbon zinc, nickel metal hydride, zinc air, and silver oxide batteries under the Energizer, Eveready, and Rayovac brands; primary, rechargeable, specialty, and hearing aid batteries; and handheld, headlights, lanterns, and area lights, as well as flashlights under the Hard Case, Dolphin, and WeatherReady brands.