Energizer (NYSE:ENR) Shares Gap Down – Here’s Why

Energizer Holdings, Inc. (NYSE:ENR) shares gapped down before the market opened on Tuesday . The stock had previously closed at $33.93, but opened at $32.29. Energizer shares last traded at $31.79, with a volume of 170,652 shares.

Wall Street Analysts Forecast Growth

ENR has been the subject of several analyst reports. Morgan Stanley boosted their target price on Energizer from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. UBS Group lowered their target price on Energizer from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Truist Financial boosted their target price on Energizer from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. StockNews.com raised Energizer from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Barclays cut Energizer from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $34.00 to $36.00 in a research report on Wednesday, November 20th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $38.38.

Energizer Trading Down 0.3 %

The firm has a market capitalization of $2.36 billion, a PE ratio of 63.20 and a beta of 1.06. The business has a 50 day moving average price of $35.60 and a 200-day moving average price of $33.06. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 23.51.

Energizer (NYSE:ENR) last issued its earnings results on Tuesday, February 4th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. The business had revenue of $731.70 million during the quarter, compared to the consensus estimate of $726.23 million. Energizer had a return on equity of 155.40% and a net margin of 1.32%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 EPS. Analysts expect that Energizer Holdings, Inc. will post 3.58 earnings per share for the current year.

Energizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Thursday, February 20th. Energizer’s dividend payout ratio is currently 230.77%.

Insider Buying and Selling

In related news, EVP Robin Vauth sold 4,070 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $38.16, for a total transaction of $155,311.20. Following the sale, the executive vice president now owns 9,827 shares in the company, valued at approximately $374,998.32. This trade represents a 29.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sara B. Hampton sold 2,812 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $38.49, for a total transaction of $108,233.88. Following the sale, the vice president now owns 4,635 shares in the company, valued at approximately $178,401.15. This trade represents a 37.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,860 shares of company stock worth $334,694 in the last quarter. Company insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Energizer

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in shares of Energizer by 86.4% in the 4th quarter. GAMMA Investing LLC now owns 768 shares of the company’s stock valued at $27,000 after acquiring an additional 356 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Energizer in the 3rd quarter valued at $30,000. Quarry LP purchased a new position in shares of Energizer in the 3rd quarter valued at $39,000. Prospera Private Wealth LLC purchased a new position in shares of Energizer in the 3rd quarter valued at $42,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Energizer by 94.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,554 shares of the company’s stock valued at $54,000 after acquiring an additional 753 shares during the period. Institutional investors and hedge funds own 93.74% of the company’s stock.

Energizer Company Profile

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.