Jefferies analyst Kevin Grundy maintained a Buy rating on Energizer Holdings Inc (ENR) today and set a price target of $64. The company’s shares opened today at $45.75, close to its 52-week low of $42.74.
Grundy observed:
“We update our model for the close of the SPB battery (1/2) / global auto care (1/28) deals and related financing w/our FY19-21 EPS est. little changed. Pre-announced 1Q de-risks upcoming qtr, though deal integration/execution, continued growth in batteries, European Varta proceeds, and evidence of stability in auto care will be key for the stock. Risk/reward remains favorable w/shares at 9x EV/EBITDA (vs. staples 13.5x). Buy, $64 PT unchanged. Model update to reflect the close of SPB battery / global auto care (GAC) deals: Our FY19-21 EPS est. are little changed to reflect deal timing and clarity on financing terms. Our FY19 EPS est. of $3.35 is relatively in-line with mgmt commentary (i.e. $3.40-$3.50 ex. deals and slight year one dilution) and we f-cast $4.20/$4.80 in FY20/21.”
According to TipRanks.com, Grundy is a 4-star analyst with an average return of 4.9% and a 57.4% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners plc, Interlink Electronics, Inc., and Constellation Brands Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Energizer Holdings Inc with a $63 average price target.
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Energizer Holdings Inc’s market cap is currently $2.72B and has a P/E ratio of 30.06. The company has a Price to Book ratio of 111.31.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ENR in relation to earlier this year.
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Energizer Holdings, Inc. manufacturers and markets batteries and lighting products. The company’s products include household batteries, specialty batteries, and portable lighting. Energizer Holdings is headquartered in St. Louis, MO.
