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 closed yesterday at $47.45.
Grundy noted:
“ENR preannounced 1Q19 results and filed for financing for its auto care acquisition. Key takeaways: (i) +1.7% org sales (vs. Street/JEF +2.4%/+1.6%); (ii) significant profit upside ($160M adj. EBITDA at midpoint vs. Street $144M); and (iii) common equity raise for auto care deal will be lower than expected. Removing variables is key to restore bull case for the stock and we continue to see an attractive risk-reward for ENR’s shares.”
According to TipRanks.com, Grundy is a 4-star analyst with an average return of 4.6% and a 58.8% 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.
Energizer Holdings Inc has an analyst consensus of Strong Buy, with a price target consensus of $63.
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Based on Energizer Holdings Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $1.5 million. In comparison, last year the company had a net profit of $60.4 million.
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.
