Sidoti Downgrades Essendant Inc to Hold

Essendant Inc (NASDAQ: ESND) received a Hold rating from Sidoti analyst Christopher McGinnis today. The company’s shares opened today at $9.83.

McGinnis has an average return of 10.0% when recommending Essendant Inc.

According to TipRanks.com, McGinnis is ranked #2669 out of 4787 analysts.

Essendant Inc has an analyst consensus of Moderate Buy, with a price target consensus of $10.

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Based on Essendant Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $51.44 million. In comparison, last year the company had a GAAP net loss of $189 million.

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Essendant, Inc. engages in the distribution of workplace items. It offers the following product categories: janitorial, foodservice, and breakroom supplies; technology products; traditional office products; industrial supplies; cut sheet paper products; automotive products; and office furniture.