Morgan Stanley Forecasts Strong Price Appreciation for Energizer (NYSE:ENR) Stock

Energizer (NYSE:ENR) had its target price lifted by Morgan Stanley from $33.00 to $36.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

ENR has been the subject of several other reports. Evercore ISI cut their target price on shares of Energizer from $42.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Barclays lowered shares of Energizer from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $34.00 to $36.00 in a research report on Wednesday. StockNews.com downgraded Energizer from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Truist Financial upgraded Energizer from a “hold” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $40.00 in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. upgraded Energizer from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $32.00 to $39.00 in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $37.63.

Energizer Stock Up 1.1 %

Energizer stock opened at $37.67 on Wednesday. The company has a debt-to-equity ratio of 26.04, a current ratio of 1.99 and a quick ratio of 1.01. Energizer has a fifty-two week low of $26.92 and a fifty-two week high of $39.21. The firm has a fifty day moving average price of $31.99 and a two-hundred day moving average price of $30.57. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 269.09 and a beta of 1.04.

Energizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.19%. Energizer’s payout ratio is presently 857.20%.

Insider Transactions at Energizer

In other news, EVP Robin Vauth sold 1,978 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $35.97, for a total value of $71,148.66. Following the transaction, the executive vice president now directly owns 5,758 shares of the company’s stock, valued at $207,115.26. The trade was a 25.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Energizer

Several institutional investors have recently bought and sold shares of ENR. Neo Ivy Capital Management acquired a new stake in shares of Energizer in the third quarter valued at $30,000. Barclays PLC grew its holdings in Energizer by 100.9% during the 3rd quarter. Barclays PLC now owns 139,890 shares of the company’s stock worth $4,443,000 after acquiring an additional 70,254 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in Energizer by 125.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 27,095 shares of the company’s stock valued at $861,000 after acquiring an additional 15,095 shares in the last quarter. Zacks Investment Management bought a new position in shares of Energizer in the third quarter worth about $3,910,000. Finally, Wellington Management Group LLP lifted its position in shares of Energizer by 1.5% during the third quarter. Wellington Management Group LLP now owns 483,503 shares of the company’s stock worth $15,356,000 after purchasing an additional 7,164 shares in the last quarter. Institutional investors 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.