Energizer (NYSE:ENR) Upgraded by JPMorgan Chase & Co. to “Neutral” Rating

JPMorgan Chase & Co. upgraded shares of Energizer (NYSE:ENR) from an underweight rating to a neutral rating in a research note released on Wednesday, Marketbeat Ratings reports. The firm currently has $39.00 price target on the stock, up from their previous price target of $32.00.

Several other brokerages have also recently weighed in on ENR. Royal Bank of Canada reiterated a “sector perform” rating and set a $38.00 price target on shares of Energizer in a research report on Wednesday, August 7th. StockNews.com lowered shares of Energizer from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Truist Financial raised shares of Energizer from a “hold” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $40.00 in a research note on Tuesday, August 27th. Evercore ISI dropped their price objective on shares of Energizer from $42.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Barclays raised their price target on Energizer from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Energizer presently has an average rating of “Hold” and a consensus price target of $37.63.

Energizer Price Performance

ENR opened at $37.67 on Wednesday. The firm has a 50-day moving average price of $31.99 and a 200-day moving average price of $30.57. Energizer has a twelve month low of $26.92 and a twelve month high of $39.21. The company has a quick ratio of 1.01, a current ratio of 1.99 and a debt-to-equity ratio of 26.04. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 269.09 and a beta of 1.04.

Energizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Wednesday, November 27th. Energizer’s dividend payout ratio is 857.20%.

Insider Activity at Energizer

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ENR. Neo Ivy Capital Management purchased a new position in shares of Energizer during the third quarter valued at approximately $30,000. Clearstead Trust LLC raised its holdings in Energizer by 307.1% in the 2nd quarter. Clearstead Trust LLC now owns 1,087 shares of the company’s stock worth $32,000 after purchasing an additional 820 shares in the last quarter. Quarry LP purchased a new stake in shares of Energizer in the 3rd quarter worth about $39,000. Prospera Private Wealth LLC purchased a new stake in shares of Energizer in the 3rd quarter worth about $42,000. Finally, Avior Wealth Management LLC boosted its stake in shares of Energizer by 22.4% during the 3rd quarter. Avior Wealth Management LLC now owns 2,058 shares of the company’s stock valued at $65,000 after purchasing an additional 376 shares in the last quarter. Hedge funds and other 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.