Ennis (NYSE:EBF) Upgraded by StockNews.com to Strong-Buy Rating

Ennis (NYSE:EBF) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday.

Ennis Stock Performance

NYSE:EBF traded up $0.03 during mid-day trading on Wednesday, hitting $20.75. 112,047 shares of the stock were exchanged, compared to its average volume of 124,998. The firm’s 50-day simple moving average is $20.97 and its 200 day simple moving average is $22.01. The stock has a market capitalization of $539.60 million, a price-to-earnings ratio of 13.05 and a beta of 0.41. Ennis has a fifty-two week low of $18.88 and a fifty-two week high of $25.75.

Ennis (NYSE:EBF) last posted its earnings results on Monday, December 23rd. The industrial products company reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. Ennis had a return on equity of 12.16% and a net margin of 10.35%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in Ennis by 5.4% in the third quarter. Geode Capital Management LLC now owns 706,924 shares of the industrial products company’s stock valued at $17,195,000 after acquiring an additional 36,187 shares during the last quarter. JPMorgan Chase & Co. raised its position in Ennis by 282.8% in the third quarter. JPMorgan Chase & Co. now owns 250,932 shares of the industrial products company’s stock valued at $6,103,000 after purchasing an additional 185,373 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Ennis by 61.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 28,751 shares of the industrial products company’s stock valued at $699,000 after buying an additional 10,995 shares during the last quarter. Creative Planning boosted its position in Ennis by 84.9% during the 3rd quarter. Creative Planning now owns 57,093 shares of the industrial products company’s stock worth $1,389,000 after buying an additional 26,207 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Ennis in the second quarter worth $543,000. 74.33% of the stock is owned by institutional investors.

About Ennis

Ennis, Inc manufactures and sells business forms and other business products in the United States. The company offers snap sets, continuous forms, laser cut sheets, tags, labels, envelopes, integrated products, jumbo rolls, and pressure sensitive products under the Ennis, Royal Business Forms, Block Graphics, 360º Custom Labels, ColorWorx, Enfusion, Uncompromised Check Solutions, VersaSeal, Ad Concepts, FormSource Limited, Star Award Ribbon Company, Witt Printing, B&D Litho, Genforms, PrintGraphics, Calibrated Forms, PrintXcel, Printegra, Forms Manufacturers, Mutual Graphics, TRI-C Business Forms, Major Business Systems, Independent Printing, Hoosier Data Forms, Hayes Graphics, Wright Business Graphics, Wright 360, Integrated Print & Graphics, the Flesh Company, Impressions Direct, and AmeriPrint brands.