Morgan Stanley Issues Positive Forecast for Energizer (NYSE:ENR) Stock Price

Energizer (NYSE:ENR) had its price objective upped by Morgan Stanley from $33.00 to $36.00 in a report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also issued reports on ENR. Truist Financial raised Energizer from a “hold” rating to a “buy” rating and lifted their price target for the stock from $30.00 to $40.00 in a research note on Tuesday, August 27th. StockNews.com lowered Energizer from a “buy” rating to a “hold” rating in a research note on Monday, October 14th. Barclays cut shares of Energizer from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $34.00 to $36.00 in a research report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and issued a $38.00 price objective on shares of Energizer in a report on Wednesday, August 7th. Finally, Evercore ISI decreased their target price on shares of Energizer from $42.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $37.63.

Energizer Stock Performance

NYSE ENR opened at $38.30 on Wednesday. Energizer has a 52-week low of $26.92 and a 52-week high of $39.21. The company has a fifty day moving average of $32.36 and a 200-day moving average of $30.68. The company has a market capitalization of $2.75 billion, a P/E ratio of 73.66 and a beta of 1.04. The company has a debt-to-equity ratio of 23.51, a quick ratio of 1.01 and a current ratio of 1.80.

Energizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Wednesday, November 27th. Energizer’s dividend payout ratio is currently 230.77%.

Insiders Place Their Bets

In related news, EVP Robin Vauth sold 1,978 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 5,758 shares of the company’s stock, valued at $207,115.26. This represents a 25.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.77% of the stock is currently owned by company insiders.

Institutional Trading of Energizer

Hedge funds have recently modified their holdings of the business. Neo Ivy Capital Management bought a new position in shares of Energizer in the 3rd quarter worth about $30,000. Clearstead Trust LLC increased its stake in shares of Energizer by 307.1% during the second quarter. Clearstead Trust LLC now owns 1,087 shares of the company’s stock valued at $32,000 after purchasing an additional 820 shares in the last quarter. Quarry LP purchased a new position in shares of Energizer during the third quarter valued at approximately $39,000. Prospera Private Wealth LLC bought a new stake in shares of Energizer in the 3rd quarter worth approximately $42,000. Finally, Avior Wealth Management LLC grew its stake in shares of Energizer by 22.4% in the 3rd quarter. Avior Wealth Management LLC now owns 2,058 shares of the company’s stock worth $65,000 after buying an additional 376 shares during the last quarter. Institutional investors own 93.74% of the company’s stock.

About Energizer

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.