Essendant Inc. (NASDAQ:ESND) has been given a consensus broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating.
Brokers have set a 1-year consensus price target of $18.00 for the company and are predicting that the company will post $0.26 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Essendant an industry rank of 95 out of 265 based on the ratings given to related companies.
A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Essendant from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 27th. Jefferies Group LLC reissued a “hold” rating and set a $18.00 target price (down from $23.50) on shares of Essendant in a report on Friday, October 28th.
In related news, SVP Eric A. Blanchard sold 8,000 shares of the stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $19.57, for a total value of $156,560.00. Following the sale, the senior vice president now owns 44,913 shares of the company’s stock, valued at approximately $878,947.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Eric A. Blanchard sold 3,900 shares of the stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $20.02, for a total transaction of $78,078.00. Following the completion of the sale, the senior vice president now directly owns 40,913 shares in the company, valued at approximately $819,078.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,100 shares of company stock worth $238,836. Corporate insiders own 1.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Lombardia Capital Partners LLC bought a new stake in Essendant during the third quarter valued at $5,482,000. BlackRock Advisors LLC increased its stake in Essendant by 1,424.3% in the second quarter. BlackRock Advisors LLC now owns 265,001 shares of the company’s stock valued at $8,098,000 after buying an additional 247,616 shares in the last quarter. Neumeier Poma Investment Counsel LLC increased its stake in Essendant by 77.5% in the second quarter. Neumeier Poma Investment Counsel LLC now owns 499,090 shares of the company’s stock valued at $15,252,000 after buying an additional 217,890 shares in the last quarter. BlackRock Fund Advisors increased its stake in Essendant by 8.6% in the third quarter. BlackRock Fund Advisors now owns 2,671,640 shares of the company’s stock valued at $54,822,000 after buying an additional 211,572 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in Essendant by 14.1% in the second quarter. Macquarie Group Ltd. now owns 1,291,786 shares of the company’s stock valued at $39,477,000 after buying an additional 159,880 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.
Essendant (NASDAQ:ESND) opened at 21.06 on Monday. The firm’s 50-day moving average is $20.83 and its 200 day moving average is $19.55. The stock’s market capitalization is $778.55 million. Essendant has a 12 month low of $14.72 and a 12 month high of $34.99.
Essendant Company Profile
Essendant Inc (Essendant), formerly United Stationers Inc, is a wholesale distributor of workplace items. The Company stocks an assortment of over 180,000 products in categories, including janitorial and breakroom supplies, technology products, traditional office products, industrial supplies, office furniture, and automotive aftermarket tools and equipment.
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