Shares of Essendant Inc. (NASDAQ:ESND) have been given a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two investment 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 anticipating that the company will post $0.26 EPS for the current quarter, according to Zacks. Zacks has also given Essendant an industry rank of 144 out of 265 based on the ratings given to related companies.
A number of analysts have recently commented on ESND shares. Zacks Investment Research raised Essendant from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 21st. Jefferies Group reiterated a “hold” rating and issued a $18.00 price objective (down from $23.50) on shares of Essendant in a research report on Friday, October 28th.
Essendant (NASDAQ:ESND) opened at 20.25 on Monday. The company’s market cap is $748.60 million. Essendant has a 52-week low of $14.72 and a 52-week high of $34.99. The stock has a 50 day moving average of $20.78 and a 200-day moving average of $20.48.
Essendant (NASDAQ:ESND) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by $0.10. The company earned $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. Essendant had a negative net margin of 0.55% and a positive return on equity of 11.74%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share. On average, analysts forecast that Essendant will post $1.84 EPS for the current year.
In other Essendant news, SVP Eric A. Blanchard sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $19.57, for a total transaction of $156,560.00. Following the completion of the transaction, 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 legal filing with the SEC, which is available at this hyperlink. Also, SVP Carole W. Tomko sold 3,400 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $15.41, for a total value of $52,394.00. Following the transaction, the senior vice president now directly owns 25,938 shares of the company’s stock, valued at approximately $399,704.58. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. increased its position in Essendant by 1.2% in the second quarter. Whittier Trust Co. now owns 31,413 shares of the company’s stock worth $960,000 after buying an additional 381 shares during the period. Emerald Acquisition Ltd. purchased a new position in Essendant during the second quarter worth $1,227,000. California Public Employees Retirement System increased its position in Essendant by 1.0% in the second quarter. California Public Employees Retirement System now owns 134,500 shares of the company’s stock worth $4,110,000 after buying an additional 1,300 shares during the period. Airain ltd purchased a new position in Essendant during the second quarter worth $363,000. Finally, Ameriprise Financial Inc. increased its position in Essendant by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 196,837 shares of the company’s stock worth $6,016,000 after buying an additional 4,725 shares during the period. 93.51% of the stock is owned by hedge funds and other institutional investors.
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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