Equities researchers at Jefferies Group (NYSE: JEF) raised their target price on shares of EnerSys (NYSE: ENS) to $40.00 in a report issued on Thursday.
The analysts wrote, “ENS reported results in line with the May 10 pre-release, however margins surprised to the upside. Despite European headwinds, continued acquisitionsand buildouts in developing markets will drive growth in FY13 and beyond, and management has consistently executed on this strategy. We think the very strong results and outlook will result in upwardly revised estimates; we increase our estimates and raise our PT to $40.”
Shares of EnerSys traded down 1.47% during mid-day trading on Thursday, hitting $32.90. EnerSys has a one year low of $17.35 and a one year high of $38.03. The company has a market cap of $1.577 billion and a P/E ratio of 11.40.
EnerSys last issued its quarterly earnings data on Tuesday, May 29th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.10. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts predict that EnerSys will post $0.78 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company reiterated a “buy” rating on shares of EnerSys in a research note to investors on Thursday. Finally, analysts at Stifel Nicolaus initiated coverage on shares of EnerSys in a research note to investors on Monday, March 5th. They set a “buy” rating and a $40.00 price target on the stock.
EnerSys is a manufacturer, marketer and distributor of industrial batteries. It has two primary industrial battery product lines: reserve power products and motive power products.
