Essendant (NASDAQ:ESND) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Saturday.
Shares of Essendant stock opened at $12.59 on Friday. The company has a market cap of $474.29 million, a PE ratio of 1,260.00 and a beta of 0.88. Essendant has a 1-year low of $7.20 and a 1-year high of $17.08. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.98 and a current ratio of 1.96.
Essendant (NASDAQ:ESND) last released its quarterly earnings results on Thursday, October 25th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.04). The firm had revenue of $1.29 billion for the quarter. Essendant had a negative net margin of 1.15% and a positive return on equity of 0.11%.
Several hedge funds have recently added to or reduced their stakes in the company. Harvest Management LLC raised its position in Essendant by 41.0% in the third quarter. Harvest Management LLC now owns 14,100 shares of the company’s stock valued at $181,000 after purchasing an additional 4,100 shares during the period. JPMorgan Chase & Co. raised its position in Essendant by 54.9% in the third quarter. JPMorgan Chase & Co. now owns 1,642,750 shares of the company’s stock valued at $21,060,000 after purchasing an additional 582,069 shares during the period. Modera Wealth Management LLC purchased a new stake in Essendant in the third quarter valued at approximately $153,000. Public Employees Retirement System of Ohio raised its position in Essendant by 9.4% in the second quarter. Public Employees Retirement System of Ohio now owns 42,351 shares of the company’s stock valued at $560,000 after purchasing an additional 3,645 shares during the period. Finally, Ancora Advisors LLC purchased a new stake in Essendant in the third quarter valued at approximately $216,000. 82.01% of the stock is currently owned by hedge funds and other institutional investors.
Essendant Inc operates as a distributor of workplace items in the United States and internationally. It offers janitorial and sanitation supplies, breakroom items, foodservice consumables, safety and security items, and paper and packaging supplies. The company also provides technology products, such as computer accessories, imaging supplies, and data storage products; and computer hardware, including printers and other peripherals.
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