Ennis (NYSE:EBF) Downgraded to Buy at StockNews.com

Ennis (NYSE:EBF) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday.

Ennis Stock Down 4.5 %

EBF stock traded down $1.14 during trading on Wednesday, reaching $24.11. The company’s stock had a trading volume of 202,528 shares, compared to its average volume of 108,561. The company’s fifty day moving average is $23.30 and its 200-day moving average is $21.63. The company has a market capitalization of $626.38 million, a P/E ratio of 15.07 and a beta of 0.40. Ennis has a 1 year low of $18.88 and a 1 year high of $25.75.

Institutional Investors Weigh In On Ennis

A number of institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Ennis by 74.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,588 shares of the industrial products company’s stock worth $1,346,000 after acquiring an additional 27,921 shares during the last quarter. Koss Olinger Consulting LLC purchased a new position in shares of Ennis during the second quarter valued at about $494,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Ennis by 11.1% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 61,646 shares of the industrial products company’s stock worth $1,264,000 after purchasing an additional 6,139 shares during the last quarter. CWM LLC boosted its stake in Ennis by 97.0% during the second quarter. CWM LLC now owns 3,849 shares of the industrial products company’s stock valued at $84,000 after buying an additional 1,895 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in Ennis during the 4th quarter valued at approximately $214,000. 74.33% of the stock is owned by hedge funds and other institutional investors.

Ennis Company Profile

Ennis, Inc manufactures and sells business forms and other business products in the United States. The company offers snap sets, continuous forms, laser cut sheets, tags, labels, envelopes, integrated products, jumbo rolls, and pressure sensitive products under the Ennis, Royal Business Forms, Block Graphics, 360º Custom Labels, ColorWorx, Enfusion, Uncompromised Check Solutions, VersaSeal, Ad Concepts, FormSource Limited, Star Award Ribbon Company, Witt Printing, B&D Litho, Genforms, PrintGraphics, Calibrated Forms, PrintXcel, Printegra, Forms Manufacturers, Mutual Graphics, TRI-C Business Forms, Major Business Systems, Independent Printing, Hoosier Data Forms, Hayes Graphics, Wright Business Graphics, Wright 360, Integrated Print & Graphics, the Flesh Company, Impressions Direct, and AmeriPrint brands.