We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's Why You Should Invest in EnerSys (ENS) Stock Now
Read MoreHide Full Article
EnerSys (ENS - Free Report) is thriving on the back of technological expertise and effective pricing policies. Solid product offerings, a firm focus on product innovation (including lithium, Touch-Safe, CPUC and DC fast charge) and strengthening demand should drive the company’s growth.
Let’s delve into the factors that make this Zacks Rank #1 (Strong Buy) company a smart investment choice at the moment.
Business Strength: Healthy business across well-diversified end markets has been benefiting EnerSys over time. Its Energy Systems sales are driven by strength in broadband, data center and telecom businesses, and favorable pricing actions. Also, increased battery sales in America & EMEA bode well for the segment. Robust demand in electrification and automation end markets, as well as healthy backlog levels and stable demand trends, are driving growth in the Motive Power segment. Robust demand from Class 8 Truck OEMs and accretive pricing policies are supporting the Specialty segment’s performance.
Accretive Acquisitions: The company solidified its product portfolio and leveraged business opportunities by adding assets. ENS acquired battery service and maintenance provider Industrial Battery and Charger Services Limited (IBCS) in April 2023. The addition of IBCS has bolstered the company’s motive power service offerings and strengthened its presence in the UK market. It also augmented EnerSys’ comprehensive range of battery-related services including installation and maintenance to repair and replacement.
Rewards to Shareholders: ENS is committed to rewarding its shareholders handsomely. The company paid out dividends worth $29.4 million in fiscal 2022 (ended March 2022) and $28.5 million in fiscal 2023 (ended March 2023). Its treasury stock buybacks totaled $156.4 million in fiscal 2022 and $22.9 million in fiscal 2023.
Northward Estimate Revision: The Zacks Consensus Estimate for ENS’ fiscal 2024 (ending March 2024) earnings has been revised upward by 11.6% in the past 60 days.
Price Performance: Shares of EnerSys have gained 47% in the year-to-date period, outperforming the industry’s 12.3% increase.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked companies from the Industrial Products sector are discussed below:
IR delivered a trailing four-quarter earnings surprise of 12.6%, on average. In the past 60 days, estimates for Ingersoll Rand’s 2023 earnings have increased 6.3%. The stock has improved 24.8% in the year-to-date period.
Alamo Group Inc. (ALG - Free Report) currently sports a Zacks Rank of 1. ALG delivered a trailing four-quarter earnings surprise of 17.7%, on average.
In the past 60 days, estimates for Alamo’s 2023 earnings have increased 12.7%. The stock has increased 30.5% in the year-to-date period.
Axon Enterprise (AXON - Free Report) sports a Zacks Rank of 1, at present. The company has a trailing four-quarter earnings surprise of 44.4%, on average.
In the past 60 days, estimates for Axon’s 2023 earnings have increased 12.6%. The stock has rallied 17.2% in the year-to-date period.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Here's Why You Should Invest in EnerSys (ENS) Stock Now
EnerSys (ENS - Free Report) is thriving on the back of technological expertise and effective pricing policies. Solid product offerings, a firm focus on product innovation (including lithium, Touch-Safe, CPUC and DC fast charge) and strengthening demand should drive the company’s growth.
Let’s delve into the factors that make this Zacks Rank #1 (Strong Buy) company a smart investment choice at the moment.
Business Strength: Healthy business across well-diversified end markets has been benefiting EnerSys over time. Its Energy Systems sales are driven by strength in broadband, data center and telecom businesses, and favorable pricing actions. Also, increased battery sales in America & EMEA bode well for the segment. Robust demand in electrification and automation end markets, as well as healthy backlog levels and stable demand trends, are driving growth in the Motive Power segment. Robust demand from Class 8 Truck OEMs and accretive pricing policies are supporting the Specialty segment’s performance.
Accretive Acquisitions: The company solidified its product portfolio and leveraged business opportunities by adding assets. ENS acquired battery service and maintenance provider Industrial Battery and Charger Services Limited (IBCS) in April 2023. The addition of IBCS has bolstered the company’s motive power service offerings and strengthened its presence in the UK market. It also augmented EnerSys’ comprehensive range of battery-related services including installation and maintenance to repair and replacement.
Rewards to Shareholders: ENS is committed to rewarding its shareholders handsomely. The company paid out dividends worth $29.4 million in fiscal 2022 (ended March 2022) and $28.5 million in fiscal 2023 (ended March 2023). Its treasury stock buybacks totaled $156.4 million in fiscal 2022 and $22.9 million in fiscal 2023.
Northward Estimate Revision: The Zacks Consensus Estimate for ENS’ fiscal 2024 (ending March 2024) earnings has been revised upward by 11.6% in the past 60 days.
Price Performance: Shares of EnerSys have gained 47% in the year-to-date period, outperforming the industry’s 12.3% increase.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked companies from the Industrial Products sector are discussed below:
Ingersoll Rand Inc. (IR - Free Report) presently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks.
IR delivered a trailing four-quarter earnings surprise of 12.6%, on average. In the past 60 days, estimates for Ingersoll Rand’s 2023 earnings have increased 6.3%. The stock has improved 24.8% in the year-to-date period.
Alamo Group Inc. (ALG - Free Report) currently sports a Zacks Rank of 1. ALG delivered a trailing four-quarter earnings surprise of 17.7%, on average.
In the past 60 days, estimates for Alamo’s 2023 earnings have increased 12.7%. The stock has increased 30.5% in the year-to-date period.
Axon Enterprise (AXON - Free Report) sports a Zacks Rank of 1, at present. The company has a trailing four-quarter earnings surprise of 44.4%, on average.
In the past 60 days, estimates for Axon’s 2023 earnings have increased 12.6%. The stock has rallied 17.2% in the year-to-date period.