BidaskClub Downgrades Essendant (ESND) to Sell

Essendant (NASDAQ:ESND) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Separately, TheStreet upgraded shares of Essendant from a “d+” rating to a “c” rating in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Shares of NASDAQ ESND opened at $12.81 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.03 and a quick ratio of 1.01. Essendant has a 12 month low of $7.20 and a 12 month high of $17.08. The firm has a market capitalization of $478.92 million, a price-to-earnings ratio of 70.56 and a beta of 1.26.



Essendant (NASDAQ:ESND) last issued its quarterly earnings results on Thursday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.20. The company had revenue of $1.25 billion during the quarter. Essendant had a negative net margin of 2.70% and a positive return on equity of 1.51%.

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Essendant by 6.0% in the 1st quarter. BlackRock Inc. now owns 5,145,628 shares of the company’s stock worth $40,134,000 after acquiring an additional 291,779 shares in the last quarter. Pzena Investment Management LLC increased its stake in shares of Essendant by 1.5% in the 2nd quarter. Pzena Investment Management LLC now owns 4,940,224 shares of the company’s stock worth $65,310,000 after acquiring an additional 73,334 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Essendant by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,874,201 shares of the company’s stock worth $37,997,000 after acquiring an additional 171,061 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Essendant by 25.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,354,991 shares of the company’s stock worth $17,913,000 after acquiring an additional 278,361 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Essendant by 48.5% in the 1st quarter. JPMorgan Chase & Co. now owns 979,212 shares of the company’s stock worth $7,638,000 after acquiring an additional 319,982 shares in the last quarter. Institutional investors own 83.50% of the company’s stock.

About Essendant

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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