Needham & Company Reiterates a 'Buy' on EnerSys (ENS); Quarterly Results Highlight Strong Execution
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Price: $203.40 +3.05%
Rating Summary:
11 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on EnerSys (NYSE: ENS), PT $42.
Needham analyst says, "The fiscal 4Q11 results were inline with the preliminary view provided on May 11th, as EnerSys delivered another quarter of solid financial performance reflecting strong execution. We expect momentum to continue in the near-term due to healthy demand for industrial trucks that should translate into battery orders. In addition, the company should also benefit from the Chinese government’s curbing of local battery production over environmental pollution concerns."
"Sales increased 22% y/y (8% q/q) to $548.1 million with operating EPS of $0.75. The Motive Power segment grew 27% y/y (12% q/q) while Reserve Power increased 16% y/y. We expect EnerSys to benefit from a better macrosetting and are forecasting FY1Q12 revenues of $550.0 million and operating EPS of $0.67. Our estimates incorporate higher lead prices which the company should recapture over the next four months." (Needham lowers FY11 EPS estimate from $2.80 to $2.78)
For more ratings news on EnerSys click here and for the rating history of EnerSys click here.
Shares of EnerSys closed at $32.80 yesterday.
Needham analyst says, "The fiscal 4Q11 results were inline with the preliminary view provided on May 11th, as EnerSys delivered another quarter of solid financial performance reflecting strong execution. We expect momentum to continue in the near-term due to healthy demand for industrial trucks that should translate into battery orders. In addition, the company should also benefit from the Chinese government’s curbing of local battery production over environmental pollution concerns."
"Sales increased 22% y/y (8% q/q) to $548.1 million with operating EPS of $0.75. The Motive Power segment grew 27% y/y (12% q/q) while Reserve Power increased 16% y/y. We expect EnerSys to benefit from a better macrosetting and are forecasting FY1Q12 revenues of $550.0 million and operating EPS of $0.67. Our estimates incorporate higher lead prices which the company should recapture over the next four months." (Needham lowers FY11 EPS estimate from $2.80 to $2.78)
For more ratings news on EnerSys click here and for the rating history of EnerSys click here.
Shares of EnerSys closed at $32.80 yesterday.
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