EnerSys Stock (NYSE:ENS), Trade Ideas

EnerSys

EnerSys provides stored energy solutions for industrial applications. It also manufactures and distributes energy systems solutions and motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Energy Systems which combine enclosures, power conversion, power distribution and energy storage are used in the telecommunication and broadband, utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions. Its segments include Energy Systems, Motive Power, and Specialty.

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EnerSys Secures Better Project Award From The U.S. Department Of Energy Better Plants Program To Implement The Sovema Cold Cube Cutting System. This Award Is The Second Award That Enersys Has Received In Two Years From DOE

EnerSys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENS#NYSE">ENS</a>), the global leader in stored energy solutions for industrial applications, has announced that it has selected Greenville, South Carolina to develop a lithium-ion cell gigafactory to advance battery production in the United States. This new factory represents a long-term opportunity that will enable growth and allow EnerSys to optimize cell sizing in battery solutions for its customers, providing independence from non-domestic cell suppliers.
EnerSys has applied for a comprehensive incentive package through South Carolina and Greenville County valued at approximately $200 million, which includes a combination of short-term and long-term incentives. The Company intends to use a portion of these proceeds, along with the Inflation Reduction Act (IRA) IRC 45X tax benefits and potential additional federal funding, to make a $500 million investment with the potential to create 500 high-quality new jobs.
EnerSys is evaluating the development of a 500,000 square foot state-of the-art manufacturing facility on approximately 140 acres in the Augusta Grove business park in Greenville. The operation, which would be the company's second in South Carolina, would manufacture various form factors of lithium-ion cells for commercial, industrial and defense applications, with a production capacity of four gigawatt hours (GWh) per year.
"We recognize Greenville as an emerging hub for high-tech companies with an attractive talent pool in a thriving community. EnerSys is accelerating the global clean energy transition by significantly expanding our production of lithium-ion batteries across a broad range of end markets and applications. With the support of South Carolina and Greenville County this factory will help us meet our customers' needs, including those with specific manufacturing requirements for domestic sourced batteries," said EnerSys President &amp; CEO David M. Shaffer.
"Congratulations to EnerSys and Greenville County on a partnership that brings new opportunities to South Carolina. The Upstate is set for significant transformation with an extraordinary $500 million investment, accompanied by the creation of 500 new jobs. This investment will shape the region's future, fostering sustained prosperity for South Carolina in the years ahead," said Gov. Henry McMaster.
"We are pleased that EnerSys chose South Carolina to increase its statewide presence and host such a large operation. Our pro-business climate and prepared workforce make it possible for companies to start, grow and thrive in a place they enjoy calling home,"said Secretary of Commerce Harry M. Lightsey III.
"Greenville County is proud to welcome EnerSys to South Carolina's Upstate. Although growing, this community maintains a reputation for serving and helping one another. We look forward to including EnerSys and its team members in our Greenville family as we evolve into a long-lasting and successful partnership," said Chairman of the House of Representatives Ways and Means Committee Bruce Bannister.
"Greenville welcomes EnerSys to our county and is grateful to its team for selecting our community to expand its technological capabilities. The company's investment is a testament to Greenville's diverse and robust manufacturing environment and highly skilled workforce," said Greenville County Council Chairman Dan Tripp.
This latest development comes after EnerSys <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Finvestor.enersys.com%2Fnews-releases%2Fnews-release-details%2Fenersys-and-verkor-partner-explore-development-lithium-ion&amp;esheet=53896447&amp;newsitemid=20240214366072&amp;lan=en-US&amp;anchor=announced&amp;index=1&amp;md5=9e9fb3a023f9879e9f186f633a97733e">announced</a> on June 14, 2023, that it had entered into a non-binding Memorandum of Understanding (MOU) with <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fverkor.com%2Fen%2F&amp;esheet=53896447&amp;newsitemid=20240214366072&amp;lan=en-US&amp;anchor=Verkor+SAS&amp;index=2&amp;md5=85c63ed15253c704e46f571ec6328cfc">Verkor SAS</a>, a European leader in battery technology, to explore the development of a lithium battery gigafactory in the United States.
The Company is targeting construction to begin in early 2025 and operations to be online in late 2027.
The transaction, among other things, is subject to customary closing conditions, final Board approval, regulatory and incentive approvals.

Contracts

EnerSys Selects Greenville, South Carolina To Advance Its Lithium Battery Production In The United States, The $500M Investment Has The Potential To Create 500 New Jobs

Trading Ideas

EnerSys Shares Halted, News Pending

Oppenheimer&nbsp;analyst Noah Kaye downgraded&nbsp;EnerSys&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENS#NYSE">ENS</a>) to Perform from Outperform and&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/ENS/analyst-ratings" rel="noreferrer noopener">removed the prior price target of $113</a>.
The analyst re-rated the stock following the third-quarter FY24 revenue miss and below&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/b36992326/enersys-reports-third-quarter-fiscal-2024-results" rel="noreferrer noopener">consensus fourth-quarter FY24 guidance.</a>&nbsp;
Yesterday, the company reported an adjusted EPS of $2.56, beating the street view of $2.38 and sales of $861.50 million, missing the consensus of $898.87 million.
EnerSys guided for Q4 adj. EPS of $1.98-$2.08<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">&nbsp;vs. estimate of $2.22</a>.
The analyst writes that the slowdown in telecom/broadband impacted multiple segments in the quarter.&nbsp;
Kaye says that the recovery prospects seem weighted towards calendar second half 2024, with retooling plants for production flexibility projected to occur during the calendar year 2025.&nbsp;
The analyst says that the company&#8217;s efforts to lower costs and boost production flexibility are positive steps, but stronger initiatives are needed to improve margins structurally and more effectively capitalize on the growth drivers.&nbsp;
The analyst lowered revenue and EPS estimates to $3.56 billion (from $3.62 billion) and $8.31 (from $8.46) for FY24 and to $3.56 billion (from $3.60 billion) and $9.00 (from $9.03), respectively, for FY25.&nbsp;
Price Action: ENS shares are trading lower by 1.07% at $89.89 on the last check Friday.

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Earnings

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$ENS

Telecom Woes Hit EnerSys Hard, Analyst Downgrades Stock

Oppenheimer analyst Noah Kaye downgrades EnerSys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENS#NYSE">ENS</a>) from Outperform to Perform.

Analyst Ratings

Oppenheimer Downgrades EnerSys to Perform

WIIM

EnerSys shares are trading lower after the company reported mixed Q3 financial results and issued Q4 adjusted EPS guidance below estimates.

Guidance

EnerSys Sees Q4 2024 Adj. EPS $1.98-$2.08 Vs $2.22 Est.

EnerSys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENS#NYSE">ENS</a>) reported its Q3 earnings results on Wednesday, February 7, 2024 at 04:15 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
EnerSys beat estimated earnings by 8.02%, reporting an EPS of $2.56 versus an estimate of $2.37.
Revenue was down $58.70 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.03 which was followed by a 3.55% drop in the share price the next day.
Here's a look at EnerSys's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.81</td>
<td>1.80</td>
<td>1.38</td>
<td>1.23</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.84</td>
<td>1.89</td>
<td>1.82</td>
<td>1.27</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>911.90M</td>
<td>962.03M</td>
<td>950.98M</td>
<td>926.52M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>901.00M</td>
<td>908.60M</td>
<td>989.90M</td>
<td>920.20M</td>
</tr>
</tbody>
</table>

To track all earnings releases for EnerSys <a href="https://www.benzinga.com/quote/ENS/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

EnerSys: Q3 Earnings Insights

EnerSys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENS#NYSE">ENS</a>) reported quarterly earnings of $2.56 per share which beat the analyst consensus estimate of $2.38 by 7.56 percent. This is a 101.57 percent increase over earnings of $1.27 per share from the same period last year. The company reported quarterly sales of $861.50 million which missed the analyst consensus estimate of $898.87 million by 4.16 percent. This is a 6.38 percent decrease over sales of $920.20 million the same period last year.

Earnings Beats

Earnings Misses

EnerSys Q3 2024 Adj EPS $2.56 Beats $2.38 Estimate, Sales $861.50M Miss $898.87M Estimate

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Earnings Scheduled For February 7, 2024

EnerSys Launches NexSys AIR Wireless Charger

<a href="https://www.enersys.com/en/about-us/news/enersys-and-ctek-announce-strategic-collaboration-to-bring-high-performance-chargers-to-global-markets/" title="https://www.enersys.com/en/about-us/news/enersys-and-ctek-announce-strategic-collaboration-to-bring-high-performance-chargers-to-global-markets/">https://www.enersys.com/en/about-us/news/enersys-and-ctek-announce-strategic-collaboration-to-bring-high-performance-chargers-to-global-markets/</a>

Enersys, CTEK Announce Strategic Collaboration; Terms Not Disclosed

Energy solutions provider&nbsp;EnerSys&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ens#NYSE">ENS</a>) shares are trading higher after it updated its third quarter fiscal 2024 adjusted&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/12/b36314932/enersys-provides-update-on-irc-section-45x-tax-credit-benefits-and-updated-guidance-for-its-fiscal" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">EPS guidance from $1.80 - $1.90 to $2.50 - $2.60</a>.
The update follows the December 14, 2023, issuance of proposed regulations by the U.S. Department of the Treasury regarding the Advanced Manufacturing Production Credit - Section 45X of the Internal Revenue Code.
The regulations provide additional clarification on the methodology for calculating capacities of batteries that qualify for tax credits.
The regulations, EnerSys said, will result in more of its product sales than previously anticipated to qualify for the related tax credits.
Hence, the company now expects the annual tax credits to be $120 million - $160 million versus the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/calendars/guidance" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">previous outlook of $80 million - $120 million.</a>
&quot;EnerSys&#39;s eligibility for Section 45X credits emphasizes the critical role our products play in helping to drive the global energy transition,&quot; said President &amp; CEO David M. Shaffer.
Oppenheimer&nbsp;analyst Noah Kaye reiterated an Outperform rating on the shares of EnerSys and&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/quote/ENS/analyst-ratings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">raised the price target from $110 to $116.</a>
The analyst says the $0.70 increase to F3Q EPS guidance midpoint benefits from a three-quarter lookback on the higher credits, partly mitigated by greater decline in telecom customer spend.
Price Action: ENS shares are trading higher by 5.15% at $101.73 on the last check Wednesday.

Price Target

Reiteration

Markets

Movers

Why Are Battery Manufacturing Company EnerSys Shares Shooting Higher Today?

EnerSys shares are trading higher after the company updated its Q3 2024 adjusted EPS guidance above estimates. Additionally, Oppenheimer maintained an Outperform rating on the stock and raised its price target from $110 to $116.

U.S. stocks traded mixed, with the Dow Jones index falling around 50 points on Wednesday.
Shares of The Toro Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ttc#NYSE">TTC</a>) rose sharply during Wednesday&rsquo;s session after the company reported better-than-expected fourth-quarter financial <a href="https://www.benzinga.com/quote/TTC/earnings">results and issued guidance</a>.
Toro posted adjusted earnings of 71 cents per share, beating market estimates of 56 cents per share. The company&rsquo;s quarterly sales came in at $983.20 million versus expectations of $973.65 million, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Toro shares surged 8.2% to $96.54 on Wednesday.
Here are some other big stocks recording gains in today&rsquo;s session.
<ul>
<li>Conduit Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdt#NASDAQ">CDT</a>) climbed 35% to $5.65.</li>
<li>Canaan Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/can#NASDAQ">CAN</a>) rose 20.8% to $2.6950.</li>
<li>MacroGenics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgnx#NASDAQ">MGNX</a>) jumped 12.7% to $10.41. Citigroup upgraded Macrogenics from Neutral to Buy and raised the price target from $7 to $13.</li>
<li>Clear Channel Outdoor Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cco#NYSE">CCO</a>) surged 12.5% to $1.89. Clear Channel Outdoor named David Sailer as Executive Vice President, CFO, effective as of March 1, 2024 and reaffirmed guidance for FY23.</li>
<li>Liquidia Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lqda#NASDAQ">LQDA</a>) rose 11.5% to $8.79.</li>
<li>Despegar.com, Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/desp#NYSE">DESP</a>) climbed 11% to $10.10. B. Riley Securities maintained Despegar.com with a Buy and raised the price target from $12 to $15.</li>
<li>Innoviz Technologies Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/invz#NASDAQ">INVZ</a>) gained 10.2% to $2.9214.</li>
<li>HIVE Digital Technologies Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hive#NASDAQ">HIVE</a>) rose 9.9% to $4.2090. HIVE Digital recently announced a $25 million bought deal private placement of 5m special warrants at a price of $5/warrant financing.</li>
<li>ImmunityBio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ibrx#NASDAQ">IBRX</a>) gained 9.6% to $4.67.</li>
<li>Oddity Tech Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/odd#NASDAQ">ODD</a>) gained 8.5% to $47.82.</li>
<li>Wheels Up Experience Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/up#NYSE">UP</a>) gained 8.2% to $2.37.</li>
<li>TeraWulf Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wulf#NASDAQ">WULF</a>) rose 6.1% to $2.10.</li>
<li>Marathon Digital Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mara#NASDAQ">MARA</a>) gained 6.1% to $23.30 after HC Wainwright &amp; Co maintained a Buy rating on the stock and raised its price target from $20 to $24.</li>
<li>EnerSys (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ens#NYSE">ENS</a>) gained 5.6% to $102.22. Oppenheimer maintained EnerSys with an Outperform and raised the price target from $110 to $116.</li>
<li>Exact Sciences Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/exas#NASDAQ">EXAS</a>) rose 5% to $72.81.</li>
<li>WW International, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ww#NYSE">WW</a>) gained 4.1% to $8.72.</li>
</ul>
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Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/12/36323736/around-2m-bet-on-this-healthcare-stock-check-out-these-4-penny-stocks-insiders-are-aggre"> Around $2M Bet On This Healthcare Stock? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying</a>

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Toro Posts Upbeat Results, Joins Clear Channel Outdoor, Marathon Digital And Other Big Stocks Moving Higher On Wednesday

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="http://benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Raymond James boosted Teleflex Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tfx#NYSE">TFX</a>) price target from $227 to $271. Raymond James analyst Jayson Bedford maintained an Outperform rating. Teleflex shares rose 0.2% to close at $253.83 on Tuesday. <a href="https://www.benzinga.com/quote/TFX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup increased the price target for MacroGenics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgnx#NASDAQ">MGNX</a>) from $7 to $13. Citigroup analyst Yigal Nochomovitz upgraded the stock from Neutral to Buy. MacroGenics shares gained 6.3% to close at $9.23 on Tuesday. <a href="https://www.benzinga.com/quote/MGNX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Stifel raised the price target for Lowe&#39;s Companies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/low#NYSE">LOW</a>) from $235 to $240. Stifel analyst W. Andrew Carter downgraded the stock from Buy to Hold. Lowe&#39;s shares gained 0.6% to close at $225.42 on Tuesday. <a href="https://www.benzinga.com/quote/LOW/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Wells Fargo increased the price target for Paramount Global (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/para#NASDAQ">PARA</a>) from $15 to $18. Wells Fargo analyst Steven Cahall upgraded the stock from Underweight to Equal-Weight. Paramount Global shares rose 2% to close at $15.82 on Tuesday. <a href="https://www.benzinga.com/quote/PARA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Piper Sandler boosted the price target for Newmark Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nmrk#NASDAQ">NMRK</a>) from $7 to $13. Piper Sandler analyst Alexander Goldfarb upgraded the stock from Neutral to Overweight. Newmark shares gained 1% to close at $10.07 on Tuesday. <a href="https://www.benzinga.com/quote/NMRK/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup boosted Mirati Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrtx#NASDAQ">MRTX</a>) price target from $48 to $59. Citigroup analyst Yigal Nochomovitz downgraded the stock from Buy to Neutral. Mirati Therapeutics shares gained 1.7% to close at $58.78 on Tuesday. <a href="https://www.benzinga.com/quote/MRTX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>HC Wainwright &amp; Co. raised Marathon Digital Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mara#NASDAQ">MARA</a>) price target from $20 to $24. HC Wainwright &amp; Co. analyst Kevin Dede maintained a Buy rating. Marathon Digital shares gained 10.5% to close at $21.97 on Tuesday. <a href="https://www.benzinga.com/quote/MARA/analyst-ratings">See how other analysts view this stock.</a></li>
<li>UBS cut Coupang, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cpng#NYSE">CPNG</a>) price target from $26 to $18.5. UBS analyst Jennifer Han downgraded the stock from Buy to Neutral. Coupang shares rose 1.9% to close at $16.46 on Tuesday. <a href="https://www.benzinga.com/quote/CPNG/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barclays slashed FedEx Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdx#NYSE">FDX</a>) price target from $330 to $310. Barclays analyst Brandon Oglenski maintained an Overweight rating. FedEx shares fell 0.7% to close at $280.00 on Tuesday. <a href="https://www.benzinga.com/quote/FDX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Oppenheimer boosted EnerSys (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ens#NYSE">ENS</a>) price target from $110 to $116. Oppenheimer analyst Noah Kaye maintained an Outperform rating. EnerSys shares gained 0.7% to close at $96.75 on Tuesday. <a href="https://www.benzinga.com/quote/ENS/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
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EnerSys To Rally Around 20%? Here Are 10 Top Analyst Forecasts For Wednesday

Oppenheimer analyst Noah Kaye maintains EnerSys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENS#NYSE">ENS</a>) with a Outperform and raises the price target from $110 to $116.

Oppenheimer Maintains Outperform on EnerSys, Raises Price Target to $116

Based on the proposed regulations from the U.S. Department of the Treasury, the Company now expects its third quarter fiscal 2024 adjusted diluted EPS to be in the range of $2.50 to $2.60, which reflects an adjustment – including retroactive impacts for the incremental IRC 45X tax benefits attributable to the fourth quarter of fiscal 2023 through the third quarter of fiscal 2024, as well as absorbing sustained capex pauses from telecom and broadband customers. This compares to the previously communicated range of $1.80 to $1.90.

EnerSys Provides Update On IRC Section 45X Tax Credit Benefits And Updated Guidance For Its Fiscal Q3 2024; Now Sees Q3 EPS $2.50-$2.60 Vs $1.85 Est.

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Shares of several companies in the broader industrial space are trading higher amid overall market strength following softer-than-expected October inflation data, which could put less pressure on the Fed to raise rates further.

EnerSys Wins 50 Unit Order For Its Fast Charge And Storage System

M&A drives Masonite to top industrial gainer of week, Insperity sees loser tag

EnerSys picks South Carolina for $500M lithium battery gigafactory

Enersys (ENS) has released an update. EnerSys has made an exciting announcement on February 14, 2024, revealing the selection of South Carolina as ...

Enersys Announces New Lithium Battery Facility in South Carolina

Analysts have been eager to weigh in on the Industrial Goods sector with new ratings on EnerSys (ENS – Research Report), CNH Industrial (CNHI – Res...

Analysts Conflicted on These Industrial Goods Names: EnerSys (ENS), CNH Industrial (CNHI) and Builders Firstsource (BLDR)

Oppenheimer analyst Noah Kaye maintained a Hold rating on EnerSys (ENS – Research Report) today. The company's shares closed yesterday at $90.38. K...

Oppenheimer Remains a Hold on EnerSys (ENS)

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<a href="https://investorplace.com/industries/energy/renewable-energy/battery/">Battery stocks</a> can get a bad rap owing to the underlying tech. Is the same energy structure powering your phone good enough to power your car or a house? What is the right balance of capacity, charging efficiency and battery longevity? Finding the best battery stocks to buy in April might be the key to answering these questions.



As battery tech keeps pace with demands, the <a href="https://www.grandviewresearch.com/industry-analysis/battery-market">global battery market size</a> is expected to grow at a compound annual growth rate (CAGR) of 15.8%, from $118.20 billion in 2023 to $329.84 billion by 2030.



But now that Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) is in a <a href="https://tokenist.com/tesla-and-two-other-stocks-trading-at-52-week-lows-that-can-rebound-strongly/">29% year to date (YTD) slump</a>, which battery stocks makes sense to hold ahead of the inevitable revival?



<h2>Microvast Holdings (MVST)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/04/ev-solid-state-battery1600-300x169.png" alt="Solid State Battery for EV Electric Vehicle, new research and development batteries with solid electrolyte energy storage for automotive car industry, cathode. 3d illustration. Top Battery Stocks to Buy"><div>Source: Just_Super / Shutterstock.com</div></div>Starting off with a penny battery stock for a cheap entry, Microvast Holdings (NASDAQ:<a href="https://investorplace.com/stock-quotes/mvst-stock-quote/">MVST</a>) is 37% above its 52-week low stock price of $0.53, presently at $0.83 per share. Based in Texas, the company vertically integrated its business to deploy battery tech for commercial and specialty vehicles.



Notably, it developed a high-energy nickel manganese cobalt (NMC) battery. On a quarterly basis, MVST&rsquo;s revenue grew consistently from Q1 2021, owing to its three battery manufacturing plants and over 630 patents and patent applications. The company concluded Q3 2023 with a 107.5% year over year (YOY) revenue increase to $80.1 million.&nbsp;



More importantly, its gross margin ramped up significantly from 5.2% to 22.3% YOY, indicating successful scaling of operations. On April 1, MVST reported its Q4 2023 earnings to conclude the financial year, <a href="https://ir.microvast.com/node/8211/html">delivering $106.4 million loss</a>, the lowest since 2021 ($206.4M) and 2022 ($158.2M).&nbsp;



Additionally, the gross margin for the full year ended with 18.7% compared to 4.4% in 2022. MVST&rsquo;s estimated earnings per share was negative $0.08 for the quarter, per Zacks Investment Research.&nbsp;



<h2>Panasonic Holdings Corporation (PCRFY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/pcrfy1600a-300x169.jpg" alt="A Panasonic (PCRFY) sign hanging in Beijing, China. generation z"><div>Source: testing/Shutterstock.com</div></div>Available as American Depositary Receipts (ADRs), Panasonic Holdings Corporation (OTCMKTS:<a href="https://investorplace.com/stock-quotes/pcrfy-stock-quote/">PCRFY</a>) is the staple of home electronics. From its yearly low-point of $8.73, PCRFY is now up 8.5% at $9.48 per share. Although it is common to view Panasonic Holdings Corporation as the hallmark of dischargeable batteries for small devices, the company has made great strides to expand in both scale and tech.



In 2020, the Japanese Panasonic decided to shift from its Tesla-demand dependency as its oldest partner. Having supplied Tesla with PHEV2 prismatic cells using NCM/LMO hybrid cathode, the company upgraded its PHEV2 form factor to NCM 622 chemistry.&nbsp;



The latter is the next gen for Japanese automakers like Toyota (NYSE:<a href="https://investorplace.com/stock-quotes/tm-stock-quote/">TM</a>). Fast forward to May 2023, Panasonic Holdings Corporation delayed its 4680 battery cells for Tesla, citing needed performance improvements. This rollout should begin in the present period between April and September.



Additionally, PCRFY entered a supply agreement with Mazda (OTCMKTS:<a href="https://investorplace.com/stock-quotes/mzday-stock-quote/">MZDAY</a>) for its cylindrical lithium-ion batteries on March 29th. And, in February&rsquo;s earnings report for Q3 of 2024, <a href="https://holdings.panasonic/global/corporate/investors/pdf/2023_3q/3q_news_release_e.pdf">PCRFY delivered a 36.7%</a> YOY increase in operating profit and 140% rise in net profit.&nbsp;



Along with a generous stock buyback program, this makes Panasonic Holdings Corporation one of the safest battery stocks to hold.



<h2>EnerSys (ENS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/battery-power-vector-300x169.png" alt="A vector illustration of a battery with neon lines swirling it; forever battery. promising battery stocks"><div>Source: MarySan / Shutterstock</div></div>EnerSys (NYSE:<a href="https://investorplace.com/stock-quotes/ens-stock-quote/">ENS</a>) is the global powerhouse for energy storage solutions, primarily for large scale industrial deployment such as renewables and telecom. Based in Pennsylvania, ENS hit the 52-week low at $79.61, now 18% above at $94 per share.&nbsp;



In February, the company selected Greenville in South Carolina to ramp up its U.S.-based battery manufacturing. Taking advantage of President Biden&rsquo;s Inflation Reduction Act (IRA), EnerSys expects a $200 million green incentive to create a $500 million investment on 140 acres of cutting edge facility.&nbsp;



In the same month, EnerSys reported fiscal year Q3 of 2024 earnings, delivering a 6% downturn in <a href="https://investor.enersys.com/news-releases/news-release-details/enersys-reports-third-quarter-fiscal-2024-results">net sales at $862 million</a>. This was to be expected given the cyclical nature of investments from broadband and telecom sectors. However, the company has beaten earnings per share estimates, even though slightly, for the last four quarters.



Also, EnerSys got the invite to participate in Wells Fargo Clean Energy Symposium last Tuesday. Given that Wells Fargo (NYSE:<a href="https://investorplace.com/stock-quotes/wfc-stock-quote/">WFC</a>) is a Global Systemically Important Bank (G-SIB), this indicates that EnerSys operates as a cog in a wider machine to push for the net-zero agenda.



On the date of publication, Shane Neagle did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://protect-us.mimecast.com/s/XtC3C1wq33iErOvYSGOsXg?domain=investorplace.com/">Publishing Guidelines</a>.
<div>Shane Neagle is fascinated by the ways in which technology is poised to disrupt investing. He specializes in fundamental analysis and growth investing.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/the-3-best-battery-stocks-to-buy-in-april-2024/">The 3 Best Battery Stocks to Buy in April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 3 Best Battery Stocks to Buy in April 2024

EnerSys wins 2024 U.S. Department of Energy Better Project award

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
<a href="https://investorplace.com/industries/energy/renewable-energy/battery/">Battery stocks</a> are at a critical juncture. Due to the current oversupply and demand dynamics, core metals lithium, cobalt, and nickel prices have fallen to multi-year lows. Moreover, Goldman Sachs projects a massive downtrend in cobalt, nickel, and lithium carbonate over the next 12 months.



Nevertheless, the long-term outlook for battery stocks remains highly compelling, which makes the current downturn a temporary, manageable setback. Furthermore, according to Inkwood Research, the global battery market is on the brink of a massive breakout, expected to grow at a CAGR of 16.68%&nbsp;<a href="https://inkwoodresearch.com/reports/battery-market/" target="_blank">from 2022 to 2030</a>, reaching $423.90 billion by 2030. For investors, this scenario presents a strategic entry point into battery stocks, promising robust returns as the market rebounds and continues expanding. With that said, here are three battery stocks that boast excellent long-term potential and &lsquo;strong buy&rsquo; consensus analyst ratings.



<h2>Battery Stocks: Panasonic (PCRFY)</h2>



<div><img width="300" height="165" src="https://investorplace.com/wp-content/uploads/2018/07/PCRFYmsn-compressor-300x165.jpg" alt="10 Lithium Stocks to Buy Despite the Market's Irrationality"><div>Source: Shutterstock</div></div>Panasonic&rsquo;s&nbsp;(OTCMKTS:<a target="_blank" href="https://investorplace.com/stock-quotes/pcrfy-stock-quote/">PCRFY</a>) pioneering role in developing battery technology makes it a no-brainer pick for niche investors. However, it&rsquo;s a lot more than just a battery producer. Panasonic&rsquo;s diverse electronics portfolio spanning multiple sectors helps effectively balance out segment losses.



Moreover, its battery business, while synonymous with its partnership with&nbsp;Tesla&nbsp;(NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>), has recently expanded through collaborations with other automotive giants such as&nbsp;Mazda&nbsp;(OTCMKTS:<a target="_blank" href="https://investorplace.com/stock-quotes/mzday-stock-quote/">MZDAY</a>) and&nbsp;Toyota&nbsp;(NYSE:<a target="_blank" href="https://investorplace.com/stock-quotes/tm-stock-quote/">TM</a>).



Though the battery market is under duress, Panasonic&rsquo;s diversity of operations allows the firm to continue pursuing plans for long-term expansion. It aims to&nbsp;<a target="_blank" href="https://www.reuters.com/business/autos-transportation/panasonic-needs-four-more-ev-battery-plants-meet-capacity-target-executive-says-2023-07-03/">boost capacity</a>&nbsp;to 200 GWh by 2031, which implies quadrupling capacity compared to last year.&nbsp;



Additionally, it&rsquo;s on silicon-based technology, which could enable a 500-mile EV range and 10-minute charge refills. Layer that up with its&nbsp;<a target="_blank" href="https://asia.nikkei.com/Business/Technology/Panasonic-to-produce-solid-state-battery-for-drones-by-2029">solid-state battery initiative</a>&nbsp;to power factory robots and drones, and you have a battery stock that boasts tremendous growth potential.



<h2>Enovix (ENVX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/04/solid-state-battery-qs1600-300x169.png" alt="Solid-state battery pack design for electric vehicle (EV) concept, new research and development batteries with solid electrolyte energy storage for future car industry, 3d Illustration. forever battery"><div>Source: JLStock / Shutterstock.com</div></div>Up-and-coming lithium-ion battery producer Enovix&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/envx-stock-quote/" target="_blank">ENVX</a>) is among a select few in its niche for its fast-paced innovation. It&rsquo;s looking to pioneer silicon-based lithium-ion battery technology, positioning it for robust sustainability, efficiency, and cost-effectiveness. Moreover, it&rsquo;s looking to shift gears from its research-heavy roots and broaden its horizons, targeting multiple sectors, including EVs, wearable tech, and smartphones, with its innovative technology. Some of its recent achievements include an <a href="https://www.med-technews.com/news/medtech-materials-and-assembly-news/enovis-batteries-use-in-accurate-s-multi-vital-signs-monitor/">FDA-approved vital sign monitor</a> and the supply of custom batteries for wearables to the U.S. Army.



Additionally, it is set to build a massive $1.2 billion plant in Malaysia to scale its operations. Therefore, with several positives to its name, <a href="https://www.tipranks.com/stocks/envx/forecast">ENVX stock is a &lsquo;strong buy&rsquo;</a> with a 316% upside ahead. Though it trades at a lofty 4.90 times trailing-twelve-month (TTM) its book value, its spectacular long-term growth trajectory positions it for a robust upside ahead.



<h2>EnerSys (ENS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/01/ev-stocks-ev-battery-300x169.png" alt="An image of the inside the hood of a car. XPON Stock. battery stocks to buy"><div>Source: Sergii Chernov / Shutterstock.com</div></div>Once a modest player in&nbsp;<a target="_blank" href="https://investor.enersys.com/static-files/7964ad43-fad4-4a5c-9098-6d6cddbd81ce">the flooded lead-acid battery market</a>, EnerSys has become a global titan in energy storage solutions, serving giants in renewables, telecom, and more. With a massive clientele of over 10,000 worldwide, the company is a pioneer in providing comprehensive energy systems, including motive power batteries and specialized battery accessories.



Despite the slowdown in its batteries business, the company boasts incredible profitability metrics, with double-digit free-cash-flow (FCF) and EBITDA (TTM) margins.&nbsp; Its FCF, in particular, is at 11%, beating the sector median and&nbsp;<a href="https://seekingalpha.com/symbol/ENS/profitability" target="_blank">its 5-year average by 71%</a>&nbsp;and 215%, respectively.



Furthermore, EnerSys plans to expand its U.S. manufacturing to Greenville, South Carolina, boosted by a $200 million Inflation Reduction Act incentive. Also, its agreement with the European&nbsp;<a target="_blank" href="https://investor.enersys.com/news-releases/news-release-details/enersys-and-verkor-partner-explore-development-lithium-ion">battery tech player</a>&nbsp;in&nbsp;Verkor&nbsp;should help advance its goal of gaining independence from non-domestic suppliers. Hence, with so much to look forward to, EnerSys is one of the top dependable battery stocks, promising robust growth and innovation.



On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor&rsquo;s of science degree in applied accounting from Oxford Brookes University.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/wall-street-favorites-3-battery-stocks-with-strong-buy-ratings-for-april-2024/">Wall Street Favorites: 3 Battery Stocks With Strong Buy Ratings for April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Wall Street Favorites: 3 Battery Stocks With Strong Buy Ratings for April 2024

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ARCB

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