Ennis, Inc. (EBF, Financial) has announced the acquisition of Northeastern Envelope, a well-established envelope manufacturer based in Old Forge, Pennsylvania. Founded in 1966, Northeastern Envelope specializes in producing a wide range of envelopes, including both custom and standard formats. The company is notable for its substantial inventory of double and single window envelopes, which enables them to offer same-day shipping.
This acquisition is intended to bolster Ennis’ presence in the envelope manufacturing industry by integrating Northeastern's facilities with its own, which already include Wisco Envelopes and National Imprint. This strategic move enhances Ennis’ envelope converting and printing operations in a region that provides significant service to many of its customers.
Keith Walters, Chairman, President, and CEO of Ennis, expressed his enthusiasm for the acquisition, highlighting the strong reputation of Northeastern Envelope and the Burke family within the industry. Walters extended a warm welcome to the new employees and customers joining the Ennis family as a result of this acquisition.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 1 analysts, the average target price for Ennis Inc (EBF, Financial) is $25.00 with a high estimate of $25.00 and a low estimate of $25.00. The average target implies an upside of 29.47% from the current price of $19.31. More detailed estimate data can be found on the Ennis Inc (EBF) Forecast page.
Based on the consensus recommendation from 1 brokerage firms, Ennis Inc's (EBF, Financial) average brokerage recommendation is currently 1.0, indicating "Buy" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Ennis Inc (EBF, Financial) in one year is $21.18, suggesting a upside of 9.68% from the current price of $19.31. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Ennis Inc (EBF) Summary page.
