Ennis beats Q3 revenue estimate, profit margin improves
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Ennis Inc. reported a 0.4% year-over-year increase in Q3 revenue, beating EPS estimates. The company completed the acquisition of CFC Print & Mail, contributing $5.8 million to revenue. Gross profit margin improved due to operational efficiencies and favorable acquisition margins. Ennis expects improved cash flow and no supply disruptions from transitioning to alternative carbonless paper sources. Future share repurchases will depend on market conditions. The sole analyst rates the stock as a 'strong buy' with a 12-month price target of $23.00, 27.3% above the current price.
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