NEW YORK (TheStreet) -- Shares of Energizer Holdings Inc (ENR) are down 0.88% to $137.69 in mid-morning trading Thursday, after analysts at Morgan Stanley downgraded the battery company earlier today.
The firm lowered its rating on shares of Energizer to "equal weight" from "overweight", following its outperformance and multiple expansion over the last few quarters.
The firm also reduced its price target to $140 from $146, citing negative foreign exchange impacts and lower EBITDA estimates.
St. Louis-based Energizer is the manufacturer and marketer of primary batteries, portable lighting and personal care products in the wet shave, skin care, feminine care and infant care categories.
The company manufactures and sells products in six product categories including wet shave, skin care, feminine care, infant care, battery and portable lighting products.
Separately, TheStreet Ratings team rates ENERGIZER HOLDINGS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ENERGIZER HOLDINGS INC (ENR) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its expanding profit margins, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: