Winning ESND Stock Forecast: Essendant Gives Crystal Clear Return Of 36.16% In 14 Days

“We are confident we will deliver more than half of our expected cost savings in 2018, building to a run rate of more than $50 million by 2020. We expect stronger earnings performance in the second half as we fully execute against the strategic drivers we’ve outlined”

– Ric Phillips, President and Chief Executive Officer of Essendant

[Image Source: By Lally54 [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)], from Wikimedia Commons]

Over the 14 days period from May 8th to May 22th, 2018 Essendant’s stock price saw significant price jump of more than 36%. Although, the overall ESND stock performance indicators for the last quarter suggest that this may not be the best stock pick for investors because it missed the analysts’ earnings expectations, it is still interesting from M&A perspective. Based on the press release on May 16, 2018 the company received the merger proposal from Staples Inc. to acquire all shares of Essendant stock for $11.50 per share in cash. The market’s reaction was immediate and investors observed ESND stock growth resulting in 36.16% during the above-mentioned period. The below chart illustrates this:

 

On May 8, 2018, I Know First issued a bullish 14 days forecast for Essendant (NASDAQ: ESND). The forecast illustrated a signal of 56.12 and a predictability of 0.14. In accordance with the forecast, ESND stock returned 36.16% over this period, highlighting the accuracy of the prediction produced by the I Know First algorithm.

Current I Know First subscribers received this bullish ESND forecast on May 8, 2018.

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Essendant Inc. (NASDAQ: ESND) operates as a distributor of workplace items in the United States and internationally. It offers janitorial and sanitation supplies, breakroom items, foodservice consumables, safety and security items, and paper and packaging supplies. The company also provides technology products, such as computer accessories, imaging supplies, and data storage products; and computer hardware, including printers and other peripherals. In addition, it offers traditional office products, including writing instruments, business machines, filing and record storage products, presentation products, shipping and mailing supplies, calendars, and general office accessories; and industrial supplies, such as hand and power tools, safety and security supplies, janitorial equipment, and oilfield and welding supplies, as well as industrial maintenance, repair, and operations items. Further, the company provides cut sheet paper products; automotive products; and desks, filing and storage solutions, and seating and systems furniture, as well as various products for education, government, healthcare, and professional services markets. It serves office and workplace dealers; facilities and maintenance distributors; technology, military, automotive aftermarket, healthcare, and other vertical suppliers; industrial resellers; national resellers; and resellers in the e-commerce channel. Essendant Inc. distributes its products through 70 distribution centers to approximately 29,000 reseller customers, as well as through online. The company was formerly known as United Stationers Inc. and changed its name to Essendant Inc. in June 2015. Essendant Inc. was founded in 1922 and is headquartered in Deerfield, Illinois.

Disclaimer

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.