Energy Recovery (NASDAQ:ERII) Rating Reiterated by Evercore ISI

Evercore ISI reiterated their buy rating on shares of Energy Recovery (NASDAQ:ERII) in a research report report published on Thursday morning, AnalystRatings.com reports. They currently have a $18.00 price objective on the industrial products company’s stock.

“We are decreasing our 2019 and 2020 EBITDA estimates to $11.4 million and $39.8 million from $17.9 million and $45.5 million respectively to reflect higher opex expenses than we were previously modeling due to the manufacturing expansion. Recovery, Inc.”,” Evercore ISI’s analyst commented.

Other analysts also recently issued reports about the company. Zacks Investment Research downgraded Energy Recovery from a buy rating to a hold rating in a research note on Tuesday, August 6th. ValuEngine downgraded Energy Recovery from a strong-buy rating to a buy rating in a research note on Thursday, August 1st. TheStreet upgraded Energy Recovery from a c+ rating to a b rating in a research note on Friday, May 3rd. BidaskClub upgraded Energy Recovery from a sell rating to a hold rating in a research note on Wednesday, July 3rd. Finally, B. Riley set a $15.00 price target on Energy Recovery and gave the company a buy rating in a research note on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $14.25.

Shares of NASDAQ:ERII traded down $0.30 during trading on Thursday, reaching $9.70. The company had a trading volume of 142,311 shares, compared to its average volume of 254,811. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.09 and a quick ratio of 4.55. Energy Recovery has a fifty-two week low of $6.17 and a fifty-two week high of $12.04. The company has a market cap of $549.65 million, a price-to-earnings ratio of 43.48 and a beta of 4.32. The firm’s fifty day moving average price is $10.71.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. Energy Recovery had a return on equity of 10.89% and a net margin of 20.21%. The firm had revenue of $22.80 million for the quarter, compared to the consensus estimate of $20.53 million. During the same period in the previous year, the business earned $0.07 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts expect that Energy Recovery will post 0.13 EPS for the current fiscal year.

In other Energy Recovery news, VP Rodney Clemente sold 36,946 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $11.92, for a total transaction of $440,396.32. Following the sale, the vice president now directly owns 81,299 shares in the company, valued at $969,084.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Hans Peter Michelet sold 18,365 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $11.00, for a total value of $202,015.00. Following the sale, the director now owns 18,365 shares in the company, valued at $202,015. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 305,764 shares of company stock worth $3,267,734. 23.80% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc boosted its position in Energy Recovery by 44.4% during the fourth quarter. Legal & General Group Plc now owns 7,455 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 2,294 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Energy Recovery by 53,485.7% during the first quarter. BNP Paribas Arbitrage SA now owns 7,502 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 7,488 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in Energy Recovery by 262.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,783 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 7,083 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Energy Recovery during the second quarter worth $131,000. Finally, ETF Managers Group LLC boosted its position in Energy Recovery by 9.8% during the first quarter. ETF Managers Group LLC now owns 17,413 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 1,548 shares in the last quarter. Institutional investors own 32.02% of the company’s stock.

About Energy Recovery

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for small- to medium-sized desalination plants.

See Also: P/E Growth (PEG)

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