Energy Recovery, Inc. (NASDAQ:ERII)‘s stock had its “buy” rating reiterated by stock analysts at FBR & Co in a note issued to investors on Monday. They currently have a $16.00 price target on the stock. FBR & Co’s target price would suggest a potential upside of 91.85% from the stock’s current price.
The analysts wrote, “Heading into the NDR that FBR will host this week with President and CEO Joel Gay, CFO Chris Gannon, and Managing Director, IR and Corporate Development Brian Uhlmer, we are updating our model for 4Q16 results (our annual EPS/EBITDA are unchanged) and highlighting several topics for ERII’s oil & gas division that our meetings should delve into and further explicate. We believe 2017 will reaffirm ERII’s extraordinary oil & gas growth potential and that the stock is offering compelling risk/reward at its current level.””
ERII has been the subject of several other research reports. Zacks Investment Research downgraded shares of Energy Recovery from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 4th. Stephens initiated coverage on shares of Energy Recovery in a research note on Wednesday, January 11th. They issued a “buy” rating and a $18.00 price target for the company. Evercore ISI restated an “outperform” rating and issued a $20.00 price target on shares of Energy Recovery in a research note on Wednesday, March 15th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $20.00 price target on shares of Energy Recovery in a research note on Saturday, March 11th. Six analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $17.29.
Shares of Energy Recovery (NASDAQ:ERII) traded up 1.44% during trading on Monday, reaching $8.46. The company had a trading volume of 436,832 shares. Energy Recovery has a 1-year low of $7.22 and a 1-year high of $16.67. The firm has a 50-day moving average of $9.14 and a 200 day moving average of $11.45. The firm has a market capitalization of $455.82 million, a PE ratio of 423.00 and a beta of 4.86.
Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, March 8th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.03. The business earned $17.90 million during the quarter, compared to the consensus estimate of $13.15 million. Energy Recovery had a negative net margin of 3.60% and a positive return on equity of 3.64%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. Analysts expect that Energy Recovery will post $0.75 earnings per share for the current year.
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In other news, Director Robert Yu Lang Mao bought 20,000 shares of the stock in a transaction that occurred on Tuesday, March 14th. The stock was purchased at an average price of $7.53 per share, for a total transaction of $150,600.00. Following the completion of the purchase, the director now owns 142,361 shares in the company, valued at approximately $1,071,978.33. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 26.70% of the company’s stock.
Several institutional investors have recently modified their holdings of ERII. Russell Investments Group Ltd. purchased a new position in shares of Energy Recovery during the fourth quarter worth approximately $127,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Energy Recovery by 36.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,385 shares of the company’s stock worth $159,000 after buying an additional 4,100 shares during the last quarter. Quantbot Technologies LP increased its position in shares of Energy Recovery by 1,201.5% in the third quarter. Quantbot Technologies LP now owns 10,256 shares of the company’s stock worth $163,000 after buying an additional 9,468 shares during the last quarter. Parallel Advisors LLC purchased a new position in shares of Energy Recovery during the fourth quarter worth approximately $180,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Energy Recovery during the third quarter worth approximately $185,000. Hedge funds and other institutional investors own 31.88% of the company’s stock.
Energy Recovery Company Profile
Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. It operates through two segments: Water, and Oil & Gas. Its Water Segment focuses on products sold for use in reverse osmosis water desalination.
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