CES Energy Solutions (TSE:CEU) Stock Rating Lowered by ATB Cormark Capital Markets

CES Energy Solutions (TSE:CEU) was downgraded by analysts at ATB Cormark Capital Markets from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Monday, BayStreet reports. They presently have a C$23.50 price objective on the stock, up from their previous price objective of C$21.00. ATB Cormark Capital Markets‘s target price would suggest a potential upside of 14.47% from the company’s previous close.

Several other research analysts have also weighed in on CEU. Raymond James Financial raised their price objective on shares of CES Energy Solutions from C$23.00 to C$25.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. National Bank Financial raised shares of CES Energy Solutions from a “hold” rating to an “outperform” rating and set a C$20.00 price target on the stock in a research report on Friday, August 7th. Scotia boosted their price objective on CES Energy Solutions from C$21.00 to C$22.00 and gave the company a “sector outperform” rating in a report on Monday, August 10th. Finally, TD upped their price objective on CES Energy Solutions from C$18.00 to C$19.00 and gave the company a “hold” rating in a research note on Tuesday, October 20th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$21.06.

CES Energy Solutions Stock Up 2.4%

Shares of CEU traded up C$0.49 during trading on Monday, reaching C$20.53. The company’s stock had a trading volume of 178,389 shares, compared to its average volume of 739,343. The company has a market cap of C$4.31 billion, a price-to-earnings ratio of 22.32, a P/E/G ratio of 0.61 and a beta of 0.94. The company has a quick ratio of 1.78, a current ratio of 2.70 and a debt-to-equity ratio of 55.36. The company has a fifty day moving average of C$18.98 and a two-hundred day moving average of C$17.95. CES Energy Solutions has a twelve month low of C$9.17 and a twelve month high of C$20.83.

CES Energy Solutions (TSE:CEU) last released its quarterly earnings results on Thursday, August 6th. The company reported C$0.18 earnings per share for the quarter. The business had revenue of C$714.08 million during the quarter. CES Energy Solutions had a net margin of 7.36% and a return on equity of 23.68%. On average, sell-side analysts predict that CES Energy Solutions will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling at CES Energy Solutions

In other news, Director John Michael Hooks sold 78,700 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of C$19.10, for a total value of C$1,503,170.00. Following the transaction, the director directly owned 787,351 shares in the company, valued at approximately C$15,038,404.10. This trade represents a 9.09% decrease in their position. Company insiders own 3.03% of the company’s stock.

About CES Energy Solutions

CES is a leading provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and finally through to the pipeline and midstream market. CES’ business model is relatively asset light and requires limited re-investment capital to grow. As a result, CES has been able to capitalize on the growing market demand for drilling fluids and production and specialty chemicals in North America while generating free cash flow.