Energy Recovery, Inc. (ERII) Price Target Raised to $20.00
Energy Recovery, Inc. (NASDAQ:ERII) had its price target raised by B. Riley from $16.00 to $20.00 in a research note published on Wednesday morning, StockTargetPrices.com reports. B. Riley currently has a buy rating on the industrial products company’s stock. B. Riley also issued estimates for Energy Recovery’s Q4 2017 earnings at $0.41 EPS, FY2017 earnings at $0.43 EPS, Q2 2018 earnings at $0.37 EPS and Q3 2018 earnings at $0.05 EPS.
Several other equities analysts have also issued reports on the company. Seaport Global Securities initiated coverage on Energy Recovery in a report on Tuesday, October 17th. They set a buy rating and a $17.00 price objective on the stock. JMP Securities initiated coverage on Energy Recovery in a report on Tuesday, September 5th. They set an outperform rating and a $12.00 price objective on the stock. Capital One Financial Corporation initiated coverage on Energy Recovery in a report on Thursday, September 7th. They set an overweight rating and a $16.00 price objective on the stock. FBR & Co set a $16.00 price objective on Energy Recovery and gave the stock a buy rating in a report on Monday, August 28th. Finally, BidaskClub lowered Energy Recovery from a hold rating to a sell rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Energy Recovery presently has a consensus rating of Buy and a consensus price target of $17.00.
Shares of Energy Recovery (NASDAQ:ERII) traded down $0.08 during mid-day trading on Wednesday, hitting $9.48. The company’s stock had a trading volume of 848,500 shares, compared to its average volume of 427,388. The stock has a market capitalization of $512.37, a price-to-earnings ratio of 136.57, a price-to-earnings-growth ratio of 1.93 and a beta of 5.60. Energy Recovery has a 12 month low of $6.13 and a 12 month high of $12.73.
Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.31). The firm had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $14.64 million. Energy Recovery had a return on equity of 5.75% and a net margin of 7.78%. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.01) EPS. equities research analysts forecast that Energy Recovery will post 0.33 earnings per share for the current fiscal year.
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In related news, Director Olav Fjell purchased 18,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were purchased at an average price of $7.08 per share, with a total value of $127,440.00. Following the completion of the acquisition, the director now directly owns 18,000 shares in the company, valued at approximately $127,440. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 23.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. grew its holdings in shares of Energy Recovery by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 119,212 shares of the industrial products company’s stock worth $989,000 after buying an additional 741 shares during the last quarter. American International Group Inc. grew its holdings in shares of Energy Recovery by 7.1% during the first quarter. American International Group Inc. now owns 21,200 shares of the industrial products company’s stock worth $176,000 after buying an additional 1,399 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Energy Recovery by 7.3% during the second quarter. Rhumbline Advisers now owns 40,107 shares of the industrial products company’s stock worth $332,000 after buying an additional 2,712 shares during the last quarter. Teachers Advisors LLC grew its holdings in shares of Energy Recovery by 4.4% during the second quarter. Teachers Advisors LLC now owns 68,641 shares of the industrial products company’s stock worth $569,000 after buying an additional 2,887 shares during the last quarter. Finally, Harbour Capital Advisors LLC boosted its holdings in Energy Recovery by 729.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 3,316 shares of the industrial products company’s stock valued at $400,000 after purchasing an additional 2,916 shares in the last quarter. 33.84% of the stock is currently owned by hedge funds and other institutional investors.
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. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.
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