FBR & Co Reiterates $16.00 Price Target for Energy Recovery, Inc. (ERII)
ERII has been the topic of a number of other research reports. Jefferies Group LLC reiterated a buy rating and set a $17.00 price target (down previously from $20.00) on shares of Energy Recovery in a report on Wednesday, August 9th. Zacks Investment Research cut shares of Energy Recovery from a buy rating to a hold rating in a report on Monday, May 8th. Finally, BidaskClub cut shares of 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, one has assigned a hold rating and five have assigned a buy rating to the stock. Energy Recovery presently has an average rating of Buy and an average price target of $16.92.
Energy Recovery (ERII) opened at 6.47 on Monday. The firm has a market capitalization of $346.64 million, a PE ratio of 223.10 and a beta of 5.51. The stock’s 50 day moving average price is $7.16 and its 200 day moving average price is $7.94. Energy Recovery has a 52-week low of $6.13 and a 52-week high of $16.67.
Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported ($0.01) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.01). Energy Recovery had a net margin of 3.07% and a return on equity of 2.43%. The firm had revenue of $12.20 million for the quarter, compared to analysts’ expectations of $14.99 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, analysts predict that Energy Recovery will post $0.35 EPS for the current fiscal year.
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A number of large investors have recently modified their holdings of ERII. Schwab Charles Investment Management Inc. boosted its stake in shares of Energy Recovery by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 119,212 shares of the industrial products company’s stock valued at $989,000 after buying an additional 741 shares in the last quarter. Chicago Equity Partners LLC boosted its stake in shares of Energy Recovery by 1.5% in the first quarter. Chicago Equity Partners LLC now owns 60,755 shares of the industrial products company’s stock valued at $505,000 after buying an additional 910 shares in the last quarter. American International Group Inc. boosted its stake in shares of Energy Recovery by 7.1% in the first quarter. American International Group Inc. now owns 21,200 shares of the industrial products company’s stock valued at $176,000 after buying an additional 1,399 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Energy Recovery by 7.3% in the second quarter. Rhumbline Advisers now owns 40,107 shares of the industrial products company’s stock valued at $332,000 after buying an additional 2,712 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Energy Recovery by 4.4% in the second quarter. Teachers Advisors LLC now owns 68,641 shares of the industrial products company’s stock valued at $569,000 after buying an additional 2,887 shares in the last quarter. Institutional investors own 33.71% 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. 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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