Energy Recovery PT Set at $8.00 by Jefferies Group (ERII)
Equities researchers at Jefferies Group set a $8.00 price target on shares of Energy Recovery (NASDAQ:ERII) stock in a research report issued on Monday, Stock Ratings Network.com reports. The firm currently has a a “hold” rating on the stock. Jefferies Group’s price target indicates a potential upside of 12.36% from the company’s current price.
The analysts wrote, “Recipe for another triple: High incremental margins (>50%?), limited expected capex (25% utilization rate), rapid growth in its core market (desal installations could expand 2x-3x in 5 years), and broad themes (‘harvesting fluid pressure’ in high-pressure and toxic environments). What is missing? 4-6 quarters of execution, proving profitability and evidence it can forestall competitors. Reiterate Hold.”
A number of other firms have also recently commented on ERII. Analysts at Macquarie raised their price target on shares of Energy Recovery (NASDAQ:ERII) from $3.60 to $4.80 in a research note to investors on Thursday, August 29th. They now have a “neutral” rating on the stock. Separately, analysts at Zacks upgraded shares of Energy Recovery (NASDAQ:ERII) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, August 6th. They now have a $4.80 price target on the stock. Finally, analysts at Zacks downgraded shares of Energy Recovery (NASDAQ:ERII) from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, July 2nd. They now have a $4.00 price target on the stock. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $4.82.
Shares of Energy Recovery (NASDAQ:ERII) traded down 0.56% on Monday, hitting $7.08. 48,564 shares of the company’s stock traded hands. Energy Recovery has a 52 week low of $2.40 and a 52 week high of $7.75. The stock’s 50-day moving average is $5.80 and its 200-day moving average is $4.41. The company’s market cap is $361.3 million.
Energy Recovery (NASDAQ:ERII) last released its earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.03. The company had revenue of $8.57 million for the quarter, compared to the consensus estimate of $7.97 million. During the same quarter last year, the company posted $0.01 earnings per share. Energy Recovery’s revenue was down 30.3% compared to the same quarter last year. Analysts expect that Energy Recovery will post $-0.07 EPS for the current fiscal year.
Energy Recovery, Inc is engaged in developing, manufacturing and selling of energy recovery devices and circulation pumps primarily for uses in seawater desalination plants that use reverse osmosis technology.
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