Energy Recovery Upgraded to Outperform by Zacks (ERII)
Energy Recovery (NASDAQ:ERII) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Tuesday, American Banking News.com reports. The firm currently has a $5.80 price objective on the stock. Zacks‘s price objective suggests a potential upside of 7.41% from the stock’s previous close.
Shares of Energy Recovery (NASDAQ:ERII) remained flat at $5.40 during during mid-day trading trading on Tuesday. 442,533 shares of the company’s stock traded hands. Energy Recovery has a one year low of $3.47 and a one year high of $7.75. The stock has a 50-day moving average of $5.20 and a 200-day moving average of $5.10. The company’s market cap is $277.9 million.
Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, March 5th. The company reported $0.13 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.08 by $0.05. The company had revenue of $23.24 million for the quarter, compared to the consensus estimate of $21.37 million. During the same quarter last year, the company posted ($0.02) earnings per share. Energy Recovery’s revenue was up 54.1% compared to the same quarter last year. On average, analysts predict that Energy Recovery will post $0.01 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ERII. Analysts at TheStreet upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Sunday, March 16th. Separately, analysts at Credit Suisse raised their price target on shares of Energy Recovery from $5.00 to $6.50 in a research note on Tuesday, March 11th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.52.
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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