Zacks Investment Research Downgrades Advanced Emissions Solutions, Inc. (ADES) to Hold
Advanced Emissions Solutions, Inc. (NASDAQ:ADES) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “Advanced Emissions Solutions, Inc. develops, offers and implements environmental technologies, equipment and specialty chemicals that enable coal-fueled power plants to meet emissions regulations. It operates in three principal business segments: Refined Coal, Emissions Control and CO2 capture. The company also offers dry sorbent injection systems to control SO2 and acid gases. It operates primarily in the United States along with its subsidiaries. Advanced Emissions Solutions, Inc. formerly known as ADA-ES, Inc., is based in Highlands Ranch, Colorado. “
Several other research firms have also commented on ADES. HC Wainwright set a $18.00 price target on shares of Advanced Emissions Solutions and gave the company a “buy” rating in a research report on Wednesday, August 9th. TheStreet lowered shares of Advanced Emissions Solutions from a “b-” rating to a “c+” rating in a research report on Monday, June 5th. Finally, ValuEngine lowered shares of Advanced Emissions Solutions from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Advanced Emissions Solutions presently has a consensus rating of “Buy” and an average price target of $16.00.
Advanced Emissions Solutions (ADES) traded down 0.98% during mid-day trading on Monday, reaching $10.11. 155,069 shares of the company’s stock were exchanged. Advanced Emissions Solutions has a one year low of $6.40 and a one year high of $12.25. The firm has a market capitalization of $210.24 million, a P/E ratio of 2.25 and a beta of 2.85. The company’s 50-day moving average is $9.81 and its 200 day moving average is $9.88.
Advanced Emissions Solutions announced that its board has approved a stock buyback plan on Monday, May 8th that permits the company to buyback $9.99 million in shares. This buyback authorization permits the industrial products company to purchase shares of its stock through a tender offer. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
In other Advanced Emissions Solutions news, Director Alan Bradley Gabbard sold 4,700 shares of the stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $9.21, for a total transaction of $43,287.00. Following the completion of the sale, the director now directly owns 41,638 shares of the company’s stock, valued at $383,485.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.49% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ADES. Rhumbline Advisers purchased a new stake in Advanced Emissions Solutions during the second quarter valued at approximately $211,000. Schwab Charles Investment Management Inc. purchased a new stake in Advanced Emissions Solutions during the second quarter valued at approximately $325,000. Goldman Sachs Group Inc. purchased a new stake in Advanced Emissions Solutions during the first quarter valued at approximately $859,000. BlueCrest Capital Management Ltd purchased a new stake in Advanced Emissions Solutions during the first quarter valued at approximately $140,000. Finally, Apollo Management Holdings L.P. raised its stake in Advanced Emissions Solutions by 397.3% in the first quarter. Apollo Management Holdings L.P. now owns 250,000 shares of the industrial products company’s stock valued at $2,385,000 after buying an additional 199,730 shares during the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.
Advanced Emissions Solutions Company Profile
ADA-ES, Inc (ADA) develops, offers, and implements environmental technologies and provides equipment and specialty chemicals that enable coal-fueled power plants to meet emissions regulations by enhancing existing air pollution control equipment. ADA’s wholly owned subsidiaries include Advanced Emissions Solutions, Inc, ADA Intellectual Property, LLC and ADA Environmental Solutions, LLC.
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