Energy Recovery, Inc. (ERII) Given Average Rating of “Buy” by Brokerages
Energy Recovery, Inc. (NASDAQ:ERII) has been given a consensus rating of “Buy” by the eleven brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $17.14.
A number of research analysts recently issued reports on the company. B. Riley reiterated a “buy” rating and set a $20.00 price objective (up from $16.00) on shares of Energy Recovery in a research note on Wednesday, November 1st. Jefferies Group reiterated a “buy” rating and set a $17.00 price objective (down from $20.00) on shares of Energy Recovery in a research note on Wednesday, August 9th. FBR & Co reiterated a “buy” rating on shares of Energy Recovery in a research note on Wednesday, October 11th. ValuEngine upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Capital One Financial assumed coverage on Energy Recovery in a research note on Thursday, September 7th. They set an “overweight” rating and a $16.00 price objective for the company.
In related news, VP Andrew B. Stroud, Jr. sold 7,117 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $11.00, for a total value of $78,287.00. Following the transaction, the vice president now directly owns 32,398 shares of the company’s stock, valued at approximately $356,378. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Olav Fjell purchased 18,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was acquired at an average cost of $7.08 per share, for a total transaction of $127,440.00. Following the completion of the acquisition, the director now owns 18,000 shares in the company, valued at approximately $127,440. The disclosure for this purchase can be found here. Insiders own 23.60% of the company’s stock.
Energy Recovery (NASDAQ:ERII) traded up $0.20 during trading on Thursday, hitting $10.30. The company’s stock had a trading volume of 287,454 shares, compared to its average volume of 423,147. The company has a market cap of $555.78, a P/E ratio of 148.14, a P/E/G ratio of 2.09 and a beta of 5.73. Energy Recovery has a 1-year low of $6.13 and a 1-year high of $12.73.
Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.31). The firm had revenue of $15.08 million for the quarter, compared to the consensus estimate of $14.64 million. Energy Recovery had a net margin of 7.78% and a return on equity of 5.75%. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. sell-side analysts expect that Energy Recovery will post 0.33 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “Energy Recovery, Inc. (ERII) Given Average Rating of “Buy” by Brokerages” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/12/07/energy-recovery-inc-erii-given-average-rating-of-buy-by-brokerages.html.
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.
Receive News & Ratings for Energy Recovery Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Recovery Inc. and related companies with MarketBeat.com's FREE daily email newsletter.