Brokerages Set Energy Recovery, Inc. (NASDAQ:ERII) Price Target at $14.20

Energy Recovery, Inc. (NASDAQ:ERII) has been given a consensus recommendation of “Buy” by the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $14.20.

A number of brokerages recently issued reports on ERII. Zacks Investment Research upgraded shares of Energy Recovery from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Friday, November 8th. BidaskClub raised Energy Recovery from a “sell” rating to a “hold” rating in a report on Friday, December 13th. JMP Securities set a $15.00 price target on Energy Recovery and gave the company a “buy” rating in a research report on Thursday, October 10th. Raymond James assumed coverage on Energy Recovery in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $12.00 price target for the company. Finally, ValuEngine downgraded Energy Recovery from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th.

Energy Recovery stock traded down $0.03 during midday trading on Tuesday, reaching $10.36. The company’s stock had a trading volume of 2,699 shares, compared to its average volume of 139,824. The company has a current ratio of 4.32, a quick ratio of 4.01 and a debt-to-equity ratio of 0.09. The stock has a market cap of $572.10 million, a PE ratio of 41.36 and a beta of 4.20. Energy Recovery has a 52 week low of $7.12 and a 52 week high of $12.04. The business has a 50-day moving average price of $9.67 and a 200-day moving average price of $9.68.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.04. The company had revenue of $24.90 million during the quarter, compared to the consensus estimate of $22.01 million. Energy Recovery had a net margin of 18.65% and a return on equity of 9.95%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 earnings per share. As a group, research analysts predict that Energy Recovery will post 0.17 EPS for the current fiscal year.

In other news, Director Arve Hanstveit sold 39,787 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $8.78, for a total value of $349,329.86. Also, VP Eric Siebert sold 11,354 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $10.51, for a total value of $119,330.54. Following the completion of the transaction, the vice president now directly owns 72,236 shares in the company, valued at $759,200.36. The disclosure for this sale can be found here. Insiders have sold 218,075 shares of company stock worth $1,936,461 in the last ninety days. Insiders own 23.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of ERII. California Public Employees Retirement System increased its stake in shares of Energy Recovery by 13.6% in the 3rd quarter. California Public Employees Retirement System now owns 52,627 shares of the industrial products company’s stock valued at $488,000 after acquiring an additional 6,300 shares in the last quarter. Metropolitan Life Insurance Co NY increased its stake in Energy Recovery by 29.2% in the third quarter. Metropolitan Life Insurance Co NY now owns 12,593 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 2,843 shares in the last quarter. State Street Corp raised its holdings in shares of Energy Recovery by 1.7% during the third quarter. State Street Corp now owns 715,974 shares of the industrial products company’s stock valued at $6,633,000 after purchasing an additional 11,777 shares during the period. Morgan Stanley raised its holdings in shares of Energy Recovery by 85.2% during the second quarter. Morgan Stanley now owns 278,187 shares of the industrial products company’s stock valued at $2,899,000 after purchasing an additional 127,992 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Energy Recovery by 18.6% during the 2nd quarter. Wells Fargo & Company MN now owns 28,924 shares of the industrial products company’s stock worth $301,000 after purchasing an additional 4,542 shares in the last quarter. Institutional investors and hedge funds own 34.56% of the company’s stock.

About Energy Recovery

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for small- to medium-sized desalination plants.

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