Energy Recovery, Inc. (NASDAQ:ERII) Given Consensus Rating of “Buy” by Analysts

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have earned a consensus recommendation of “Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, two have given a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $18.88.

ERII has been the topic of a number of recent research reports. Fearnley Fonds raised shares of Energy Recovery from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 20th. B. Riley downgraded shares of Energy Recovery from a “buy” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $12.50 in a report on Thursday, May 8th. Finally, Wall Street Zen cut Energy Recovery from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th.

Energy Recovery Trading Up 0.9%

Shares of ERII stock opened at $12.56 on Friday. The stock has a market capitalization of $684.51 million, a price-to-earnings ratio of 36.94 and a beta of 1.09. Energy Recovery has a 12-month low of $10.86 and a 12-month high of $20.27. The stock’s 50-day moving average price is $14.65 and its 200-day moving average price is $15.23.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). The firm had revenue of $8.07 million during the quarter, compared to the consensus estimate of $21.97 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business’s revenue was down 33.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) EPS. As a group, research analysts predict that Energy Recovery will post 0.36 EPS for the current fiscal year.

Insider Activity

In related news, Director Arve Hanstveit sold 50,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total transaction of $817,000.00. Following the transaction, the director now directly owns 693,182 shares in the company, valued at approximately $11,326,593.88. This represents a 6.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pamela L. Tondreau acquired 4,200 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was purchased at an average cost of $12.28 per share, with a total value of $51,576.00. Following the purchase, the director now owns 41,043 shares of the company’s stock, valued at $504,008.04. The trade was a 11.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Energy Recovery

A number of large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. increased its stake in Energy Recovery by 24.6% in the fourth quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company’s stock worth $72,823,000 after purchasing an additional 978,490 shares during the period. Select Equity Group L.P. grew its holdings in shares of Energy Recovery by 403.5% in the first quarter. Select Equity Group L.P. now owns 667,157 shares of the industrial products company’s stock worth $10,601,000 after purchasing an additional 534,662 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Energy Recovery in the 4th quarter worth about $5,741,000. KLP Kapitalforvaltning AS bought a new stake in Energy Recovery during the 4th quarter valued at about $4,670,000. Finally, Duff & Phelps Investment Management Co. bought a new stake in Energy Recovery during the 4th quarter valued at about $3,798,000. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.