CES Energy Solutions (TSE:CEU) Stock Rating Upgraded by BMO Capital Markets

CES Energy Solutions (TSE:CEU) was upgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has a C$22.00 target price on the stock, up from their prior target price of C$21.00. BMO Capital Markets’ target price indicates a potential upside of 36.31% from the company’s current price.

Several other equities research analysts also recently issued reports on CEU. National Bank Financial downgraded CES Energy Solutions from an “outperform” rating to a “sector perform” rating and set a C$20.00 price objective for the company. in a research note on Wednesday, May 13th. TD lifted their target price on CES Energy Solutions from C$18.00 to C$19.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Royal Bank Of Canada upped their target price on CES Energy Solutions from C$20.00 to C$22.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Finally, Raymond James Financial raised their price target on shares of CES Energy Solutions from C$15.00 to C$21.00 in a report on Thursday, March 12th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$19.06.

CES Energy Solutions Trading Up 1.7%

Shares of CES Energy Solutions stock traded up C$0.27 during trading on Wednesday, hitting C$16.14. The stock had a trading volume of 468,158 shares, compared to its average volume of 845,385. The stock has a 50 day simple moving average of C$17.70 and a 200 day simple moving average of C$16.06. The company has a market capitalization of C$3.40 billion, a PE ratio of 16.64, a P/E/G ratio of 0.61 and a beta of 0.52. The company has a quick ratio of 1.78, a current ratio of 2.75 and a debt-to-equity ratio of 55.71. CES Energy Solutions has a 1 year low of C$6.51 and a 1 year high of C$19.58.

CES Energy Solutions (TSE:CEU) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$0.24 EPS for the quarter. CES Energy Solutions had a net margin of 8.29% and a return on equity of 26.01%. The business had revenue of C$681.51 million during the quarter. On average, research analysts expect that CES Energy Solutions will post 0.8600646 EPS for the current fiscal year.

Insider Transactions at CES Energy Solutions

In other news, insider Kenneth Earl Zinger purchased 10,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of C$15.00 per share, with a total value of C$150,000.00. Following the purchase, the insider directly owned 1,682,857 shares of the company’s stock, valued at approximately C$25,242,855. This trade represents a 0.60% increase in their ownership of the stock. Also, Director John Michael Hooks sold 133,800 shares of CES Energy Solutions stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of C$18.92, for a total value of C$2,531,496.00. Following the sale, the director owned 902,565 shares of the company’s stock, valued at approximately C$17,076,529.80. This represents a 12.91% decrease in their ownership of the stock. 3.03% of the stock is owned by company insiders.

About CES Energy Solutions

CES is a leading provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and finally through to the pipeline and midstream market. CES’ business model is relatively asset light and requires limited re-investment capital to grow. As a result, CES has been able to capitalize on the growing market demand for drilling fluids and production and specialty chemicals in North America while generating free cash flow.