CES Energy Solutions (TSE:CEU) Upgraded at National Bank Financial

CES Energy Solutions (TSE:CEU) was upgraded by National Bank Financial from a “sector perform” rating to an “outperform” rating in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a C$20.00 price target on the stock. National Bank Financial’s target price would indicate a potential upside of 7.70% from the company’s current price.

CEU has been the topic of a number of other reports. BMO Capital Markets raised CES Energy Solutions from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$21.00 to C$22.00 in a report on Wednesday, June 24th. TD reduced their price objective on shares of CES Energy Solutions from C$19.00 to C$18.00 and set a “hold” rating for the company in a report on Monday, July 13th. Finally, Royal Bank Of Canada increased their target price on shares of CES Energy Solutions from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, CES Energy Solutions has an average rating of “Moderate Buy” and a consensus target price of C$18.94.

CES Energy Solutions Stock Performance

CEU traded up C$2.13 during trading hours on Friday, hitting C$18.57. The company’s stock had a trading volume of 920,431 shares, compared to its average volume of 785,141. CES Energy Solutions has a fifty-two week low of C$7.16 and a fifty-two week high of C$19.58. The company has a current ratio of 2.75, a quick ratio of 1.78 and a debt-to-equity ratio of 55.71. The firm has a market capitalization of C$3.92 billion, a PE ratio of 19.14, a PEG ratio of 0.61 and a beta of 0.50. The company has a 50-day simple moving average of C$16.60 and a 200 day simple moving average of C$16.97.

CES Energy Solutions (TSE:CEU) last announced its earnings results on Thursday, May 7th. The company reported C$0.24 earnings per share for the quarter. CES Energy Solutions had a return on equity of 26.01% and a net margin of 8.29%.The firm had revenue of C$681.51 million for the quarter. As a group, sell-side analysts expect that CES Energy Solutions will post 0.8600646 EPS for the current year.

Insider Activity

In other news, insider David Allyn Burroughs sold 28,815 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of C$16.04, for a total value of C$462,192.60. Also, insider Matthew Stephen Bell sold 26,840 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of C$16.04, for a total value of C$430,513.60. Following the completion of the sale, the insider owned 17,000 shares of the company’s stock, valued at approximately C$272,680. This trade represents a 61.22% decrease in their position. Insiders sold a total of 205,683 shares of company stock worth $3,684,499 in the last quarter. 3.03% of the stock is currently owned by corporate 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.