Enviri Corporation (NYSE:NVRI) Stock Has Consensus Target Price of $24.50

Enviri Corporation (NYSE:NVRI) has earned a consensus rating of “Hold” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $24.50.

Several equities analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on Enviri from $21.00 to $24.00 and gave the company a “market perform” rating in a report on Wednesday, August 12th. Wall Street Zen upgraded Enviri from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings cut Enviri from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, October 14th.

Enviri Stock Performance

Shares of Enviri stock opened at $24.92 on Tuesday. The stock’s fifty day simple moving average is $20.54 and its 200 day simple moving average is $20.25. The company has a current ratio of 1.43, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $702.49 million and a PE ratio of -39.56. Enviri has a 12 month low of $11.15 and a 12 month high of $25.01.

Enviri (NYSE:NVRI) last posted its earnings results on Thursday, November 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.38. The business had revenue of $325.03 million during the quarter, compared to analyst estimates of $317.13 million. Enviri’s revenue for the quarter was down 43.5% compared to the same quarter last year. On average, research analysts predict that Enviri will post -1.55 EPS for the current year.

Insider Buying and Selling

In related news, CFO Peter Minan purchased 2,946 shares of Enviri stock in a transaction dated Tuesday, August 18th. The stock was bought at an average price of $20.27 per share, for a total transaction of $59,715.42. Following the completion of the acquisition, the chief financial officer directly owned 97,505 shares of the company’s stock, valued at $1,976,426.35. This represents a 3.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carolann Haznedar purchased 4,875 shares of Enviri stock in a transaction dated Monday, August 17th. The stock was bought at an average price of $20.46 per share, with a total value of $99,742.50. Following the acquisition, the director directly owned 42,955 shares of the company’s stock, valued at approximately $878,859.30. This trade represents a 12.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Hedge Funds Weigh In On Enviri

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Enviri in the 2nd quarter valued at about $45,735,000. OMERS ADMINISTRATION Corp lifted its holdings in shares of Enviri by 183.8% in the first quarter. OMERS ADMINISTRATION Corp now owns 921,561 shares of the company’s stock valued at $18,081,000 after purchasing an additional 596,861 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Enviri by 333.0% during the first quarter. Bank of America Corp DE now owns 912,015 shares of the company’s stock worth $17,894,000 after buying an additional 701,365 shares during the period. Paradigm Capital Management Inc. NY acquired a new position in shares of Enviri during the second quarter worth about $13,320,000. Finally, Principal Financial Group Inc. boosted its position in shares of Enviri by 2.0% during the first quarter. Principal Financial Group Inc. now owns 391,828 shares of the company’s stock worth $7,688,000 after buying an additional 7,631 shares during the period. 93.43% of the stock is owned by institutional investors and hedge funds.

About Enviri

Enviri Corporation (NYSE: NVRI) is an environmental solutions company that provides services and products designed to help industrial, commercial and government customers manage waste, recover materials and improve resource efficiency. The company serves customers in multiple regions, with operations spanning North America, Europe and other international markets.

Enviri’s Harsco Environmental business provides environmental services to the global steel industry. Its activities include the processing and beneficial reuse of steel slag and other byproducts, metal recovery, slag handling, site services and the production of mineral-based products used in areas such as construction and infrastructure.

Through its Clean Earth business, Enviri manages hazardous and non-hazardous waste streams for industrial, healthcare, pharmaceutical, retail and government customers.