Advanced Emissions Solutions (NASDAQ:ADES) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, March 15th. The brokerage presently has a $12.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 8.40% from the stock’s current price.
According to Zacks, “Advanced Emissions Solutions, Inc. develops, offers and implements environmental technologies, equipment and specialty chemicals that enable coal-fueled power plants to meet emissions regulations. It operates in three principal business segments: Refined Coal, Emissions Control and CO2 capture. The company also offers dry sorbent injection systems to control SO2 and acid gases. It operates primarily in the United States along with its subsidiaries. Advanced Emissions Solutions, Inc. formerly known as ADA-ES, Inc., is based in Highlands Ranch, Colorado. “
A number of other analysts have also recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Advanced Emissions Solutions in a research note on Wednesday, March 14th. ValuEngine cut shares of Advanced Emissions Solutions from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Strong Buy” and an average target price of $16.67.
Shares of NASDAQ ADES traded down $0.04 during mid-day trading on Thursday, reaching $11.07. 184,583 shares of the company were exchanged, compared to its average volume of 174,663. The stock has a market cap of $229.74, a PE ratio of 7.10 and a beta of 1.63. Advanced Emissions Solutions has a twelve month low of $7.00 and a twelve month high of $12.20.
Advanced Emissions Solutions declared that its board has approved a share repurchase program on Monday, March 26th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC bought a new position in Advanced Emissions Solutions during the fourth quarter worth about $160,000. The Manufacturers Life Insurance Company increased its position in Advanced Emissions Solutions by 13,343.1% during the second quarter. The Manufacturers Life Insurance Company now owns 17,476 shares of the industrial products company’s stock worth $160,000 after acquiring an additional 17,346 shares during the period. New York State Common Retirement Fund bought a new position in Advanced Emissions Solutions during the second quarter worth about $205,000. Dimensional Fund Advisors LP bought a new position in Advanced Emissions Solutions during the third quarter worth about $206,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Advanced Emissions Solutions during the third quarter worth about $244,000. 70.73% of the stock is currently owned by institutional investors and hedge funds.
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Advanced Emissions Solutions Company Profile
ADA-ES, Inc (ADA) develops, offers, and implements environmental technologies and provides equipment and specialty chemicals that enable coal-fueled power plants to meet emissions regulations by enhancing existing air pollution control equipment. ADA’s wholly owned subsidiaries include Advanced Emissions Solutions, Inc, ADA Intellectual Property, LLC and ADA Environmental Solutions, LLC.
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