Energy Recovery (NASDAQ:ERII) had its price objective cut by JMP Securities from $15.00 to $13.00 in a research note issued to investors on Friday. The brokerage currently has a “market outperform” rating on the industrial products company’s stock. JMP Securities’ target price points to a potential upside of 61.09% from the company’s previous close.
A number of other equities analysts also recently issued reports on ERII. ValuEngine downgraded Energy Recovery from a “buy” rating to a “hold” rating in a research report on Monday, June 11th. Zacks Investment Research raised Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, May 3rd. TheStreet downgraded Energy Recovery from a “b-” rating to a “c” rating in a research report on Tuesday, May 29th. BidaskClub downgraded Energy Recovery from a “hold” rating to a “sell” rating in a research report on Friday, May 4th. Finally, B. Riley set a $20.00 target price on Energy Recovery and gave the company a “buy” rating in a research report on Wednesday, May 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $15.14.
Shares of Energy Recovery opened at $8.07 on Friday, Marketbeat reports. The firm has a market cap of $453.98 million, a PE ratio of 115.29 and a beta of 5.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.32 and a current ratio of 4.61. Energy Recovery has a 12-month low of $6.13 and a 12-month high of $11.30.
Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Thursday, May 3rd. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $13.80 million for the quarter, compared to the consensus estimate of $16.08 million. Energy Recovery had a return on equity of 6.13% and a net margin of 22.35%. The business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 earnings per share. analysts predict that Energy Recovery will post 0.15 earnings per share for the current year.
Energy Recovery declared that its board has initiated a stock repurchase plan on Thursday, March 8th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas acquired a new position in shares of Energy Recovery in the 4th quarter valued at $101,000. Aristotle Atlantic Partners LLC acquired a new stake in Energy Recovery during the 4th quarter worth about $131,000. LPL Financial LLC acquired a new stake in Energy Recovery during the 4th quarter worth about $155,000. MetLife Investment Advisors LLC acquired a new stake in Energy Recovery during the 4th quarter worth about $157,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in Energy Recovery by 1,361.9% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 18,785 shares of the industrial products company’s stock worth $164,000 after purchasing an additional 17,500 shares during the period. 38.58% of the stock is currently owned by hedge funds and other institutional investors.
Energy Recovery Company Profile
Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names worldwide. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for low and high-pressure reverse osmosis systems.
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