Energy Recovery Inc. (ERII) Given Average Recommendation of “Buy” by Analysts
Energy Recovery Inc. (NASDAQ:ERII) has been given an average rating of “Buy” by the eight ratings firms that are currently covering the stock. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $17.17.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Energy Recovery from a “strong sell” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Wednesday, July 13th. FBR & Co reiterated a “buy” rating on shares of Energy Recovery in a report on Thursday, September 8th. Evercore ISI assumed coverage on shares of Energy Recovery in a report on Tuesday, September 27th. They set a “buy” rating and a $23.00 price objective on the stock. Iberia Capital assumed coverage on shares of Energy Recovery in a report on Monday, September 26th. They set an “outperform” rating and a $21.00 price objective on the stock. Finally, Jefferies Group upgraded shares of Energy Recovery from a “hold” rating to a “buy” rating and increased their price objective for the stock from $8.00 to $20.00 in a report on Tuesday, September 13th.
In other Energy Recovery news, Director Alexander J. Buehler sold 24,500 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $13.05, for a total value of $319,725.00. Following the completion of the sale, the director now owns 60,500 shares of the company’s stock, valued at $789,525. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexander J. Buehler sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $13.00, for a total transaction of $65,000.00. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $1,105,000. The disclosure for this sale can be found here. 26.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of ERII. Vanguard Group Inc. increased its stake in shares of Energy Recovery by 19.9% in the second quarter. Vanguard Group Inc. now owns 1,458,697 shares of the company’s stock valued at $12,968,000 after buying an additional 242,467 shares during the period. BlackRock Fund Advisors increased its stake in Energy Recovery by 996.3% in the second quarter. BlackRock Fund Advisors now owns 895,324 shares of the company’s stock worth $7,959,000 after buying an additional 813,653 shares during the last quarter. State Street Corp increased its stake in Energy Recovery by 1,966.8% in the second quarter. State Street Corp now owns 501,932 shares of the company’s stock worth $4,462,000 after buying an additional 477,646 shares during the last quarter. California Public Employees Retirement System increased its stake in Energy Recovery by 27.9% in the second quarter. California Public Employees Retirement System now owns 242,400 shares of the company’s stock worth $2,155,000 after buying an additional 52,900 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Energy Recovery during the second quarter worth $1,933,000. 26.12% of the stock is owned by institutional investors.
Energy Recovery (NASDAQ:ERII) traded down 0.07% on Monday, reaching $13.57. 180,330 shares of the company’s stock traded hands. The firm’s market capitalization is $706.37 million. Energy Recovery has a 52 week low of $2.40 and a 52 week high of $16.67. The stock has a 50-day moving average of $14.23 and a 200 day moving average of $11.62.
Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, August 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.06. The company had revenue of $13.20 million for the quarter, compared to analyst estimates of $10.34 million. Energy Recovery had a negative net margin of 3.05% and a positive return on equity of 3.97%. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. On average, equities analysts expect that Energy Recovery will post $0.67 EPS for the current fiscal year.
About Energy Recovery
Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. It operates through two segments: Water, and Oil & Gas. Its Water Segment focuses on products sold for use in reverse osmosis water desalination.
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