Zacks Investment Research Upgrades Advanced Emissions Solutions, Inc. (ADES) to “Buy”
Zacks Investment Research upgraded shares of Advanced Emissions Solutions, Inc. (NASDAQ:ADES) from a hold rating to a buy rating in a report released on Friday morning. They currently have $12.00 target price on the industrial products company’s stock.
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. “
Several other brokerages have also commented on ADES. HC Wainwright set a $18.00 price target on shares of Advanced Emissions Solutions and gave the company a buy rating in a research note on Wednesday, August 9th. TheStreet lowered shares of Advanced Emissions Solutions from a b- rating to a c+ rating in a research note on Monday, June 5th. Finally, ValuEngine lowered shares of Advanced Emissions Solutions from a strong-buy rating to a buy rating in a research note on Thursday, June 15th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $16.00.
Advanced Emissions Solutions (NASDAQ ADES) opened at 10.11 on Friday. Advanced Emissions Solutions has a 12 month low of $6.40 and a 12 month high of $12.25. The stock has a market cap of $210.24 million, a P/E ratio of 2.25 and a beta of 2.85. The stock has a 50 day moving average of $9.81 and a 200-day moving average of $9.88.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Monday, August 21st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.89%. Advanced Emissions Solutions’s dividend payout ratio (DPR) is presently 22.22%.
Advanced Emissions Solutions declared that its Board of Directors has initiated a share repurchase program on Monday, May 8th that allows the company to buyback $9.99 million in outstanding shares. This buyback authorization allows the industrial products company to purchase shares of its stock through a tender offer. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, Director Alan Bradley Gabbard sold 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $9.21, for a total transaction of $43,287.00. Following the transaction, the director now directly owns 41,638 shares in the company, valued at $383,485.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.49% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Northpointe Capital LLC purchased a new position in Advanced Emissions Solutions during the second quarter worth $4,223,000. Apollo Management Holdings L.P. raised its position in Advanced Emissions Solutions by 153.4% in the second quarter. Apollo Management Holdings L.P. now owns 633,388 shares of the industrial products company’s stock worth $5,802,000 after buying an additional 383,388 shares during the period. State Street Corp raised its position in Advanced Emissions Solutions by 1,604.4% in the second quarter. State Street Corp now owns 253,958 shares of the industrial products company’s stock worth $2,327,000 after buying an additional 239,058 shares during the period. James Investment Research Inc. purchased a new position in Advanced Emissions Solutions during the first quarter worth $2,279,000. Finally, Northern Trust Corp raised its position in Advanced Emissions Solutions by 343.5% in the second quarter. Northern Trust Corp now owns 238,983 shares of the industrial products company’s stock worth $2,189,000 after buying an additional 185,102 shares during the period. Hedge funds and other institutional investors own 70.38% of the company’s stock.
About Advanced Emissions Solutions
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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