CES Energy Solutions Corp. (TSE:CEU) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

CES Energy Solutions Corp. (TSE:CEU) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$19.72.

Several brokerages recently weighed in on CEU. BMO Capital Markets raised CES Energy Solutions from a “market perform” rating to an “outperform” rating and increased their target price for the stock from C$21.00 to C$22.00 in a research report on Wednesday, June 24th. Scotia upped their price target on CES Energy Solutions from C$21.00 to C$22.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 10th. Raymond James Financial raised their price objective on CES Energy Solutions from C$23.00 to C$25.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. TD reduced their price objective on CES Energy Solutions from C$19.00 to C$18.00 and set a “hold” rating on the stock in a research note on Monday, July 13th. Finally, National Bank Financial upgraded CES Energy Solutions from a “hold” rating to an “outperform” rating and set a C$20.00 target price for the company in a report on Friday, August 7th.

CES Energy Solutions Price Performance

Shares of CEU opened at C$17.89 on Monday. CES Energy Solutions has a fifty-two week low of C$8.63 and a fifty-two week high of C$20.38. The company’s fifty day moving average is C$18.39 and its two-hundred day moving average is C$17.82. The firm has a market cap of C$3.75 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 0.61 and a beta of 0.81. The company has a quick ratio of 1.78, a current ratio of 2.70 and a debt-to-equity ratio of 55.36.

Insiders Place Their Bets

In other CES Energy Solutions news, Director John Michael Hooks sold 87,640 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of C$18.98, for a total transaction of C$1,663,407.20. Following the completion of the sale, the director directly owned 866,051 shares in the company, valued at C$16,437,647.98. The trade was a 9.19% decrease in their ownership of the stock. 3.03% of the stock is currently owned by company insiders.

About CES Energy Solutions

CES is a leading provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and finally through to the pipeline and midstream market. CES’ business model is relatively asset light and requires limited re-investment capital to grow. As a result, CES has been able to capitalize on the growing market demand for drilling fluids and production and specialty chemicals in North America while generating free cash flow.