CES Energy Solutions (TSE:CEU) Hits New 52-Week High – Here’s What Happened

CES Energy Solutions Corp. (TSE:CEU)’s stock price reached a new 52-week high on Friday . The stock traded as high as C$17.07 and last traded at C$16.99, with a volume of 127634 shares changing hands. The stock had previously closed at C$16.82.

Analyst Ratings Changes

A number of brokerages have recently commented on CEU. Raymond James Financial cut CES Energy Solutions from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, November 17th. Scotiabank boosted their price objective on shares of CES Energy Solutions from C$12.25 to C$16.00 in a report on Thursday, January 29th. ATB Cormark Capital Markets increased their target price on shares of CES Energy Solutions from C$14.50 to C$16.50 and gave the stock an “outperform” rating in a report on Monday, January 26th. TD Securities lowered shares of CES Energy Solutions from a “buy” rating to a “hold” rating and boosted their price target for the company from C$12.00 to C$16.00 in a report on Monday, January 26th. Finally, National Bank Financial raised their price objective on CES Energy Solutions from C$13.00 to C$15.00 and gave the stock an “outperform” rating in a research note on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$13.92.

CES Energy Solutions Trading Up 1.5%

The firm has a market capitalization of C$3.63 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 0.61 and a beta of 0.96. The business’s fifty day moving average is C$14.04 and its 200 day moving average is C$11.23. The company has a quick ratio of 1.78, a current ratio of 2.82 and a debt-to-equity ratio of 57.26.

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.