Wall Street Zen Upgrades Enviri (NYSE:NVRI) to Hold

Enviri (NYSE:NVRI) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

NVRI has been the subject of a number of other reports. BMO Capital Markets lifted their price objective on Enviri from $21.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 12th. Weiss Ratings downgraded shares of Enviri from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $24.50.

Enviri Stock Performance

Shares of Enviri stock opened at $23.74 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.43 and a quick ratio of 1.19. The firm has a 50 day simple moving average of $20.49 and a 200 day simple moving average of $20.22. Enviri has a fifty-two week low of $11.15 and a fifty-two week high of $24.39. The firm has a market cap of $669.34 million and a P/E ratio of -37.69.

Enviri (NYSE:NVRI) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.38. The firm had revenue of $325.03 million for the quarter, compared to analyst estimates of $317.13 million. The firm’s revenue for the quarter was down 43.5% on a year-over-year basis. Sell-side analysts predict that Enviri will post -1.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Peter Minan bought 2,946 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was bought at an average cost of $20.27 per share, for a total transaction of $59,715.42. Following the transaction, the chief financial officer owned 97,505 shares of the company’s stock, valued at $1,976,426.35. This represents a 3.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carolann I. Haznedar purchased 4,875 shares of the stock in a transaction dated Monday, August 17th. The stock was bought at an average cost of $20.46 per share, with a total value of $99,742.50. Following the completion of the purchase, the director owned 42,955 shares in the company, valued at $878,859.30. The trade was a 12.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Enviri

Several institutional investors and hedge funds have recently made changes to their positions in NVRI. Bank of America Corp DE lifted its stake in Enviri by 333.0% in the 1st quarter. Bank of America Corp DE now owns 912,015 shares of the company’s stock valued at $17,894,000 after acquiring an additional 701,365 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Enviri during the 2nd quarter worth approximately $2,004,000. Newtyn Management LLC bought a new position in shares of Enviri during the 2nd quarter worth approximately $8,214,000. Kintayl Capital LP bought a new position in shares of Enviri during the 2nd quarter worth approximately $1,213,000. Finally, OMERS ADMINISTRATION Corp raised its holdings in shares of Enviri by 183.8% in the first quarter. OMERS ADMINISTRATION Corp now owns 921,561 shares of the company’s stock valued at $18,081,000 after purchasing an additional 596,861 shares during the last quarter. Institutional investors and hedge funds own 93.43% of the company’s stock.

About Enviri

Enviri Corporation (NYSE: NVRI) is an environmental solutions company that provides services and products designed to help industrial, commercial and government customers manage waste, recover materials and improve resource efficiency. The company serves customers in multiple regions, with operations spanning North America, Europe and other international markets.

Enviri’s Harsco Environmental business provides environmental services to the global steel industry. Its activities include the processing and beneficial reuse of steel slag and other byproducts, metal recovery, slag handling, site services and the production of mineral-based products used in areas such as construction and infrastructure.

Through its Clean Earth business, Enviri manages hazardous and non-hazardous waste streams for industrial, healthcare, pharmaceutical, retail and government customers.