CES Energy Solutions (TSE:CEU) Upgraded at ATB Cormark Capital Markets

CES Energy Solutions (TSE:CEU) was upgraded by stock analysts at ATB Cormark Capital Markets from a “sector perform” rating to an “outperform” rating in a report issued on Friday, BayStreet reports. The brokerage currently has a C$24.00 price target on the stock, up from their prior price target of C$23.50. ATB Cormark Capital Markets‘s price objective would indicate a potential upside of 13.69% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Raymond James Financial boosted their price target on shares of CES Energy Solutions from C$23.00 to C$25.00 and gave the company an “outperform” rating in a report on Monday, August 10th. National Bank Financial raised their price objective on shares of CES Energy Solutions from C$20.00 to C$24.00 and gave the stock an “outperform” rating in a report on Monday, October 26th. Scotia lifted their target price on shares of CES Energy Solutions from C$21.00 to C$22.00 and gave the company a “sector outperform” rating in a research report on Monday, August 10th. Finally, TD lifted their target price on shares of CES Energy Solutions from C$18.00 to C$19.00 and gave the company a “hold” rating in a research report on Tuesday, October 20th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$21.11.

CES Energy Solutions Stock Performance

Shares of CEU traded up C$0.97 on Friday, reaching C$21.11. 563,154 shares of the stock traded hands, compared to its average volume of 728,117. The stock’s 50-day moving average price is C$19.28 and its 200-day moving average price is C$17.81. The company has a debt-to-equity ratio of 55.36, a current ratio of 2.70 and a quick ratio of 1.78. The firm has a market cap of C$4.43 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 0.61 and a beta of 0.87. CES Energy Solutions has a 12 month low of C$9.45 and a 12 month high of C$22.00.

CES Energy Solutions (TSE:CEU) last issued its earnings results on Thursday, November 12th. The company reported C$0.35 EPS for the quarter. The firm had revenue of C$784.82 million during the quarter. CES Energy Solutions had a return on equity of 23.68% and a net margin of 7.36%. Equities analysts forecast that CES Energy Solutions will post 0.86 EPS for the current fiscal year.

Insider Activity

In other news, Director John Michael Hooks sold 87,640 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of C$18.98, for a total value of C$1,663,407.20. Following the completion of the transaction, the director directly owned 866,051 shares of the company’s stock, valued at approximately C$16,437,647.98. This represents a 9.19% decrease in their position. Insiders own 3.03% of the company’s stock.

CES Energy Solutions Company Profile

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.