Profire Energy’s (PFIE) Buy Rating Reaffirmed at Maxim Group

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Maxim Group reaffirmed their buy rating on shares of Profire Energy (NASDAQ:PFIE) in a research report sent to investors on Friday morning. Maxim Group currently has a $5.00 target price on the oil and gas company’s stock.

“Wednesday, after Market close, PFIE announced 3Q18 results with revenue of $11.5M, above our estimate of $10.7M, and EPS of $0.03, a penny above our estimate of $0.02.”,” the firm’s analyst wrote.

PFIE has been the topic of several other research reports. Zacks Investment Research downgraded shares of Profire Energy from a buy rating to a hold rating in a report on Thursday, July 19th. ValuEngine upgraded shares of Profire Energy from a hold rating to a buy rating in a report on Tuesday, August 7th. Finally, Roth Capital set a $5.00 target price on shares of Profire Energy and gave the stock a buy rating in a report on Monday, August 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $4.25.

PFIE traded down $0.11 during trading on Friday, hitting $2.45. The stock had a trading volume of 102,827 shares, compared to its average volume of 207,009. The company has a market capitalization of $118.28 million, a PE ratio of 27.22 and a beta of 1.77. Profire Energy has a 12 month low of $1.72 and a 12 month high of $5.30.

Profire Energy (NASDAQ:PFIE) last announced its earnings results on Wednesday, November 7th. The oil and gas company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The firm had revenue of $11.50 million for the quarter, compared to the consensus estimate of $11.82 million. Profire Energy had a net margin of 13.77% and a return on equity of 13.89%. As a group, equities research analysts forecast that Profire Energy will post 0.14 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in PFIE. Westwood Management Corp IL increased its holdings in shares of Profire Energy by 50.0% during the 2nd quarter. Westwood Management Corp IL now owns 60,000 shares of the oil and gas company’s stock worth $203,000 after purchasing an additional 20,000 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Profire Energy by 420.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 29,911 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 24,166 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Profire Energy during the 2nd quarter worth about $133,000. Private Advisor Group LLC increased its holdings in shares of Profire Energy by 331.7% during the 3rd quarter. Private Advisor Group LLC now owns 51,800 shares of the oil and gas company’s stock worth $165,000 after purchasing an additional 39,800 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of Profire Energy by 24,392.3% during the 3rd quarter. Bank of Montreal Can now owns 41,147 shares of the oil and gas company’s stock worth $131,000 after purchasing an additional 40,979 shares during the period. Hedge funds and other institutional investors own 43.96% of the company’s stock.

Profire Energy Company Profile

Profire Energy, Inc, an oilfield technology company, provides burner- and chemical-management products and services for the oil and gas industry primarily in the United States and Canada. It assists energy production companies in the production and transportation of oil and natural gas. The company offers burner-management systems to ignite, monitor, and manage the burner flames used in oilfield vessels, as well as complementary oilfield products, such as valves and fuel trains, airplates, solar packages, and flare stack igniters and nozzles.

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