Royal Bank of Canada Issues Pessimistic Forecast for CES Energy Solutions (TSE:CEU) Stock Price

CES Energy Solutions (TSE:CEU) had its price target reduced by Royal Bank of Canada from C$11.00 to C$10.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 56.25% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. TD Securities dropped their target price on shares of CES Energy Solutions from C$11.00 to C$9.00 and set a “buy” rating for the company in a research report on Wednesday. BMO Capital Markets dropped their price objective on shares of CES Energy Solutions from C$10.00 to C$9.00 in a research report on Thursday. National Bankshares lifted their target price on shares of CES Energy Solutions from C$10.00 to C$11.50 and gave the company a “sector perform” rating in a report on Thursday, December 19th. Atb Cap Markets upgraded CES Energy Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Finally, ATB Capital upgraded CES Energy Solutions from a “sector perform” rating to an “outperform” rating and set a C$11.00 price objective on the stock in a research note on Friday, March 7th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, CES Energy Solutions presently has an average rating of “Buy” and an average target price of C$10.03.

CES Energy Solutions Price Performance

CEU stock opened at C$6.40 on Thursday. The company has a market cap of C$1.43 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 0.61 and a beta of 2.31. The company has a current ratio of 2.82, a quick ratio of 1.78 and a debt-to-equity ratio of 57.26. The stock has a 50-day moving average price of C$7.35 and a two-hundred day moving average price of C$8.39. CES Energy Solutions has a 12-month low of C$5.29 and a 12-month high of C$10.20.

Insider Activity at CES Energy Solutions

In related news, Senior Officer Kenneth Earl Zinger purchased 10,000 shares of CES Energy Solutions stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of C$6.06 per share, with a total value of C$60,600.00. Also, Senior Officer Anthony Michael Aulicino sold 50,563 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of C$7.23, for a total value of C$365,570.49. 3.03% of the stock is currently owned by company insiders.

CES Energy Solutions Company Profile

CES Energy Solutions Corp provides consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at drill-bit, at point of completion and stimulation, at wellhead and pump-jack, and to the pipeline and midstream market. Its geographical segments are the United States and Canada, of which the majority of its revenue comes from the United States.