CES Energy Solutions (TSE:CEU) Sets New 12-Month High – Still a Buy?

CES Energy Solutions Corp. (TSE:CEU) hit a new 52-week high on Tuesday . The stock traded as high as C$13.78 and last traded at C$13.77, with a volume of 164012 shares traded. The stock had previously closed at C$13.56.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CEU. Scotiabank upped their price target on shares of CES Energy Solutions from C$9.50 to C$10.25 in a research report on Friday, October 17th. ATB Capital boosted their target price on shares of CES Energy Solutions from C$14.00 to C$14.50 and gave the company an “outperform” rating in a research note on Friday, December 19th. TD Securities raised their price target on shares of CES Energy Solutions from C$9.00 to C$11.00 in a research note on Tuesday, October 14th. Raymond James Financial cut CES Energy Solutions from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, November 17th. Finally, Royal Bank Of Canada raised their target price on CES Energy Solutions from C$10.00 to C$11.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$11.79.

CES Energy Solutions Stock Performance

The company’s 50-day moving average price is C$12.15 and its two-hundred day moving average price is C$9.71. The company has a market cap of C$2.93 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 0.61 and a beta of 0.81. The company has a current ratio of 2.82, a quick ratio of 1.78 and a debt-to-equity ratio of 57.26.

CES Energy Solutions (TSE:CEU) last released its earnings results on Thursday, November 13th. The company reported C$0.18 EPS for the quarter. The business had revenue of C$623.22 million for the quarter. CES Energy Solutions had a net margin of 8.62% and a return on equity of 27.61%. As a group, equities analysts forecast that CES Energy Solutions Corp. will post 0.8600646 earnings per share for the current year.

Insider Activity

In related news, insider Anthony Michael Aulicino acquired 4,545 shares of CES Energy Solutions stock in a transaction dated Tuesday, November 18th. The stock was acquired at an average cost of C$10.97 per share, with a total value of C$49,858.65. Following the purchase, the insider directly owned 1,222,367 shares in the company, valued at C$13,409,365.99. The trade was a 0.37% increase in their position. Also, insider Kenneth Earl Zinger bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was bought at an average price of C$10.93 per share, for a total transaction of C$54,650.00. Following the completion of the acquisition, the insider directly owned 1,872,857 shares in the company, valued at approximately C$20,470,327.01. The trade was a 0.27% increase in their ownership of the stock. In the last 90 days, insiders purchased 54,245 shares of company stock worth $600,232. 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.