CES Energy Solutions (TSE:CEU) Price Target Raised to C$16.00 at Scotiabank

CES Energy Solutions (TSE:CEU) had its price target raised by Scotiabank from C$12.25 to C$16.00 in a report published on Thursday,BayStreet.CA reports.

CEU has been the subject of a number of other reports. TD Securities downgraded CES Energy Solutions from a “buy” rating to a “hold” rating and increased their target price for the company from C$12.00 to C$16.00 in a research report on Monday. Royal Bank Of Canada increased their price objective on shares of 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. Raymond James Financial cut shares of CES Energy Solutions from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, November 17th. National Bankshares upped their target price on shares of CES Energy Solutions from C$13.00 to C$15.00 and gave the company an “outperform” rating in a research report on Friday, January 9th. Finally, ATB Capital increased their price target on shares of CES Energy Solutions from C$14.50 to C$16.50 and gave the company an “outperform” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$13.92.

CES Energy Solutions Stock Up 3.3%

CEU opened at C$14.25 on Thursday. The company has a market capitalization of C$3.03 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 0.61 and a beta of 0.81. The firm has a 50-day simple moving average of C$12.70 and a two-hundred day simple moving average of C$10.06. The company has a quick ratio of 1.78, a current ratio of 2.82 and a debt-to-equity ratio of 57.26. CES Energy Solutions has a 52 week low of C$5.59 and a 52 week high of C$14.65.

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

Insider Buying and Selling

In other news, Director John Michael Hooks purchased 44,700 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were bought at an average cost of C$11.09 per share, for a total transaction of C$495,723.00. Following the acquisition, the director owned 825,981 shares of the company’s stock, valued at approximately C$9,160,129.29. This trade represents a 5.72% increase in their position. Also, insider Kenneth Earl Zinger acquired 5,000 shares of CES Energy Solutions stock in a transaction that occurred on Tuesday, November 18th. The stock was purchased at an average cost of C$10.93 per share, for a total transaction of C$54,650.00. Following the completion of the transaction, the insider directly owned 1,872,857 shares in the company, valued at C$20,470,327.01. This trade represents a 0.27% increase in their ownership of the stock. In the last ninety days, insiders bought 54,245 shares of company stock valued at $600,232. Company 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.