CES Energy Solutions (TSE:CEU) Hits New 12-Month High – Here’s What Happened

CES Energy Solutions Corp. (TSE:CEU) shares reached a new 52-week high on Friday . The company traded as high as C$17.07 and last traded at C$16.99, with a volume of 127634 shares traded. The stock had previously closed at C$16.82.

Analyst Ratings Changes

CEU has been the subject of a number of recent research reports. TD Securities downgraded shares of CES Energy Solutions from a “buy” rating to a “hold” rating and increased their price objective for the company from C$12.00 to C$16.00 in a report on Monday, January 26th. National Bank Financial increased their price target on CES Energy Solutions from C$13.00 to C$15.00 and gave the company an “outperform” rating in a report on Friday, January 9th. Raymond James Financial downgraded CES Energy Solutions from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, November 17th. Scotiabank upped their target price on CES Energy Solutions from C$12.25 to C$16.00 in a report on Thursday, January 29th. Finally, ATB Cormark Capital Markets raised their target price on CES Energy Solutions from C$14.50 to C$16.50 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$13.92.

CES Energy Solutions Trading Up 0.1%

The stock has a market cap of C$3.58 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 0.61 and a beta of 0.96. The company has a debt-to-equity ratio of 57.26, a quick ratio of 1.78 and a current ratio of 2.82. The company’s 50-day moving average price is C$14.13 and its 200 day moving average price is C$11.31.

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.