Energy Recovery, Inc. (ERII) Receives $15.80 Consensus Target Price from Brokerages

Energy Recovery, Inc. (NASDAQ:ERII) has been assigned a consensus rating of “Buy” from the ten analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $15.80.

A number of research analysts recently issued reports on ERII shares. Zacks Investment Research upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Friday, April 20th. TheStreet upgraded shares of Energy Recovery from a “c” rating to a “b-” rating in a research report on Thursday, March 8th. B. Riley set a $20.00 target price on shares of Energy Recovery and gave the company a “buy” rating in a research report on Wednesday, May 16th. ValuEngine downgraded shares of Energy Recovery from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Finally, BidaskClub upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Tuesday, April 24th.

Shares of ERII remained flat at $$8.65 during trading hours on Thursday. 167,405 shares of the stock were exchanged, compared to its average volume of 383,903. The stock has a market capitalization of $475.65 million, a price-to-earnings ratio of 123.57 and a beta of 5.29. The company has a quick ratio of 4.32, a current ratio of 4.61 and a debt-to-equity ratio of 0.01. Energy Recovery has a 12-month low of $6.13 and a 12-month high of $11.30.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Thursday, May 3rd. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $13.80 million during the quarter, compared to the consensus estimate of $16.08 million. Energy Recovery had a net margin of 22.35% and a return on equity of 6.13%. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 earnings per share. equities research analysts forecast that Energy Recovery will post 0.15 EPS for the current fiscal year.

Energy Recovery declared that its Board of Directors has authorized a share repurchase program on Thursday, March 8th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the industrial products company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $8.57, for a total value of $428,500.00. Following the completion of the transaction, the director now owns 1,095,800 shares in the company, valued at $9,391,006. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 23.80% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Arlington Financial Advisors LLC acquired a new position in shares of Energy Recovery in the fourth quarter worth about $1,003,000. Cadence Capital Management LLC acquired a new position in shares of Energy Recovery in the fourth quarter worth about $1,661,000. Virtu Financial LLC acquired a new position in shares of Energy Recovery in the fourth quarter worth about $631,000. Encompass Capital Advisors LLC raised its position in shares of Energy Recovery by 51.1% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,208,674 shares of the industrial products company’s stock worth $10,576,000 after acquiring an additional 408,674 shares during the period. Finally, BlackRock Inc. raised its position in shares of Energy Recovery by 1.2% in the fourth quarter. BlackRock Inc. now owns 2,204,184 shares of the industrial products company’s stock worth $19,287,000 after acquiring an additional 26,017 shares during the period. Institutional investors and hedge funds own 38.58% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names worldwide. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for low and high-pressure reverse osmosis systems.

Analyst Recommendations for Energy Recovery (NASDAQ:ERII)

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