CES Energy Solutions (TSE:CEU) Sets New 1-Year High – Time to Buy?

CES Energy Solutions Corp. (TSE:CEU)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as C$17.07 and last traded at C$16.99, with a volume of 127634 shares changing hands. The stock had previously closed at C$16.82.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Scotiabank lifted their price target on shares of CES Energy Solutions from C$12.25 to C$16.00 in a report on Thursday, January 29th. ATB Cormark Capital Markets raised their price objective on shares of CES Energy Solutions from C$14.50 to C$16.50 and gave the stock an “outperform” rating in a report on Monday, January 26th. Raymond James Financial downgraded CES Energy Solutions from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, November 17th. TD Securities cut CES Energy Solutions from a “buy” rating to a “hold” rating and raised their price target for the company from C$12.00 to C$16.00 in a report on Monday, January 26th. Finally, National Bank Financial lifted their price objective on 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. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, CES Energy Solutions presently has a consensus rating of “Moderate Buy” and an average target price of C$13.92.

CES Energy Solutions Stock Up 1.5%

The firm’s 50 day moving average price is C$14.04 and its 200-day moving average price is C$11.23. 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 company has a market cap of C$3.63 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 0.61 and a beta of 0.96.

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.