CES Energy Solutions (TSE:CEU) Stock Rating Raised to “Outperform” at ATB Cormark Capital Markets

CES Energy Solutions (TSE:CEU) was upgraded by equities research analysts at ATB Cormark Capital Markets from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, BayStreet reports. The brokerage presently has a C$24.00 price target on the stock, up from their prior price target of C$23.50. ATB Cormark Capital Markets‘s target price would suggest a potential upside of 13.69% from the stock’s previous close.

CEU has been the topic of a number of other reports. Scotia boosted their price objective on CES Energy Solutions from C$21.00 to C$22.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 10th. National Bank Financial increased their target price on CES Energy Solutions from C$20.00 to C$24.00 and gave the company an “outperform” rating in a research note on Monday, October 26th. Raymond James Financial raised their target price on CES Energy Solutions from C$23.00 to C$25.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Finally, TD lifted their price target on CES Energy Solutions from C$18.00 to C$19.00 and gave the stock a “hold” rating in a research report on Tuesday, October 20th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, CES Energy Solutions has a consensus rating of “Moderate Buy” and an average price target of C$21.11.

CES Energy Solutions Stock Performance

CEU traded up C$0.97 during trading on Friday, hitting C$21.11. The stock had a trading volume of 563,154 shares, compared to its average volume of 728,117. The firm has a market cap of C$4.43 billion, a PE ratio of 22.95, a P/E/G ratio of 0.61 and a beta of 0.87. CES Energy Solutions has a 12 month low of C$9.45 and a 12 month high of C$22.00. The company has a current ratio of 2.70, a quick ratio of 1.78 and a debt-to-equity ratio of 55.36. The company has a 50 day simple moving average of C$19.28 and a 200-day simple moving average of C$17.81.

CES Energy Solutions (TSE:CEU) last released its earnings results on Thursday, November 12th. The company reported C$0.35 earnings per share for the quarter. CES Energy Solutions had a net margin of 7.36% and a return on equity of 23.68%. The firm had revenue of C$784.82 million during the quarter. Analysts expect that CES Energy Solutions will post 0.86 EPS for the current year.

Insider Transactions at CES Energy Solutions

In other CES Energy Solutions news, Director John Michael Hooks sold 78,700 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of C$19.10, for a total value of C$1,503,170.00. Following the sale, the director directly owned 787,351 shares in the company, valued at C$15,038,404.10. This trade represents a 9.09% decrease in their position. 3.03% of the stock is owned by corporate insiders.

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.