CES Energy Solutions (TSE:CEU) Reaches New 52-Week High – Here’s Why

Shares of CES Energy Solutions Corp. (TSE:CEU) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$16.57 and last traded at C$16.32, with a volume of 25501 shares changing hands. The stock had previously closed at C$16.45.

Analyst Upgrades and Downgrades

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

CES Energy Solutions Trading Down 0.5%

The company has a market cap of C$3.48 billion, a P/E ratio of 20.71, a PEG ratio of 0.61 and a beta of 0.96. 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 business has a 50 day moving average price of C$13.43 and a 200-day moving average price of C$10.76.

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.