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

CES Energy Solutions Corp. (TSE:CEU)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$19.64 and last traded at C$19.56, with a volume of 239539 shares changing hands. The stock had previously closed at C$19.24.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Scotia lifted their price target on shares of 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. BMO Capital Markets raised CES Energy Solutions from a “market perform” rating to an “outperform” rating and boosted their target price for the company from C$21.00 to C$22.00 in a research note on Wednesday, June 24th. TD dropped their price target on CES Energy Solutions from C$19.00 to C$18.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. National Bank Financial upgraded CES Energy Solutions from a “hold” rating to an “outperform” rating and set a C$20.00 price objective for the company in a research report on Friday, August 7th. Finally, Raymond James Financial increased their target price on CES Energy Solutions from C$23.00 to C$25.00 and gave the stock an “outperform” rating in a research note on Monday. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$19.72.

CES Energy Solutions Stock Down 0.3%

The company has a debt-to-equity ratio of 55.36, a current ratio of 2.70 and a quick ratio of 1.78. The company has a market capitalization of C$4.00 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 0.61 and a beta of 0.50. The firm has a 50-day moving average price of C$16.72 and a two-hundred day moving average price of C$17.14.

Insider Activity

In other CES Energy Solutions news, Director John Michael Hooks sold 133,800 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of C$18.92, for a total transaction of C$2,531,496.00. Following the completion of the transaction, the director owned 902,565 shares of the company’s stock, valued at C$17,076,529.80. This represents a 12.91% decrease in their position. Also, insider Kenneth Earl Zinger acquired 10,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was acquired at an average cost of C$15.00 per share, for a total transaction of C$150,000.00. Following the transaction, the insider owned 1,682,857 shares of the company’s stock, valued at C$25,242,855. This represents a 0.60% increase in their ownership of the stock. Over the last quarter, insiders have sold 205,683 shares of company stock worth $3,684,499. 3.03% of the stock is currently owned by insiders.

About CES Energy Solutions

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.