Wall Street Zen Downgrades Energy Services of America (NASDAQ:ESOA) to Buy

Energy Services of America (NASDAQ:ESOA) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other equities analysts also recently issued reports on the company. Weiss Ratings upgraded Energy Services of America from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday. Lake Street Capital reissued a “buy” rating and issued a $25.00 price objective on shares of Energy Services of America in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $25.00.

Energy Services of America Price Performance

Shares of ESOA opened at $12.83 on Friday. Energy Services of America has a 52-week low of $7.84 and a 52-week high of $19.94. The business’s 50 day moving average price is $16.23 and its two-hundred day moving average price is $15.05.

Energy Services of America (NASDAQ:ESOA) last released its quarterly earnings data on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $130.01 million for the quarter, compared to the consensus estimate of $112.65 million.

Insider Activity at Energy Services of America

In other Energy Services of America news, Director Marshall T. Reynolds sold 35,058 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $14.98, for a total transaction of $525,168.84. Following the sale, the director owned 1,225,373 shares in the company, valued at $18,356,087.54. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark Prince sold 33,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $17.80, for a total value of $587,400.00. Following the sale, the director directly owned 67,071 shares in the company, valued at $1,193,863.80. This trade represents a 32.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 233,000 shares of company stock worth $3,813,537. 44.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Energy Services of America

A number of hedge funds and other institutional investors have recently bought and sold shares of ESOA. Larson Financial Group LLC grew its stake in shares of Energy Services of America by 117.1% during the third quarter. Larson Financial Group LLC now owns 2,436 shares of the company’s stock valued at $25,000 after buying an additional 1,314 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Energy Services of America by 137.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,390 shares of the company’s stock valued at $25,000 after acquiring an additional 1,384 shares during the last quarter. Legal & General Group Plc purchased a new stake in Energy Services of America during the 2nd quarter valued at about $26,000. PNC Financial Services Group Inc. boosted its holdings in Energy Services of America by 80.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,871 shares of the company’s stock valued at $38,000 after acquiring an additional 1,283 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Energy Services of America during the 2nd quarter worth approximately $44,000. Hedge funds and other institutional investors own 2.13% of the company’s stock.

Energy Services of America Company Profile

Energy Services of America, Inc (NASDAQ: ESOA) is a provider of natural gas compression equipment and services to energy producers, pipeline operators, and landowners across North America. The company designs, manufactures, and distributes compression systems tailored to meet the needs of natural gas gathering, processing and transmission applications. Its offerings include the sale, lease, and repair of both new and reconditioned compression units, as well as aftermarket parts and field services that support ongoing system performance and reliability.

In addition to core compression services, Energy Services of America delivers turnkey solutions for pipeline operators and gas processors.