Energy Recovery, Inc. (NASDAQ:ERII) Receives $20.75 Average Target Price from Brokerages

Energy Recovery, Inc. (NASDAQ:ERII) has earned a consensus recommendation of “Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $20.75.

A number of brokerages recently commented on ERII. StockNews.com raised Energy Recovery from a “hold” rating to a “buy” rating in a research note on Saturday. Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Finally, Scotiabank began coverage on shares of Energy Recovery in a research note on Thursday, December 5th. They set a “buy” rating and a $22.00 price target on the stock.

Energy Recovery Price Performance

Shares of ERII opened at $15.89 on Friday. The firm has a market cap of $873.23 million, a P/E ratio of 46.74 and a beta of 1.21. Energy Recovery has a 1 year low of $12.26 and a 1 year high of $20.27. The company has a 50 day simple moving average of $15.35 and a two-hundred day simple moving average of $16.20.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The company had revenue of $67.08 million for the quarter, compared to analysts’ expectations of $67.39 million. On average, sell-side analysts anticipate that Energy Recovery will post 0.36 earnings per share for the current year.

Insider Activity at Energy Recovery

In related news, SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.42, for a total transaction of $330,666.48. Following the transaction, the senior vice president now directly owns 111,109 shares in the company, valued at approximately $1,713,300.78. This represents a 16.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the completion of the sale, the director now directly owns 693,182 shares in the company, valued at $11,326,593.88. This trade represents a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Energy Recovery

A number of large investors have recently bought and sold shares of ERII. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Energy Recovery by 4.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 186,046 shares of the industrial products company’s stock worth $2,735,000 after purchasing an additional 8,076 shares during the period. Two Sigma Investments LP purchased a new position in Energy Recovery in the 4th quarter worth about $229,000. State of Wyoming lifted its holdings in Energy Recovery by 13.2% during the 4th quarter. State of Wyoming now owns 23,131 shares of the industrial products company’s stock valued at $340,000 after buying an additional 2,699 shares in the last quarter. Select Equity Group L.P. lifted its holdings in Energy Recovery by 9.4% during the 4th quarter. Select Equity Group L.P. now owns 132,495 shares of the industrial products company’s stock valued at $1,948,000 after buying an additional 11,351 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in Energy Recovery by 45.8% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 497,169 shares of the industrial products company’s stock valued at $7,308,000 after buying an additional 156,184 shares during the period. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.