Evercore ISI Lowers Energy Recovery (NASDAQ:ERII) Price Target to $20.00

Energy Recovery (NASDAQ:ERII) had its target price decreased by Evercore ISI from $23.00 to $20.00 in a report released on Tuesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the industrial products company’s stock.

A number of other brokerages have also recently commented on ERII. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. B. Riley decreased their target price on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Fearnley Fonds cut shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Energy Recovery has an average rating of “Moderate Buy” and an average price target of $20.33.

Energy Recovery Stock Performance

Energy Recovery stock opened at $15.80 on Tuesday. The firm’s fifty day moving average price is $17.78 and its 200-day moving average price is $15.70. The stock has a market cap of $914.73 million, a P/E ratio of 46.03 and a beta of 1.22. Energy Recovery has a fifty-two week low of $12.26 and a fifty-two week high of $20.27.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. The firm had revenue of $38.60 million for the quarter, compared to analysts’ expectations of $37.37 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $0.17 EPS. On average, analysts predict that Energy Recovery will post 0.41 earnings per share for the current year.

Insider Buying and Selling at Energy Recovery

In other news, CTO Farshad Ghasripoor sold 10,526 shares of Energy Recovery stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.97, for a total transaction of $189,152.22. Following the sale, the chief technology officer now owns 126,961 shares of the company’s stock, valued at approximately $2,281,489.17. The trade was a 7.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Rodney Clemente sold 6,505 shares of Energy Recovery stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.98, for a total transaction of $116,959.90. Following the sale, the senior vice president now directly owns 133,823 shares in the company, valued at $2,406,137.54. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,406 shares of company stock worth $828,688. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Energy Recovery

Large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. bought a new stake in shares of Energy Recovery during the 2nd quarter valued at about $26,000. CWM LLC boosted its stake in shares of Energy Recovery by 5,032.5% during the 3rd quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 4,177 shares in the last quarter. AXA S.A. bought a new stake in shares of Energy Recovery during the 2nd quarter valued at about $149,000. ProShare Advisors LLC bought a new stake in shares of Energy Recovery during the 1st quarter valued at about $158,000. Finally, AQR Capital Management LLC boosted its stake in shares of Energy Recovery by 19.8% during the 2nd quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock valued at $159,000 after purchasing an additional 1,986 shares in the last quarter. 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.