CES Energy Solutions (TSE:CEU) Hits New 1-Year High - Here's Why

Key Points

• CES Energy Solutions shares reached a new 52-week high, trading as high as C$19.64 before closing near C$19.56, up from the prior close of C$19.24.
• Analyst sentiment is positive: six analysts rate the stock a Buy and two rate it a Hold, producing a consensus “Moderate Buy” rating. Recent price targets range from C$20.00 to C$25.00, with several firms upgrading the stock or raising targets.
• The company has solid financial metrics, including a 2.70 current ratio and C$4.10 billion market capitalization, while insider activity was mixed: one insider bought 10,000 shares, but insiders sold 205,683 shares worth approximately C$3.68 million over the past 90 days.

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

Analysts Set New Price Targets

Several equities analysts have commented on the company. BMO Capital Markets upgraded CES Energy Solutions from a "market perform" rating to an "outperform" rating and increased their price target for the company from C$21.00 to C$22.00 in a report on Wednesday, June 24th. National Bank Financial raised shares of CES Energy Solutions from a "hold" rating to an "outperform" rating and set a C$20.00 price objective for the company in a report on Friday, August 7th. Scotia raised their target price on shares of CES Energy Solutions from C$21.00 to C$22.00 and gave the company a "sector outperform" rating in a research note on Monday. Royal Bank Of Canada lifted their target price on shares of CES Energy Solutions from C$20.00 to C$22.00 and gave the stock an "outperform" rating in a report on Tuesday, April 14th. Finally, Raymond James Financial boosted their target price on shares of CES Energy Solutions from C$23.00 to C$25.00 and gave the stock an "outperform" rating in a research report on Monday. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$19.72.

CES Energy Solutions Price Performance

The company has a current ratio of 2.70, a quick ratio of 1.78 and a debt-to-equity ratio of 55.36. The stock has a fifty day simple moving average of C$16.68 and a 200-day simple moving average of C$17.07. The stock has a market cap of C$4.10 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 0.61 and a beta of 0.50.

Insider Buying and Selling

In related news, insider Kenneth Earl Zinger acquired 10,000 shares of the stock in a transaction dated Monday, June 22nd. The shares were acquired at an average price of C$15.00 per share, for a total transaction of C$150,000.00. Following the completion of the purchase, the insider owned 1,682,857 shares in the company, valued at approximately C$25,242,855. The trade was a 0.60% increase in their position. Also, insider James Farnsworth Strickland sold 4,044 shares of the business's stock in a transaction on Monday, July 6th. The stock was sold at an average price of C$16.04, for a total transaction of C$64,865.76. Following the transaction, the insider directly owned 38,231 shares in the company, valued at C$613,225.24. This trade represents a 9.57% decrease in their position. Insiders sold 205,683 shares of company stock valued at $3,684,499 in the last ninety days. Company insiders own 3.03% of the company's stock.

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.

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