CES Energy Solutions (TSE:CEU) Price Target Lowered to C$18.00 at TD

Key Points

• TD lowered its price target on CES Energy Solutions to C$18.00 from C$19.00 while keeping a hold rating, implying about 8.3% upside from the prior close.
• Analyst views remain mixed: Royal Bank of Canada and BMO Capital Markets raised targets and ratings, while National Bank Financial downgraded the stock to sector perform. The overall consensus is still Moderate Buy with an average target price of C$18.94.
• The stock traded at C$16.62 on Monday, and recent insider activity has included multiple share sales, with insiders selling 205,683 shares worth about $3.68 million over the past 90 days.

CES Energy Solutions (TSE:CEU - Get Free Report) had its price target dropped by equities researchers at TD from C$19.00 to C$18.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. TD's price objective suggests a potential upside of 8.30% from the company's previous close.

CEU has been the topic of several other research reports. Royal Bank Of Canada upped their price objective on CES Energy Solutions from C$20.00 to C$22.00 and gave the company an "outperform" rating in a research note on Tuesday, April 14th. National Bank Financial cut CES Energy Solutions from an "outperform" rating to a "sector perform" rating and set a C$20.00 price target on the stock. in a research note on Wednesday, May 13th. Finally, BMO Capital Markets raised CES Energy Solutions from a "market perform" rating to an "outperform" rating and raised their price target for the company from C$21.00 to C$22.00 in a report on Wednesday, June 24th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$18.94.

CES Energy Solutions Stock Performance

Shares of CEU traded up C$0.27 during midday trading on Monday, reaching C$16.62. The stock had a trading volume of 156,921 shares, compared to its average volume of 816,891. The firm has a 50 day simple moving average of C$17.21 and a 200-day simple moving average of C$16.41. CES Energy Solutions has a one year low of C$7.04 and a one year high of C$19.58. The firm has a market cap of C$3.50 billion, a PE ratio of 17.13, a P/E/G ratio of 0.61 and a beta of 0.51. The company has a current ratio of 2.75, a quick ratio of 1.78 and a debt-to-equity ratio of 55.71.

CES Energy Solutions (TSE:CEU - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported C$0.24 earnings per share (EPS) for the quarter. CES Energy Solutions had a net margin of 8.29% and a return on equity of 26.01%. The company had revenue of C$681.51 million for the quarter. As a group, sell-side analysts anticipate that CES Energy Solutions will post 0.8600646 EPS for the current year.

Insider Buying and Selling

In other news, insider Mihir Patel sold 12,184 shares of the business's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of C$16.04, for a total value of C$195,431.36. Following the completion of the sale, the insider owned 16,571 shares of the company's stock, valued at approximately C$265,798.84. The trade was a 42.37% decrease in their ownership of the stock. Also, insider Matthew Stephen Bell sold 26,840 shares of the company's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of C$16.04, for a total transaction of C$430,513.60. Following the completion of the transaction, the insider owned 17,000 shares in the company, valued at C$272,680. This trade represents a 61.22% decrease in their ownership of the stock. Insiders have sold a total of 205,683 shares of company stock valued at $3,684,499 in the last 90 days. 3.03% of the stock is currently owned by corporate 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.

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