CES Energy Solutions (TSE:CEU) Rating Increased to Outperform at National Bank Financial

Key Points

• National Bank Financial upgraded CES Energy Solutions to “outperform” from “sector perform,” setting a C$20.00 price target, implying 7.7% upside from the reported price.
• CES shares rose 13.0% to C$18.57, near their 52-week high of C$19.58. Analysts overall maintain a “Moderate Buy” consensus, with an average target of C$18.94.
• The company reported quarterly revenue of C$681.51 million and EPS of C$0.24, while insiders sold 205,683 shares worth approximately C$3.68 million over the past three months.

CES Energy Solutions (TSE:CEU - Get Free Report) was upgraded by investment analysts at National Bank Financial from a "sector perform" rating to an "outperform" rating in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a C$20.00 price objective on the stock. National Bank Financial's target price would indicate a potential upside of 7.70% from the stock's current price.

Several other equities analysts have also recently issued reports on the company. BMO Capital Markets upgraded CES Energy Solutions from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from C$21.00 to C$22.00 in a research note on Wednesday, June 24th. TD dropped their target price on shares of CES Energy Solutions from C$19.00 to C$18.00 and set a "hold" rating on the stock in a report on Monday, July 13th. Finally, Royal Bank Of Canada increased 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. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$18.94.

CES Energy Solutions Stock Up 13.0%

TSE CEU traded up C$2.13 on Friday, hitting C$18.57. 920,431 shares of the stock traded hands, compared to its average volume of 785,141. The company has a current ratio of 2.75, a quick ratio of 1.78 and a debt-to-equity ratio of 55.71. The stock has a 50-day moving average of C$16.60 and a 200 day moving average of C$16.97. CES Energy Solutions has a twelve month low of C$7.16 and a twelve month high of C$19.58. The company has a market capitalization of C$3.92 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 0.61 and a beta of 0.50.

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

Insider Buying and Selling at CES Energy Solutions

In related news, insider Mihir Patel sold 12,184 shares of the company'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$195,431.36. Following the completion of the transaction, the insider directly owned 16,571 shares in the company, valued at C$265,798.84. This represents a 42.37% decrease in their position. Also, insider David Allyn Burroughs sold 28,815 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of C$16.04, for a total value of C$462,192.60. In the last three months, insiders sold 205,683 shares of company stock worth $3,684,499. Corporate insiders own 3.03% of the company's stock.

CES Energy Solutions Company Profile

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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