CES Energy Solutions (TSE:CEU) Sets New 1-Year High - Time to Buy?

Key Points

• CES Energy Solutions stock hit a new 52-week high of C$17.38 (last C$17.34) and is trading above its 50- and 200-day moving averages (C$14.69 and C$11.72).
• Analyst sentiment is broadly positive (four Buys, one Hold) but the MarketBeat average price target of C$13.92 remains below the current share price, even as several firms raised targets to roughly C$16–C$16.50.
• The company is an asset-light oilfield chemicals provider generating free cash flow, with a market cap of C$3.69 billion, a PE of 21.95, PEG of 0.61, healthy liquidity (current ratio 3.02) and a debt-to-equity of 61.7%.

CES Energy Solutions Corp. (TSE:CEU - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The stock traded as high as C$17.38 and last traded at C$17.34, with a volume of 44411 shares. The stock had previously closed at C$17.09.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CEU. Raymond James Financial cut CES Energy Solutions from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, November 17th. Scotiabank increased their target price on CES Energy Solutions from C$12.25 to C$16.00 in a research report on Thursday, January 29th. TD Securities lowered shares of CES Energy Solutions from a "buy" rating to a "hold" rating and lifted their price target for the stock from C$12.00 to C$16.00 in a report on Monday, January 26th. ATB Cormark Capital Markets raised their price target on shares of CES Energy Solutions from C$14.50 to C$16.50 and gave the stock an "outperform" rating in a report on Monday, January 26th. Finally, National Bank Financial boosted their price objective on CES Energy Solutions from C$13.00 to C$15.00 and gave the company an "outperform" rating in a research note on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$13.92.

CES Energy Solutions Price Performance

The stock has a market cap of C$3.69 billion, a PE ratio of 21.95, a P/E/G ratio of 0.61 and a beta of 1.00. The firm's 50 day moving average price is C$14.69 and its two-hundred day moving average price is C$11.72. The company has a debt-to-equity ratio of 61.70, a current ratio of 3.02 and a quick ratio of 1.78.

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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