CES Energy Solutions Corp. (TSE:CEU) Stock Has Average Price Target of C$19.72 According to Brokerages

Key Points

• Analysts hold a “Moderate Buy” consensus on CES Energy Solutions, with six buy ratings and two holds. The average 12-month price target is C$19.72, while recent targets range as high as C$25.00.
• Several brokerages recently upgraded or raised their targets, including National Bank Financial, BMO Capital Markets, Raymond James, and Scotia; TD lowered its target to C$18.00 and maintained a hold rating.
• Insiders have been net sellers: insiders sold 238,223 shares worth approximately C$4.32 million over the past 90 days. The stock opened at C$18.28, compared with a 52-week range of C$8.63 to C$20.38.

Shares of CES Energy Solutions Corp. (TSE:CEU - Get Free Report) have received an average rating of "Moderate Buy" from the eight brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$19.72.

A number of brokerages recently issued reports on CEU. National Bank Financial upgraded 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. BMO Capital Markets raised CES Energy Solutions from a "market perform" rating to an "outperform" rating and increased their price objective for the company from C$21.00 to C$22.00 in a report on Wednesday, June 24th. TD cut their price objective on CES Energy Solutions from C$19.00 to C$18.00 and set a "hold" rating on the stock in a research note on Monday, July 13th. Raymond James Financial boosted their target price on CES Energy Solutions from C$23.00 to C$25.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Finally, Scotia increased their price target on CES Energy Solutions from C$21.00 to C$22.00 and gave the company a "sector outperform" rating in a report on Monday, August 10th.

Insider Activity

In related news, insider David Allyn Burroughs sold 28,815 shares of the business's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of C$16.04, for a total transaction of C$462,192.60. Also, insider James Farnsworth Strickland sold 4,044 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of C$16.04, for a total value of C$64,865.76. Following the sale, the insider owned 38,231 shares of the company's stock, valued at approximately C$613,225.24. The trade was a 9.57% decrease in their position. Over the last 90 days, insiders have sold 238,223 shares of company stock worth $4,319,581. Insiders own 3.03% of the company's stock.

CES Energy Solutions Stock Performance

TSE:CEU opened at C$18.28 on Monday. The company has a market capitalization of C$3.83 billion, a P/E ratio of 19.87, a P/E/G ratio of 0.61 and a beta of 0.81. The stock's 50 day moving average price is C$18.30 and its 200 day moving average price is C$17.82. The company has a debt-to-equity ratio of 55.36, a quick ratio of 1.78 and a current ratio of 2.70. CES Energy Solutions has a 52 week low of C$8.63 and a 52 week high of C$20.38.

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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