Enviri Corporation (NYSE:NVRI) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Broker consensus is “Hold”: Of five analysts covering Enviri, three rate it Hold, one Sell and one Buy. The average 12-month price target is $24.50, compared with the stock’s reported price of $22.35.
• Recent earnings missed expectations: Enviri reported a quarterly loss of $0.63 per share versus the expected $0.31 loss, while revenue fell 66.7% year over year to $324 million, below the $370.97 million forecast.
• Insiders bought shares: A director and the CFO purchased a combined 7,821 shares worth approximately $159,458. Institutional investors own 93.43% of Enviri’s outstanding stock.

Shares of Enviri Corporation (NYSE:NVRI - Get Free Report) have been assigned a consensus recommendation of "Hold" from the five brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $24.50.

A number of brokerages recently weighed in on NVRI. Weiss Ratings upgraded shares of Enviri from a "sell (d-)" rating to a "sell (d)" rating in a report on Tuesday, August 25th. BMO Capital Markets upped their target price on shares of Enviri from $21.00 to $24.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen lowered shares of Enviri from a "hold" rating to a "sell" rating in a research report on Saturday.

Insider Buying and Selling

In other news, Director Carolann Haznedar acquired 4,875 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average price of $20.46 per share, with a total value of $99,742.50. Following the completion of the purchase, the director directly owned 42,955 shares in the company, valued at $878,859.30. This trade represents a 12.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Peter Minan acquired 2,946 shares of Enviri stock in a transaction on Tuesday, August 18th. The shares were purchased at an average price of $20.27 per share, for a total transaction of $59,715.42. Following the completion of the acquisition, the chief financial officer directly owned 97,505 shares in the company, valued at $1,976,426.35. This trade represents a 3.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Institutional Trading of Enviri

Several institutional investors and hedge funds have recently made changes to their positions in NVRI. Integrated Wealth Concepts LLC bought a new position in Enviri during the 2nd quarter worth about $25,000. Advisory Services Network LLC bought a new position in shares of Enviri during the 3rd quarter worth approximately $27,000. KBC Group NV purchased a new position in Enviri in the first quarter worth $31,000. Rockefeller Capital Management L.P. increased its position in shares of Enviri by 204.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,882 shares of the company's stock worth $34,000 after purchasing an additional 1,264 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Enviri during the 2nd quarter valued at $46,000. 93.43% of the stock is currently owned by institutional investors.

Enviri Trading Up 0.2%

NVRI stock opened at $22.35 on Monday. The business's fifty day simple moving average is $22.17 and its two-hundred day simple moving average is $20.52. Enviri has a twelve month low of $11.15 and a twelve month high of $24.20.

Enviri (NYSE:NVRI - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.32). The firm had revenue of $324.00 million for the quarter, compared to analysts' expectations of $370.97 million. The company's revenue for the quarter was down 66.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 earnings per share. Analysts forecast that Enviri will post -1.55 EPS for the current year.

About Enviri

Enviri Corporation, formerly known as Harsco Corporation, is an environmental solutions company that provides services for managing, processing and recycling industrial and regulated waste. The company serves customers in industries such as steelmaking, manufacturing, construction, energy and healthcare.

Enviri's Harsco Environmental business supports steel producers with services that include the handling and processing of steel slag and other byproducts, metal recovery, material recycling and the production of processed aggregates and other products.

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