Enviri Corporation (NYSE:NVRI) Stock Has Consensus Target Price of $24.50

Key Points

• Analysts hold a neutral view: Enviri has a consensus “Hold” rating from five firms, with a $24.50 average 12-month price target versus the reported share price of $17.97.
• Recent results were weaker than expected: The company reported a quarterly loss of $0.63 per share, missing estimates by $0.32, while revenue fell 66.7% year over year to $324 million.
• Institutional ownership remains high: Institutions and hedge funds own 93.43% of Enviri, while company insiders own 2.50%; the CFO and a director recently purchased shares.

Enviri Corporation (NYSE:NVRI - Get Free Report) has been assigned an average recommendation of "Hold" from the five ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $24.50.

Several research firms recently issued reports on NVRI. Weiss Ratings cut shares of Enviri from a "sell (d)" rating to a "sell (d-)" rating in a research report on Wednesday, October 14th. Wall Street Zen lowered shares of Enviri from a "hold" rating to a "sell" rating in a research report on Saturday, September 12th. Finally, BMO Capital Markets increased their price target 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.

Enviri Price Performance

Shares of NYSE:NVRI opened at $17.97 on Tuesday. The company has a market cap of $506.69 million and a P/E ratio of -28.53. The company has a quick ratio of 1.19, a current ratio of 1.43 and a debt-to-equity ratio of 0.56. Enviri has a 52 week low of $11.15 and a 52 week high of $24.20. The business has a fifty day simple moving average of $20.53 and a 200-day simple moving average of $20.15.

Enviri (NYSE:NVRI - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.32). The business had revenue of $324.00 million during the quarter, compared to the consensus estimate of $370.97 million. During the same period last year, the business earned $0.22 EPS. Enviri's revenue for the quarter was down 66.7% compared to the same quarter last year. Equities research analysts forecast that Enviri will post -1.55 EPS for the current year.

Insider Transactions at Enviri

In other news, CFO Peter Minan purchased 2,946 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was bought at an average cost of $20.27 per share, for a total transaction of $59,715.42. Following the completion of the purchase, the chief financial officer directly owned 97,505 shares of the company's stock, valued at $1,976,426.35. The trade was a 3.12% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carolann Haznedar purchased 4,875 shares of the company's stock in a transaction on Monday, August 17th. The shares were purchased 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 of the company's stock, valued at $878,859.30. The trade was a 12.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.50% of the stock is currently owned by insiders.

Institutional Trading of Enviri

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CenterBook Partners LP raised its stake in shares of Enviri by 111.2% during the third quarter. CenterBook Partners LP now owns 79,669 shares of the company's stock valued at $1,556,000 after purchasing an additional 41,944 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Enviri during the second quarter worth $25,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Enviri in the second quarter valued at $491,000. Newtyn Management LLC purchased a new position in shares of Enviri in the second quarter valued at $8,214,000. Finally, Ancora Advisors LLC purchased a new position in shares of Enviri in the second quarter valued at $875,000. Institutional investors and hedge funds own 93.43% of the company's stock.

About Enviri

Enviri Corporation NYSE: NVRI is an environmental solutions company that provides services and products designed to help industrial, commercial and government customers manage waste, recover materials and improve resource efficiency. The company serves customers in multiple regions, with operations spanning North America, Europe and other international markets.

Enviri's Harsco Environmental business provides environmental services to the global steel industry. Its activities include the processing and beneficial reuse of steel slag and other byproducts, metal recovery, slag handling, site services and the production of mineral-based products used in areas such as construction and infrastructure.

Through its Clean Earth business, Enviri manages hazardous and non-hazardous waste streams for industrial, healthcare, pharmaceutical, retail and government customers.

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