Energy Recovery, Inc. (NASDAQ:ERII) Receives $18.75 Consensus Price Target from Analysts

Key Points

• Energy Recovery, Inc. has received a consensus rating of "Buy" from six analysts, with an average 1-year target price of $18.75.
• Insider transactions included William Yeung selling 33,554 shares at $14.51 each, decreasing his ownership by 25.63%.
• Institutional investors own 83.58% of Energy Recovery stock, with significant increases in holdings reported by various funds during the second quarter.

Shares of Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) have received a consensus rating of "Buy" from the six brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $18.75.

A number of analysts have recently commented on the company. B. Riley upped their price target on Energy Recovery from $12.50 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. CJS Securities assumed coverage on Energy Recovery in a research note on Tuesday, September 16th. They issued a "market outperform" rating and a $19.00 price target for the company.

Energy Recovery Price Performance

Shares of ERII traded down $0.45 during trading hours on Friday, hitting $14.69. The stock had a trading volume of 1,136,452 shares, compared to its average volume of 382,393. The company's fifty day moving average is $14.11 and its two-hundred day moving average is $14.06. Energy Recovery has a 52 week low of $10.86 and a 52 week high of $20.27. The stock has a market capitalization of $781.48 million, a price-to-earnings ratio of 34.98 and a beta of 1.01.

Insider Activity at Energy Recovery

In related news, SVP Rodney Clemente sold 5,387 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $13.97, for a total transaction of $75,256.39. Following the transaction, the senior vice president directly owned 100,765 shares in the company, valued at approximately $1,407,687.05. The trade was a 5.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Yeung sold 33,554 shares of Energy Recovery stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $14.51, for a total transaction of $486,868.54. Following the transaction, the insider directly owned 97,369 shares of the company's stock, valued at approximately $1,412,824.19. This trade represents a 25.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Energy Recovery

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. lifted its holdings in shares of Energy Recovery by 5.1% during the second quarter. Ameriprise Financial Inc. now owns 5,401,044 shares of the industrial products company's stock worth $69,025,000 after buying an additional 262,151 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Energy Recovery by 7.5% during the first quarter. Vanguard Group Inc. now owns 3,494,872 shares of the industrial products company's stock worth $55,534,000 after buying an additional 242,494 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Energy Recovery by 12.9% during the second quarter. Legal & General Group Plc now owns 989,154 shares of the industrial products company's stock worth $12,641,000 after buying an additional 113,141 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Energy Recovery by 42.6% during the second quarter. Invesco Ltd. now owns 861,344 shares of the industrial products company's stock worth $11,008,000 after buying an additional 257,266 shares in the last quarter. Finally, Select Equity Group L.P. raised its stake in Energy Recovery by 15.4% in the second quarter. Select Equity Group L.P. now owns 769,706 shares of the industrial products company's stock valued at $9,837,000 after purchasing an additional 102,549 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company's stock.

Energy Recovery Company Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.