Energy Recovery, Inc. (NASDAQ:ERII) Given Consensus Recommendation of "Buy" by Analysts

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) has been assigned a consensus recommendation of "Buy" from the six analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, two have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $18.88.

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Fearnley Fonds upgraded Energy Recovery from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. Finally, B. Riley downgraded Energy Recovery from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $20.00 to $12.50 in a report on Thursday, May 8th.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, Director Pamela L. Tondreau purchased 4,200 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was bought at an average cost of $12.28 per share, for a total transaction of $51,576.00. Following the completion of the purchase, the director owned 41,043 shares in the company, valued at $504,008.04. This represents a 11.40% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Moon purchased 4,200 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was acquired at an average price of $12.20 per share, with a total value of $51,240.00. Following the completion of the purchase, the chief executive officer owned 36,950 shares of the company's stock, valued at $450,790. The trade was a 12.82% increase in their position. The disclosure for this purchase can be found here. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. lifted its holdings in shares of Energy Recovery by 24.6% in the 4th quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company's stock valued at $72,823,000 after purchasing an additional 978,490 shares during the last quarter. Select Equity Group L.P. lifted its holdings in shares of Energy Recovery by 403.5% in the 1st quarter. Select Equity Group L.P. now owns 667,157 shares of the industrial products company's stock valued at $10,601,000 after purchasing an additional 534,662 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Energy Recovery in the 4th quarter valued at about $5,741,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Energy Recovery in the 4th quarter valued at about $4,670,000. Finally, Duff & Phelps Investment Management Co. purchased a new stake in shares of Energy Recovery in the 4th quarter valued at about $3,798,000. 83.58% of the stock is owned by institutional investors and hedge funds.

Energy Recovery Price Performance

Shares of NASDAQ ERII opened at $13.20 on Monday. Energy Recovery has a one year low of $10.86 and a one year high of $20.27. The firm's 50 day simple moving average is $12.96 and its two-hundred day simple moving average is $14.35. The stock has a market capitalization of $719.40 million, a P/E ratio of 35.68 and a beta of 1.01.

Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.16). Energy Recovery had a return on equity of 9.96% and a net margin of 15.21%. The firm had revenue of $8.07 million during the quarter, compared to the consensus estimate of $21.97 million. During the same quarter in the prior year, the business posted ($0.08) EPS. The firm's revenue for the quarter was down 33.1% on a year-over-year basis. As a group, equities analysts expect that Energy Recovery will post 0.36 earnings per share for the current fiscal year.

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.

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