Enviri (NYSE:NVRI) Hits New 52-Week High - Here's Why

Key Points

• Enviri shares reached a new 52-week high, trading as high as $23.67 and last at $23.9050, above the prior close of $23.15.
• Analyst sentiment remains cautious: the stock carries an average “Hold” rating and an average price target of $22.25, below its recent trading level.
• Enviri’s latest quarterly results exceeded expectations, with EPS of $0.10 versus a consensus loss estimate of $0.26 and revenue of $549.8 million versus expectations of $465.37 million.

Enviri Corporation (NYSE:NVRI - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $23.67 and last traded at $23.9050, with a volume of 64491 shares. The stock had previously closed at $23.15.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Enviri in a report on Tuesday, April 21st. BMO Capital Markets raised their target price on Enviri from $19.00 to $19.50 and gave the company a "market perform" rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen raised Enviri to a "hold" rating in a research report on Saturday, June 13th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $22.25.

Enviri Price Performance

The stock has a market capitalization of $671.43 million, a P/E ratio of -11.50 and a beta of 1.59. The business's 50 day simple moving average is $21.67 and its two-hundred day simple moving average is $19.92. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 5.66.

Enviri (NYSE:NVRI - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.26) by $0.36. Enviri had a negative net margin of 7.50% and a negative return on equity of 8.59%. The company had revenue of $549.80 million during the quarter, compared to the consensus estimate of $465.37 million. During the same period in the previous year, the firm posted ($0.18) earnings per share. The firm's revenue for the quarter was up .3% on a year-over-year basis. As a group, sell-side analysts forecast that Enviri Corporation will post -0.45 earnings per share for the current fiscal year.

Enviri Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, June 1st. Investors of record on Friday, January 1st were paid a dividend of $15.00 per share. The ex-dividend date was Monday, June 1st.

Insider Buying and Selling

In related news, CFO Peter Francis Minan bought 8,333 shares of Enviri stock in a transaction on Friday, June 5th. The stock was acquired at an average price of $19.25 per share, with a total value of $160,410.25. Following the acquisition, the chief financial officer directly owned 16,434 shares of the company's stock, valued at $316,354.50. This represents a 102.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Enviri

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in Enviri by 333.0% in the 1st quarter. Bank of America Corp DE now owns 912,015 shares of the company's stock valued at $17,894,000 after purchasing an additional 701,365 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of Enviri in the first quarter worth $5,935,000. California State Teachers Retirement System boosted its stake in Enviri by 37.0% during the first quarter. California State Teachers Retirement System now owns 94,472 shares of the company's stock valued at $1,854,000 after buying an additional 25,529 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Enviri by 48.7% during the first quarter. The Manufacturers Life Insurance Company now owns 33,838 shares of the company's stock valued at $664,000 after buying an additional 11,076 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in Enviri by 6.3% during the first quarter. Quantinno Capital Management LP now owns 53,336 shares of the company's stock valued at $1,046,000 after buying an additional 3,139 shares during the period. Institutional investors own 93.43% of the company's stock.

Enviri Company Profile

Enviri Inc NYSE: NVRI is a provider of environmental monitoring, data intelligence and sustainability solutions for critical infrastructure and industrial operations. The company integrates Internet of Things (IoT) sensor hardware, cloud-based analytics and field services to collect, process and visualize environmental data. Enviri’s platform supports real-time monitoring and historical trend analysis across water, air and wastewater streams to help clients meet regulatory requirements and manage environmental risk.

Enviri’s product suite includes ruggedized sensor networks, remote data loggers, automated sampling systems and a web-based analytics portal.

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