CES Energy Solutions (TSE:CEU) Hits New 12-Month High - Here's Why

Key Points

• CES Energy Solutions shares reached a new 52-week high, trading as high as C$19.86 and recently rising 2.3%. The company has a C$4.13 billion market capitalization and trades at a P/E ratio of 21.38.
• Analyst sentiment is broadly positive: six analysts rate the stock a Buy and two rate it a Hold, producing a “Moderate Buy” consensus and an average price target of C$19.72. Several firms recently raised their targets, including Raymond James to C$25.00.
• Insiders have been selling shares, with company insiders selling 71,883 shares worth approximately C$1.15 million over the past 90 days. Insiders retain a 3.03% ownership stake.

CES Energy Solutions Corp. (TSE:CEU - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as C$19.86 and last traded at C$19.67, with a volume of 81769 shares. The stock had previously closed at C$19.22.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CEU. Raymond James Financial raised their price objective on shares of CES Energy Solutions from C$23.00 to C$25.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Scotia increased their price target on shares of CES Energy Solutions from C$21.00 to C$22.00 and gave the stock a "sector outperform" rating in a research report on Monday, August 10th. BMO Capital Markets upgraded shares of CES Energy Solutions from a "market perform" rating to an "outperform" rating and raised their price target for the stock from C$21.00 to C$22.00 in a research note on Wednesday, June 24th. National Bank Financial raised CES Energy Solutions from a "hold" rating to an "outperform" rating and set a C$20.00 price objective on the stock in a report on Friday, August 7th. Finally, TD cut their target price on CES Energy Solutions from C$19.00 to C$18.00 and set a "hold" rating for the company in a research report on Monday, July 13th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, CES Energy Solutions has an average rating of "Moderate Buy" and an average price target of C$19.72.

CES Energy Solutions Trading Up 2.3%

The company has a current ratio of 2.70, a quick ratio of 1.78 and a debt-to-equity ratio of 55.36. The stock has a market cap of C$4.13 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 0.61 and a beta of 0.81. The business's fifty day simple moving average is C$17.61 and its 200 day simple moving average is C$17.61.

Insider Activity at CES Energy Solutions

In other CES Energy Solutions news, insider Mihir Patel sold 12,184 shares of the company's stock in a transaction on Monday, July 6th. The shares were sold at an average price of C$16.04, for a total transaction of C$195,431.36. Following the completion of the sale, the insider owned 16,571 shares in the company, valued at approximately C$265,798.84. The trade was a 42.37% decrease in their position. Also, insider Matthew Stephen Bell sold 26,840 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of C$16.04, for a total value of C$430,513.60. Following the completion of the transaction, the insider directly owned 17,000 shares in the company, valued at approximately C$272,680. This trade represents a 61.22% decrease in their position. Insiders have sold 71,883 shares of company stock worth $1,153,003 over the last 90 days. Insiders own 3.03% of the company's stock.

CES Energy Solutions Company Profile

CES is a leading provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and finally through to the pipeline and midstream market. CES' business model is relatively asset light and requires limited re-investment capital to grow. As a result, CES has been able to capitalize on the growing market demand for drilling fluids and production and specialty chemicals in North America while generating free cash flow.

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