Energy Recovery (NASDAQ:ERII) Given New $20.00 Price Target at Evercore ISI

Energy Recovery (NASDAQ:ERII) had its price target reduced by stock analysts at Evercore ISI from $23.00 to $20.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Evercore ISI’s target price would indicate a potential upside of 27.88% from the company’s current price.

A number of other research analysts have also weighed in on the company. StockNews.com upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Fearnley Fonds lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, B. Riley reduced their price objective on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.33.

Energy Recovery Trading Up 6.7 %

NASDAQ ERII opened at $15.64 on Tuesday. Energy Recovery has a 12 month low of $12.26 and a 12 month high of $20.27. The stock has a market cap of $905.40 million, a PE ratio of 46.00 and a beta of 1.22. The stock’s 50 day moving average is $17.78 and its 200 day moving average is $15.67.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. The firm had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 earnings per share. On average, analysts forecast that Energy Recovery will post 0.41 EPS for the current fiscal year.

Insider Transactions at Energy Recovery

In other news, CTO Farshad Ghasripoor sold 10,526 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $189,152.22. Following the transaction, the chief technology officer now owns 126,961 shares of the company’s stock, valued at approximately $2,281,489.17. The trade was a 7.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Rodney Clemente sold 4,207 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $20.06, for a total value of $84,392.42. Following the sale, the senior vice president now owns 106,367 shares in the company, valued at $2,133,722.02. The trade was a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,406 shares of company stock worth $828,688 in the last three months. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ERII. The Manufacturers Life Insurance Company lifted its holdings in shares of Energy Recovery by 6.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company’s stock worth $294,000 after acquiring an additional 1,330 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Energy Recovery by 8.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company’s stock worth $307,000 after purchasing an additional 1,433 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Energy Recovery by 2.0% during the second quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock valued at $1,270,000 after buying an additional 1,893 shares during the period. Hantz Financial Services Inc. bought a new position in shares of Energy Recovery during the second quarter valued at approximately $26,000. Finally, AQR Capital Management LLC raised its holdings in shares of Energy Recovery by 19.8% in the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock worth $159,000 after buying an additional 1,986 shares during the period. Institutional investors 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.