CES Energy Solutions (TSE:CEU) Hits New 1-Year High – Here’s Why

CES Energy Solutions Corp. (TSE:CEU) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$19.64 and last traded at C$19.56, with a volume of 239539 shares trading hands. The stock had previously closed at C$19.24.

Analysts Set New Price Targets

Several brokerages recently commented on CEU. Royal Bank Of Canada raised their target price on CES Energy Solutions from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 14th. TD lowered their price target on shares of CES Energy Solutions from C$19.00 to C$18.00 and set a “hold” rating on the stock in a report on Monday, July 13th. BMO Capital Markets upgraded shares of CES Energy Solutions from a “market perform” rating to an “outperform” rating and increased their price objective for the company from C$21.00 to C$22.00 in a research note on Wednesday, June 24th. Scotia raised their price objective on shares of CES Energy Solutions from C$21.00 to C$22.00 and gave the stock a “sector outperform” rating in a report on Monday. Finally, National Bank Financial upgraded shares of CES Energy Solutions from a “hold” rating to an “outperform” rating and set a C$20.00 target price on the stock in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, CES Energy Solutions has a consensus rating of “Moderate Buy” and a consensus target price of C$19.72.

CES Energy Solutions Stock Performance

The company has a debt-to-equity ratio of 55.36, a quick ratio of 1.78 and a current ratio of 2.70. The firm has a 50 day moving average price of C$16.68 and a two-hundred day moving average price of C$17.07. The company has a market capitalization of C$4.10 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 0.61 and a beta of 0.50.

Insider Activity

In other news, insider David Allyn Burroughs sold 28,815 shares of the business’s 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$462,192.60. Also, insider Kenneth Earl Zinger bought 10,000 shares of the stock in a transaction dated Monday, June 22nd. The stock was purchased at an average cost of C$15.00 per share, for a total transaction of C$150,000.00. Following the acquisition, the insider owned 1,682,857 shares in the company, valued at C$25,242,855. The trade was a 0.60% increase in their position. Over the last ninety days, insiders sold 205,683 shares of company stock valued at $3,684,499. 3.03% of the stock is owned by company insiders.

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.