CES Energy Solutions (TSE:CEU) Hits New 52-Week High – Here’s Why

CES Energy Solutions Corp. (TSE:CEU)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$15.42 and last traded at C$15.33, with a volume of 38274 shares traded. The stock had previously closed at C$15.23.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CEU. National Bankshares upped their price target on CES Energy Solutions from C$13.00 to C$15.00 and gave the company an “outperform” rating in a research report on Friday, January 9th. Raymond James Financial cut CES Energy Solutions from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, November 17th. TD Securities lowered shares of CES Energy Solutions from a “buy” rating to a “hold” rating and increased their target price for the stock from C$12.00 to C$16.00 in a research report on Monday, January 26th. Scotiabank lifted their target price on shares of CES Energy Solutions from C$12.25 to C$16.00 in a research note on Thursday, January 29th. Finally, ATB Capital boosted their price target on shares of CES Energy Solutions from C$14.50 to C$16.50 and gave the company an “outperform” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$13.92.

CES Energy Solutions Stock Up 0.7%

The stock has a fifty day simple moving average of C$13.06 and a two-hundred day simple moving average of C$10.41. The firm has a market cap of C$3.26 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 0.61 and a beta of 0.96. The company has a current ratio of 2.82, a quick ratio of 1.78 and a debt-to-equity ratio of 57.26.

CES Energy Solutions (TSE:CEU) last announced its quarterly earnings results on Thursday, November 13th. The company reported C$0.18 earnings per share (EPS) for the quarter. The firm had revenue of C$623.22 million for the quarter. CES Energy Solutions had a net margin of 8.62% and a return on equity of 27.61%. As a group, sell-side analysts expect that CES Energy Solutions Corp. will post 0.8600646 EPS for the current fiscal year.

Insider Buying and Selling at CES Energy Solutions

In other news, insider Anthony Michael Aulicino purchased 4,545 shares of CES Energy Solutions stock in a transaction dated Tuesday, November 18th. The stock was purchased at an average cost of C$10.97 per share, for a total transaction of C$49,858.65. Following the transaction, the insider directly owned 1,222,367 shares of the company’s stock, valued at approximately C$13,409,365.99. This trade represents a 0.37% increase in their ownership of the stock. Also, insider Kenneth Earl Zinger purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was purchased at an average cost of C$10.93 per share, for a total transaction of C$54,650.00. Following the acquisition, the insider owned 1,872,857 shares of the company’s stock, valued at approximately C$20,470,327.01. This trade represents a 0.27% increase in their position. Insiders bought a total of 54,245 shares of company stock valued at $600,232 in the last three months. Company insiders own 3.03% of the company’s stock.

About CES Energy Solutions

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.