CES Energy Solutions (TSE:CEU) Hits New 52-Week High – Time to Buy?

CES Energy Solutions Corp. (TSE:CEU) shares reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as C$20.21 and last traded at C$19.91, with a volume of 411,609 shares trading hands. The stock had previously closed at C$20.06.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. National Bank Financial raised shares of CES Energy Solutions from a “hold” rating to an “outperform” rating and set a C$20.00 price target on the stock in a report on Friday, August 7th. Raymond James Financial boosted their price objective on shares of CES Energy Solutions from C$23.00 to C$25.00 and gave the company an “outperform” rating in a report on Monday, August 10th. TD cut their target price on shares of 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. BMO Capital Markets raised shares of CES Energy Solutions from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from C$21.00 to C$22.00 in a research report on Wednesday, June 24th. Finally, Scotia boosted their target price on shares of CES Energy Solutions from C$21.00 to C$22.00 and gave the company a “sector outperform” rating in a research note on Monday, August 10th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$19.72.

CES Energy Solutions Stock Performance

The business has a fifty day simple moving average of C$18.83 and a two-hundred day simple moving average of C$17.85. The company has a quick ratio of 1.78, a current ratio of 2.70 and a debt-to-equity ratio of 55.36. The company has a market cap of C$4.15 billion, a P/E ratio of 21.49, a P/E/G ratio of 0.61 and a beta of 0.94.

CES Energy Solutions (TSE:CEU) last released its quarterly earnings results on Thursday, August 6th. The company reported C$0.18 earnings per share (EPS) for the quarter. CES Energy Solutions had a return on equity of 23.68% and a net margin of 7.36%. The business had revenue of C$714.08 million during the quarter. On average, sell-side analysts anticipate that CES Energy Solutions Corp. will post 0.86 EPS for the current year.

Insider Activity

In related news, Director John Michael Hooks sold 87,640 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of C$18.98, for a total value of C$1,663,407.20. Following the transaction, the director owned 866,051 shares of the company’s stock, valued at approximately C$16,437,647.98. This trade represents a 9.19% decrease in their ownership of the stock. 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.