Enviri (NYSE:NVRI) Hits New 12-Month High After Strong Earnings

Enviri Corporation (NYSE:NVRI)’s share price hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The company traded as high as $24.39 and last traded at $24.2150, with a volume of 161,308 shares changing hands. The stock had previously closed at $23.36.

The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.38. The company had revenue of $325.03 million for the quarter, compared to analysts’ expectations of $317.13 million. The firm’s revenue was down 43.5% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several research firms have commented on NVRI. Weiss Ratings downgraded Enviri from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, October 14th. BMO Capital Markets upped their target price on Enviri from $21.00 to $24.00 and gave the stock a “market perform” rating in a report on Wednesday, August 12th. Finally, Wall Street Zen downgraded Enviri from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Enviri presently has an average rating of “Hold” and a consensus price target of $24.50.

Insider Buying and Selling

In other Enviri news, Director Carolann I. Haznedar acquired 4,875 shares of Enviri stock in a transaction that occurred on Monday, August 17th. The stock was bought at an average price of $20.46 per share, with a total value of $99,742.50. Following the completion of the purchase, the director directly owned 42,955 shares of the company’s stock, valued at approximately $878,859.30. This represents a 12.80% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter Minan bought 2,946 shares of the stock in a transaction on Tuesday, August 18th. The shares were bought at an average price of $20.27 per share, with a total value of $59,715.42. Following the acquisition, the chief financial officer owned 97,505 shares of the company’s stock, valued at $1,976,426.35. This trade represents a 3.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NVRI. Bank of America Corp DE lifted its stake in shares of Enviri by 333.0% during the 1st quarter. Bank of America Corp DE now owns 912,015 shares of the company’s stock worth $17,894,000 after purchasing an additional 701,365 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Enviri in the 2nd quarter worth approximately $2,004,000. Newtyn Management LLC acquired a new stake in shares of Enviri during the second quarter worth $8,214,000. Kintayl Capital LP purchased a new stake in Enviri during the 2nd quarter valued at about $1,213,000. Finally, OMERS ADMINISTRATION Corp increased its holdings in Enviri by 183.8% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 921,561 shares of the company’s stock worth $18,081,000 after buying an additional 596,861 shares during the period. 93.43% of the stock is currently owned by hedge funds and other institutional investors.

Enviri Price Performance

The company has a quick ratio of 1.19, a current ratio of 1.43 and a debt-to-equity ratio of 0.56. The stock has a market cap of $679.52 million and a price-to-earnings ratio of -38.26. The stock’s 50 day moving average price is $20.47 and its two-hundred day moving average price is $20.19.

Enviri Company Profile

Enviri Corporation (NYSE: NVRI) is an environmental solutions company that provides services and products designed to help industrial, commercial and government customers manage waste, recover materials and improve resource efficiency. The company serves customers in multiple regions, with operations spanning North America, Europe and other international markets.

Enviri’s Harsco Environmental business provides environmental services to the global steel industry. Its activities include the processing and beneficial reuse of steel slag and other byproducts, metal recovery, slag handling, site services and the production of mineral-based products used in areas such as construction and infrastructure.

Through its Clean Earth business, Enviri manages hazardous and non-hazardous waste streams for industrial, healthcare, pharmaceutical, retail and government customers.