Zacks Investment Research Lowers Profire Energy (NASDAQ:PFIE) to Sell

Zacks Investment Research downgraded shares of Profire Energy (NASDAQ:PFIE) from a hold rating to a sell rating in a research note published on Friday, Zacks.com reports.

According to Zacks, “Profire Energy, Inc. manufactures, installs and services oilfield combustion management systems and related burner products. The Company’s products aid oil and natural gas producers in the safe and efficient development and transportation of carbon-based fuels. Its products include Profire 2100 and the Profire 1100, Profire 1100i and fuel-trains or valve-trains, which comprise piping, valves, and controls related to the process of providing fuel to burners, as well as having safety controllers to monitor operations. Profire Energy, Inc. is based in Lindon, Utah. “

Several other brokerages have also commented on PFIE. Aegis began coverage on shares of Profire Energy in a research report on Monday, July 8th. They issued a buy rating and a $4.00 price objective for the company. ValuEngine lowered shares of Profire Energy from a sell rating to a strong sell rating in a research report on Thursday, August 8th. Finally, TheStreet lowered shares of Profire Energy from a b- rating to a c+ rating in a research report on Tuesday, May 21st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Profire Energy presently has a consensus rating of Hold and an average target price of $3.92.



Shares of Profire Energy stock opened at $1.71 on Friday. The firm has a market capitalization of $87.82 million, a P/E ratio of 14.25 and a beta of 1.61. The company has a 50 day moving average price of $1.45 and a 200 day moving average price of $1.58. Profire Energy has a 52 week low of $1.16 and a 52 week high of $3.64.

Profire Energy (NASDAQ:PFIE) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The company had revenue of $10.12 million during the quarter, compared to analysts’ expectations of $11.05 million. Profire Energy had a net margin of 11.95% and a return on equity of 11.17%. As a group, analysts anticipate that Profire Energy will post 0.09 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of PFIE. Deutsche Bank AG raised its position in Profire Energy by 397.3% during the 4th quarter. Deutsche Bank AG now owns 240,586 shares of the oil and gas company’s stock worth $348,000 after buying an additional 192,211 shares during the last quarter. Penn Capital Management Co. Inc. raised its position in Profire Energy by 5.5% during the 1st quarter. Penn Capital Management Co. Inc. now owns 211,643 shares of the oil and gas company’s stock worth $379,000 after buying an additional 11,001 shares during the last quarter. Cadence Capital Management LLC raised its position in Profire Energy by 1.8% during the 1st quarter. Cadence Capital Management LLC now owns 720,322 shares of the oil and gas company’s stock worth $1,289,000 after buying an additional 12,880 shares during the last quarter. Acadian Asset Management LLC raised its position in Profire Energy by 8.4% during the 1st quarter. Acadian Asset Management LLC now owns 245,662 shares of the oil and gas company’s stock worth $440,000 after buying an additional 19,083 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC raised its position in Profire Energy by 59.2% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 795,647 shares of the oil and gas company’s stock worth $1,424,000 after buying an additional 295,807 shares during the last quarter. 41.21% of the stock is owned by institutional investors.

Profire Energy Company Profile

Profire Energy, Inc, an oilfield technology company, provides burner- and chemical-management products and services for the oil and gas industry in North America. It assists energy production companies in the production and transportation of oil and natural gas. Its products include PF3100, a burner-management system, which is designed to operate, monitor, control, and manage various complex and multi-faceted oilfield appliances; safety and monitoring devices, such as shut-down and temperature valves, pressure transmitters and switches, burners, pilots, and other combustion related equipment; and chemical-management systems to monitor and manage chemical-injection process to ensure that optimal levels of chemicals are injected.

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