Energy Recovery (NASDAQ:ERII) Now Covered by Raymond James

Analysts at Raymond James initiated coverage on shares of Energy Recovery (NASDAQ:ERII) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage set an “outperform” rating and a $12.00 price target on the industrial products company’s stock. Raymond James’ price objective would indicate a potential upside of 24.48% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Evercore ISI restated a “buy” rating and issued a $18.00 price objective on shares of Energy Recovery in a report on Thursday, August 8th. ValuEngine downgraded Energy Recovery from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. JMP Securities set a $15.00 price objective on Energy Recovery and gave the stock a “buy” rating in a report on Thursday, October 10th. Zacks Investment Research downgraded Energy Recovery from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, BidaskClub downgraded Energy Recovery from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $14.20.

NASDAQ ERII opened at $9.64 on Wednesday. The business’s 50-day moving average price is $9.55 and its 200 day moving average price is $9.92. Energy Recovery has a twelve month low of $6.17 and a twelve month high of $12.04. The company has a market capitalization of $544.15 million, a PE ratio of 48.20 and a beta of 4.31. The company has a current ratio of 5.09, a quick ratio of 4.76 and a debt-to-equity ratio of 0.09.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Thursday, August 1st. The industrial products company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02. Energy Recovery had a return on equity of 10.89% and a net margin of 20.21%. The firm had revenue of $22.80 million for the quarter, compared to the consensus estimate of $20.53 million. During the same period in the prior year, the business posted $0.07 earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts predict that Energy Recovery will post 0.12 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in ERII. River & Mercantile Asset Management LLP purchased a new position in shares of Energy Recovery in the 2nd quarter worth about $3,059,000. KBC Group NV raised its holdings in shares of Energy Recovery by 508.9% in the 2nd quarter. KBC Group NV now owns 313,451 shares of the industrial products company’s stock worth $3,266,000 after purchasing an additional 261,971 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Energy Recovery by 104.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 482,965 shares of the industrial products company’s stock worth $5,033,000 after purchasing an additional 247,287 shares during the period. Morgan Stanley grew its stake in shares of Energy Recovery by 85.2% in the second quarter. Morgan Stanley now owns 278,187 shares of the industrial products company’s stock valued at $2,899,000 after buying an additional 127,992 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Energy Recovery by 4.5% in the second quarter. BlackRock Inc. now owns 2,518,679 shares of the industrial products company’s stock valued at $26,245,000 after buying an additional 107,783 shares in the last quarter. Institutional investors own 33.32% of the company’s stock.

About Energy Recovery

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for small- to medium-sized desalination plants.

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Analyst Recommendations for Energy Recovery (NASDAQ:ERII)

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