Brokerages Set Energy Recovery, Inc. (NASDAQ:ERII) PT at $20.75

Energy Recovery, Inc. (NASDAQ:ERII) has earned a consensus recommendation of “Buy” from the six research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $20.75.

A number of equities research analysts have commented on ERII shares. Evercore ISI decreased their price target on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. B. Riley lowered their price target on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Fearnley Fonds lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Scotiabank assumed coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They set a “buy” rating and a $22.00 price objective on the stock.

Insider Activity

In other Energy Recovery news, Director Arve Hanstveit sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total transaction of $337,400.00. Following the sale, the director now directly owns 743,182 shares in the company, valued at $12,537,480.34. This represents a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Rodney Clemente sold 4,207 shares of Energy Recovery stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $20.06, for a total value of $84,392.42. Following the completion of the transaction, the senior vice president now owns 106,367 shares of the company’s stock, valued at approximately $2,133,722.02. This trade represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,406 shares of company stock worth $1,166,088. 4.10% of the stock is currently owned by insiders.

Institutional Trading of Energy Recovery

A number of institutional investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. purchased a new stake in shares of Energy Recovery in the second quarter valued at $26,000. CWM LLC raised its position in Energy Recovery by 5,032.5% in the 3rd quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 4,177 shares during the period. AXA S.A. bought a new stake in Energy Recovery in the second quarter worth about $149,000. AQR Capital Management LLC boosted its position in shares of Energy Recovery by 19.8% during the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock valued at $159,000 after buying an additional 1,986 shares during the period. Finally, Pinnacle Associates Ltd. bought a new position in shares of Energy Recovery during the third quarter valued at approximately $193,000. 83.58% of the stock is currently owned by institutional investors.

Energy Recovery Trading Up 1.1 %

Shares of NASDAQ:ERII opened at $15.06 on Monday. The stock has a 50 day moving average of $16.55 and a 200 day moving average of $16.16. The company has a market cap of $871.88 million, a PE ratio of 44.29 and a beta of 1.18. Energy Recovery has a 12-month low of $12.26 and a 12-month high of $20.27.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $38.60 million during the quarter, compared to analyst estimates of $37.37 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. Equities research analysts predict that Energy Recovery will post 0.39 earnings per share for the current fiscal year.

About Energy Recovery

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.