Energy Recovery, Inc. (NASDAQ:ERII) Receives Average Recommendation of “Buy” from Analysts

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have earned an average rating of “Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $20.75.

ERII has been the subject of a number of recent analyst reports. Scotiabank began coverage on Energy Recovery in a report on Thursday, December 5th. They set a “buy” rating and a $22.00 price target for the company. StockNews.com raised Energy Recovery from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th.

Insiders Place Their Bets

In other news, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total transaction of $817,000.00. Following the completion of the transaction, the director now directly owns 693,182 shares in the company, valued at $11,326,593.88. This trade represents a 6.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the sale, the senior vice president now owns 111,109 shares in the company, valued at $1,713,300.78. This represents a 16.18 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Energy Recovery

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ERII. Charles Schwab Investment Management Inc. boosted its position in shares of Energy Recovery by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 468,639 shares of the industrial products company’s stock valued at $8,150,000 after buying an additional 7,440 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Energy Recovery by 10.6% during the 3rd quarter. HighTower Advisors LLC now owns 33,239 shares of the industrial products company’s stock worth $578,000 after acquiring an additional 3,176 shares during the last quarter. Barclays PLC grew its stake in shares of Energy Recovery by 376.6% in the 3rd quarter. Barclays PLC now owns 96,677 shares of the industrial products company’s stock worth $1,681,000 after acquiring an additional 76,393 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Energy Recovery by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock valued at $23,631,000 after purchasing an additional 56,306 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Energy Recovery by 66.6% in the third quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company’s stock valued at $4,780,000 after purchasing an additional 109,847 shares during the last quarter. 83.58% of the stock is owned by institutional investors.

Energy Recovery Price Performance

Shares of ERII opened at $15.95 on Friday. The business has a 50-day moving average of $15.33 and a 200-day moving average of $16.19. The company has a market capitalization of $876.53 million, a price-to-earnings ratio of 46.91 and a beta of 1.21. Energy Recovery has a 1 year low of $12.26 and a 1 year high of $20.27.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm had revenue of $67.08 million for the quarter, compared to the consensus estimate of $67.39 million. As a group, sell-side analysts anticipate that Energy Recovery will post 0.36 EPS for the current year.

Energy Recovery Company Profile

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.