FBR & Co Reaffirms “Buy” Rating for Energy Recovery, Inc. (ERII)

Energy Recovery, Inc. (NASDAQ:ERII)‘s stock had its “buy” rating reaffirmed by stock analysts at FBR & Co in a note issued to investors on Monday. They currently have a $16.00 price target on the stock. FBR & Co’s price target indicates a potential upside of 91.85% from the company’s current price.

The analysts wrote, “Heading into the NDR that FBR will host this week with President and CEO Joel Gay, CFO Chris Gannon, and Managing Director, IR and Corporate Development Brian Uhlmer, we are updating our model for 4Q16 results (our annual EPS/EBITDA are unchanged) and highlighting several topics for ERII’s oil & gas division that our meetings should delve into and further explicate. We believe 2017 will reaffirm ERII’s extraordinary oil & gas growth potential and that the stock is offering compelling risk/reward at its current level.””

ERII has been the subject of several other research reports. Zacks Investment Research lowered Energy Recovery from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 4th. Stephens initiated coverage on Energy Recovery in a report on Wednesday, January 11th. They set a “buy” rating and a $18.00 price objective for the company. Evercore ISI reiterated an “outperform” rating and set a $20.00 price objective on shares of Energy Recovery in a report on Wednesday, March 15th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Energy Recovery in a report on Saturday, March 11th. Six equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of $17.29.

Analyst Recommendations for Energy Recovery (NASDAQ:ERII)

Energy Recovery (NASDAQ:ERII) traded up 1.44% during mid-day trading on Monday, reaching $8.46. The company’s stock had a trading volume of 436,832 shares. The stock has a 50-day moving average price of $9.14 and a 200-day moving average price of $11.45. Energy Recovery has a one year low of $7.22 and a one year high of $16.67. The company has a market capitalization of $455.82 million, a price-to-earnings ratio of 423.00 and a beta of 4.86.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, March 8th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. Energy Recovery had a positive return on equity of 3.64% and a negative net margin of 3.60%. The firm earned $17.90 million during the quarter, compared to analyst estimates of $13.15 million. During the same quarter in the prior year, the business posted ($0.11) EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts forecast that Energy Recovery will post $0.75 EPS for the current year.

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In other news, Director Robert Yu Lang Mao bought 20,000 shares of Energy Recovery stock in a transaction that occurred on Tuesday, March 14th. The stock was bought at an average price of $7.53 per share, for a total transaction of $150,600.00. Following the purchase, the director now directly owns 142,361 shares of the company’s stock, valued at approximately $1,071,978.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 26.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of ERII. Essex Investment Management Co. LLC purchased a new position in shares of Energy Recovery during the third quarter worth about $5,596,000. Bank of New York Mellon Corp raised its position in shares of Energy Recovery by 112.7% in the third quarter. Bank of New York Mellon Corp now owns 235,755 shares of the company’s stock worth $3,767,000 after buying an additional 124,919 shares during the period. First Trust Advisors LP raised its position in shares of Energy Recovery by 12.5% in the third quarter. First Trust Advisors LP now owns 267,307 shares of the company’s stock worth $4,272,000 after buying an additional 29,802 shares during the period. Chicago Equity Partners LLC purchased a new position in shares of Energy Recovery during the third quarter worth about $715,000. Finally, Ameriprise Financial Inc. raised its position in shares of Energy Recovery by 203.8% in the third quarter. Ameriprise Financial Inc. now owns 531,383 shares of the company’s stock worth $8,493,000 after buying an additional 356,458 shares during the period. Institutional investors own 31.88% of the company’s stock.

About Energy Recovery

Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. It operates through two segments: Water, and Oil & Gas. Its Water Segment focuses on products sold for use in reverse osmosis water desalination.

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