Raymond James Downgrades CES Energy Solutions (CEU) to Outperform

CES Energy Solutions (TSE:CEU) was downgraded by stock analysts at Raymond James from a “strong-buy” rating to an “outperform” rating in a report released on Monday, February 4th. They currently have a C$5.00 price objective on the stock, down from their prior price objective of C$7.00. Raymond James’ price target would suggest a potential upside of 58.23% from the stock’s current price.

A number of other equities research analysts have also issued reports on CEU. Canaccord Genuity cut their target price on CES Energy Solutions from C$7.00 to C$5.50 in a research report on Tuesday, October 16th. TD Securities upgraded CES Energy Solutions from a “buy” rating to an “action list buy” rating and set a C$7.00 price target for the company in a research note on Wednesday, November 14th. Finally, National Bank Financial upgraded CES Energy Solutions from a “sector perform” rating to an “outperform” rating and set a C$6.50 price target for the company in a research note on Tuesday, November 27th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of C$7.28.

CEU stock remained flat at $C$3.16 during trading on Monday. The company’s stock had a trading volume of 234,700 shares, compared to its average volume of 445,729. CES Energy Solutions has a one year low of C$2.89 and a one year high of C$6.73. The company has a quick ratio of 1.91, a current ratio of 3.43 and a debt-to-equity ratio of 72.49. The firm has a market cap of $846.22 million and a price-to-earnings ratio of 24.31.

In other news, insider John Michael Hooks sold 20,000 shares of the stock in a transaction that occurred on Wednesday, December 19th. The stock was sold at an average price of C$3.26, for a total value of C$65,214.00. Following the completion of the transaction, the insider now directly owns 1,512,171 shares of the company’s stock, valued at approximately C$4,930,735.98.

About CES Energy Solutions

CES Energy Solutions Corp., together with its subsidiaries, provides consumable chemical solutions throughout the life-cycle of the oilfield. The company provides solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and through to the pipeline and midstream market.

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Analyst Recommendations for CES Energy Solutions (TSE:CEU)

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