Emerge Energy Services LP (NYSE:EMES) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage presently has a $9.75 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 10.67% from the stock’s current price.
According to Zacks, “Emerge Energy Services LP is engaged in owning, operation, acquisition and development of energy service assets primarily in the United States. It operates in two business segments: sand and fuel processing and distribution. Emerge Energy Services LP is based in Southlake, Texas. “
Several other equities analysts have also weighed in on EMES. Wunderlich reduced their price target on shares of Emerge Energy Services from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, May 16th. Seaport Global Securities upgraded shares of Emerge Energy Services from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Friday, June 24th. Stifel Nicolaus restated a “hold” rating on shares of Emerge Energy Services in a research report on Friday, June 10th. Finally, DA Davidson reiterated a “sell” rating on shares of Emerge Energy Services in a research report on Saturday, June 25th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $9.47.
Emerge Energy Services (NYSE:EMES) last posted its quarterly earnings results on Tuesday, May 10th. The company reported ($1.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by $0.87. The company had revenue of $29.67 million for the quarter, compared to the consensus estimate of $121.76 million. During the same period in the prior year, the firm posted $0.39 EPS. The business’s revenue for the quarter was down 69.1% compared to the same quarter last year. Analysts forecast that Emerge Energy Services will post ($3.90) earnings per share for the current year.
Several hedge funds and institutional investors have recently made changes to their positions in the company. ING Groep NV boosted its position in shares of Emerge Energy Services by 307.7% in the first quarter. ING Groep NV now owns 265,000 shares of the company’s stock valued at $1,325,000 after buying an additional 200,000 shares during the last quarter. BNP Paribas Arbitrage SA purchased a new position in shares of Emerge Energy Services during the second quarter valued at about $3,299,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Emerge Energy Services during the first quarter valued at about $1,491,000.
Emerge Energy Services LP owns, operates, acquires and develops a portfolio of energy service assets. The Company’s segments include Sand segment, Fuel segment and Corporate. The Company’s Sand segment consists of the production and sale of various grades of industrial sand primarily used in the extraction of oil and natural gas, as well as the production of building products and foundry materials.
