CES Energy Solutions (TSE:CEU) Sets New 12-Month High – What’s Next?

CES Energy Solutions Corp. (TSE:CEU)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$20.38 and last traded at C$19.07, with a volume of 1215256 shares trading hands. The stock had previously closed at C$20.09.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Raymond James Financial increased their target price on CES Energy Solutions from C$23.00 to C$25.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. BMO Capital Markets raised CES Energy Solutions from a “market perform” rating to an “outperform” rating and upped their price objective for the company from C$21.00 to C$22.00 in a report on Wednesday, June 24th. Scotia upped their price objective on CES Energy Solutions from C$21.00 to C$22.00 and gave the company a “sector outperform” rating in a report on Monday, August 10th. National Bank Financial upgraded CES Energy Solutions from a “hold” rating to an “outperform” rating and set a C$20.00 price objective on the stock in a research report on Friday, August 7th. Finally, TD dropped their target price on CES Energy Solutions from C$19.00 to C$18.00 and set a “hold” rating for the company in a report on Monday, July 13th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, CES Energy Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of C$19.72.

CES Energy Solutions Price Performance

The company’s fifty day moving average price is C$17.97 and its 200 day moving average price is C$17.74. The company has a market capitalization of C$4.04 billion, a P/E ratio of 20.96, a PEG ratio of 0.61 and a beta of 0.81. The company has a quick ratio of 1.78, a current ratio of 2.70 and a debt-to-equity ratio of 55.36.

Insider Activity

In other news, insider Matthew Stephen Bell sold 26,840 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of C$16.04, for a total transaction of C$430,513.60. Following the sale, the insider directly owned 17,000 shares of the company’s stock, valued at approximately C$272,680. This represents a 61.22% decrease in their position. Also, insider Mihir Patel sold 12,184 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of C$16.04, for a total value of C$195,431.36. Following the sale, the insider directly owned 16,571 shares in the company, valued at approximately C$265,798.84. This trade represents a 42.37% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 238,223 shares of company stock worth $4,319,581. 3.03% of the stock is currently owned by insiders.

CES Energy Solutions Company Profile

CES is a leading provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and finally through to the pipeline and midstream market. CES’ business model is relatively asset light and requires limited re-investment capital to grow. As a result, CES has been able to capitalize on the growing market demand for drilling fluids and production and specialty chemicals in North America while generating free cash flow.