Energy Recovery, Inc. (NASDAQ:ERII) Receives $20.75 Average PT from Analysts

Energy Recovery, Inc. (NASDAQ:ERII) has earned an average rating of “Buy” from the six brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $20.75.

ERII has been the topic of a number of recent research reports. Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Scotiabank initiated coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, StockNews.com raised Energy Recovery from a “hold” rating to a “buy” rating in a research note on Saturday, March 29th.

Insider Transactions at Energy Recovery

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

Institutional Trading of Energy Recovery

Several hedge funds have recently added to or reduced their stakes in ERII. Ameriprise Financial Inc. increased its stake in shares of Energy Recovery by 24.6% during the 4th quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company’s stock worth $72,823,000 after purchasing an additional 978,490 shares during the last quarter. Vanguard Group Inc. increased its position in Energy Recovery by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,252,378 shares of the industrial products company’s stock worth $47,810,000 after buying an additional 43,290 shares during the last quarter. Geode Capital Management LLC raised its stake 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 buying an additional 56,306 shares during the period. KBC Group NV lifted its position in shares of Energy Recovery by 0.4% during the 4th quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company’s stock valued at $18,270,000 after buying an additional 4,670 shares during the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of Energy Recovery by 27.8% during the 4th quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company’s stock worth $16,462,000 after acquiring an additional 243,653 shares during the period. Institutional investors own 83.58% of the company’s stock.

Energy Recovery Stock Performance

Energy Recovery stock opened at $15.97 on Friday. The stock has a market capitalization of $877.63 million, a price-to-earnings ratio of 46.97 and a beta of 1.05. Energy Recovery has a 52-week low of $12.26 and a 52-week high of $20.27. The stock’s 50 day moving average price is $15.39 and its two-hundred day moving average price is $16.20.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $67.39 million. On average, equities research analysts forecast that Energy Recovery will post 0.36 EPS for the current year.

About Energy Recovery

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.