Shares of Energy Recovery, Inc. (NASDAQ:ERII) have been given a consensus recommendation of “Buy” by the six brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $19.00.

A number of research analysts have recently issued reports on ERII shares. FBR & Co reissued a “buy” rating and issued a $16.00 target price on shares of Energy Recovery in a report on Monday, March 20th. Zacks Investment Research raised Energy Recovery from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Monday, May 1st. Jefferies Group LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Energy Recovery in a report on Saturday, March 11th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Energy Recovery in a report on Wednesday, March 15th.

A number of hedge funds have recently bought and sold shares of the company. Sandia Holdings LLC increased its stake in Energy Recovery by 24.6% in the first quarter. Sandia Holdings LLC now owns 684,557 shares of the industrial products company’s stock worth $5,696,000 after buying an additional 135,317 shares during the last quarter. State Street Corp increased its stake in Energy Recovery by 3.6% in the fourth quarter. State Street Corp now owns 538,206 shares of the industrial products company’s stock worth $5,569,000 after buying an additional 18,626 shares during the last quarter. Renaissance Technologies LLC increased its stake in Energy Recovery by 2,594.5% in the first quarter. Renaissance Technologies LLC now owns 441,900 shares of the industrial products company’s stock worth $3,677,000 after buying an additional 425,500 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Energy Recovery by 1,532.6% in the first quarter. Goldman Sachs Group Inc. now owns 359,914 shares of the industrial products company’s stock worth $2,994,000 after buying an additional 337,869 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Energy Recovery by 4.7% in the first quarter. Geode Capital Management LLC now owns 278,561 shares of the industrial products company’s stock worth $2,317,000 after buying an additional 12,408 shares during the last quarter. Institutional investors own 31.82% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Energy Recovery, Inc. (ERII) Given Consensus Recommendation of “Buy” by Brokerages” was posted by Financial Market News and is the sole property of of Financial Market News. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this piece can be accessed at https://www.financial-market-news.com/2017/06/18/energy-recovery-inc-erii-given-consensus-recommendation-of-buy-by-brokerages.html.

Energy Recovery (NASDAQ:ERII) traded down 2.03% during trading on Tuesday, hitting $7.74. 756,990 shares of the stock traded hands. Energy Recovery has a 12 month low of $7.11 and a 12 month high of $16.67. The company has a market cap of $417.84 million, a P/E ratio of 164.68 and a beta of 5.46. The company’s 50 day moving average price is $7.90 and its 200 day moving average price is $9.08.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by $0.02. The firm had revenue of $12.26 million for the quarter, compared to analyst estimates of $15.15 million. Energy Recovery had a return on equity of 4.10% and a net margin of 4.94%. On average, equities research analysts anticipate that Energy Recovery will post $0.68 EPS for the current fiscal year.

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. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.

Receive News & Ratings for Energy Recovery Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Recovery Inc. and related companies with MarketBeat.com's FREE daily email newsletter.