Piper Jaffray analyst John Watson reiterated a Hold rating on Emerge Energy (NYSE: EMES) today and set a price target of $7. The company’s shares opened today at $6.18, close to its 52-week low of $5.65.
According to TipRanks.com, Watson is a 4-star analyst with an average return of 14.7% and a 53.8% success rate. Watson covers the Basic Materials sector, focusing on stocks such as Solaris Oilfield Infrastructure Inc, Tetra Technologies, and US Silica Holdings.
The word on The Street in general, suggests a Hold analyst consensus rating for Emerge Energy with a $8.54 average price target, a 38.2% upside from current levels. In a report issued on August 2, B.Riley FBR also maintained a Hold rating on the stock with a $9 price target.
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Based on Emerge Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $9.43 million. In comparison, last year the company had a GAAP net loss of $6.08 million.
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Emerge Energy Services LP engages in the ownership, operation, acquisition and development of a diversified portfolio of energy service assets. It also engages in the businesses of mining, processing, and distributing silica sand, a key input for the hydraulic fracturing of oil and natural gas wells.
