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Maxim Group Remains a Buy on Profire Energy (PFIE)


In a report released today, James Jang from Maxim Group reiterated a Buy rating on Profire Energy (PFIE), with a price target of $5. The company’s shares closed yesterday at $2.56.

Jang noted:

“Wednesday, after Market close, PFIE announced 3Q18 results with revenue of $11.5M, above our estimate of $10.7M, and EPS of $0.03, a penny above our estimate of $0.02.”

According to TipRanks.com, Jang is a 4-star analyst with an average return of 14.8% and a 46.5% success rate. Jang covers the Services sector, focusing on stocks such as Sino-Global Shipping America, Nordic American Tanker, and Eagle Bulk Shipping.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Profire Energy with a $5 average price target.

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Based on Profire Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $1.66 million. In comparison, last year the company had a net profit of $1.22 million.

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Profire Energy, Inc. engages in the development of burner-management technologies used on a oilfield natural-draft fire tube vessels in oil and gas industry. It offers line-heaters, dehydrators, separators, treaters, amine reboilers, and free-water knockout systems which facilitate the proper function of the vessel.