In a report released today, James Jang from Maxim Group reiterated a Buy rating on Profire Energy (NASDAQ: PFIE), with a price target of $7. The company’s shares closed yesterday at $3.27.
Jang observed:
“Wednesday, after market close, PFIE announced 2Q18 results with revenue of $11.3 million, slightly above our estimate of $11.2 million, and EPS of $0.03, inline with our estimate of $0.03. We expect further penetration of PF3100 BMS systems in 2019 as the company recently received its Safety Integrity Level (SIL) certification and plans to expand its PF3100 sales force. We recognize additional opportunities for continued success internationally (MENA) and potential M&A activities in North America. We reiterate our Buy rating and $7 Price Target, which is based on a 10-year DCF and supported by a comparable company analysis.”
According to TipRanks.com, Jang is a 4-star analyst with an average return of 18.9% and a 48.9% success rate. Jang covers the Services sector, focusing on stocks such as Dynagas LNG Partners LP, Nordic American Tanker, and Eagle Bulk Shipping.
Profire Energy has an analyst consensus of Moderate Buy, with a price target consensus of $5.88, a 79.8% upside from current levels. In a report issued on August 6, Roth Capital also reiterated a Buy rating on the stock with a $4.75 price target.
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Profire Energy’s market cap is currently $159.6M and has a P/E ratio of 27.25. The company has a Price to Book ratio of 3.45.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is negative on the stock.
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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.
