Advanced Emissions Solutions (ADES) Downgraded to Sell at Zacks Investment Research
Zacks Investment Research lowered shares of Advanced Emissions Solutions (NASDAQ:ADES) from a hold rating to a sell rating in a research note published on Tuesday morning.
According to Zacks, “Advanced Emissions Solutions, Inc. develops, offers and implements environmental technologies, equipment and specialty chemicals that enable coal-fueled power plants to meet emissions regulations. It operates in three principal business segments: Refined Coal, Emissions Control and CO2 capture. The company also offers dry sorbent injection systems to control SO2 and acid gases. It operates primarily in the United States along with its subsidiaries. Advanced Emissions Solutions, Inc. formerly known as ADA-ES, Inc., is based in Highlands Ranch, Colorado. “
Several other brokerages have also recently commented on ADES. ValuEngine upgraded shares of Advanced Emissions Solutions from a buy rating to a strong-buy rating in a research report on Monday, October 2nd. HC Wainwright restated a buy rating and issued a $18.00 target price on shares of Advanced Emissions Solutions in a research report on Wednesday, November 8th. Finally, Canaccord Genuity restated a buy rating and issued a $20.00 target price on shares of Advanced Emissions Solutions in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Advanced Emissions Solutions currently has an average rating of Buy and a consensus target price of $17.00.
Advanced Emissions Solutions (NASDAQ:ADES) last issued its earnings results on Monday, November 6th. The industrial products company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.43). The firm had revenue of $2.29 million during the quarter, compared to analyst estimates of $8.30 million. Advanced Emissions Solutions had a net margin of 249.58% and a return on equity of 45.61%. equities analysts anticipate that Advanced Emissions Solutions will post 1.29 earnings per share for the current year.
Advanced Emissions Solutions declared that its Board of Directors has approved a stock repurchase plan on Monday, December 4th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, Director Alan Bradley Gabbard sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $8.17, for a total value of $81,700.00. Following the completion of the transaction, the director now directly owns 34,480 shares in the company, valued at approximately $281,701.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Fundamental Advisers Sp L. Alta bought 262,266 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was purchased at an average price of $9.89 per share, with a total value of $2,593,810.74. The disclosure for this purchase can be found here. 8.49% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Kestrel Investment Management Corp acquired a new position in Advanced Emissions Solutions during the 3rd quarter worth approximately $3,123,000. Dimensional Fund Advisors LP acquired a new position in Advanced Emissions Solutions during the 3rd quarter worth approximately $206,000. Wells Fargo & Company MN acquired a new position in Advanced Emissions Solutions during the 3rd quarter worth approximately $269,000. Dynamic Technology Lab Private Ltd acquired a new position in Advanced Emissions Solutions during the 3rd quarter worth approximately $244,000. Finally, Chicago Equity Partners LLC acquired a new position in Advanced Emissions Solutions during the 3rd quarter worth approximately $332,000. Institutional investors and hedge funds own 71.29% of the company’s stock.
About Advanced Emissions Solutions
ADA-ES, Inc (ADA) develops, offers, and implements environmental technologies and provides equipment and specialty chemicals that enable coal-fueled power plants to meet emissions regulations by enhancing existing air pollution control equipment. ADA’s wholly owned subsidiaries include Advanced Emissions Solutions, Inc, ADA Intellectual Property, LLC and ADA Environmental Solutions, LLC.
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