Profire Energy (PFIE) Rating Lowered to Buy at ValuEngine

Profire Energy (NASDAQ:PFIE) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday, May 29th.

PFIE has been the subject of a number of other reports. Roth Capital set a $5.00 price objective on Profire Energy and gave the stock a “buy” rating in a research report on Sunday, May 20th. Zacks Investment Research raised Profire Energy from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research report on Saturday, May 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $4.75.

Shares of Profire Energy opened at $4.82 on Tuesday, MarketBeat.com reports. The company has a market cap of $231.99 million, a PE ratio of 53.56 and a beta of 1.71. Profire Energy has a 1 year low of $1.19 and a 1 year high of $5.30.



Profire Energy (NASDAQ:PFIE) last announced its quarterly earnings data on Wednesday, May 9th. The oil and gas company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Profire Energy had a return on equity of 13.15% and a net margin of 13.43%. The company had revenue of $12.17 million for the quarter, compared to analyst estimates of $9.23 million. analysts expect that Profire Energy will post 0.2 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bailard Inc. purchased a new stake in Profire Energy during the fourth quarter worth approximately $149,000. Pacific Ridge Capital Partners LLC lifted its stake in Profire Energy by 16.9% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,369,885 shares of the oil and gas company’s stock worth $2,630,000 after purchasing an additional 197,890 shares during the last quarter. Renaissance Technologies LLC increased its position in Profire Energy by 21.0% during the fourth quarter. Renaissance Technologies LLC now owns 681,800 shares of the oil and gas company’s stock worth $1,309,000 after buying an additional 118,465 shares during the period. Private Advisor Group LLC increased its position in Profire Energy by 340.7% during the first quarter. Private Advisor Group LLC now owns 59,500 shares of the oil and gas company’s stock worth $162,000 after buying an additional 46,000 shares during the period. Finally, Connors Investor Services Inc. acquired a new position in Profire Energy during the first quarter worth approximately $158,000. Institutional investors and hedge funds own 23.10% of the company’s stock.

About Profire Energy

Profire Energy, Inc, an oilfield technology company, provides burner- and chemical-management products and services for the oil and gas industry primarily in the United States and Canada. It assists energy production companies in the production and transportation of oil and natural gas. The company offers burner-management systems to ignite, monitor, and manage the burner flames used in oilfield vessels, as well as complementary oilfield products, such as valves and fuel trains, airplates, solar packages, and flare stack igniters and nozzles.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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