CECO Environmental (NASDAQ:CECE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday.
According to Zacks, “CECO ENVIRONMENTAL CORP. manufactures and sells, primarily in the United States, of fiber bed mist eliminators to the chemical, printing, plating, power generation, food processing, waste incineration and textile industries. “
Other equities research analysts have also recently issued reports about the stock. ValuEngine cut shares of CECO Environmental from a “buy” rating to a “hold” rating in a research report on Saturday. TheStreet cut shares of CECO Environmental from a “c-” rating to a “d+” rating in a research report on Monday, November 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price objective on shares of CECO Environmental in a research report on Friday. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $9.00.
CECO Environmental (NASDAQ:CECE) last posted its quarterly earnings data on Thursday, March 8th. The industrial products company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.10). The company had revenue of $73.54 million during the quarter, compared to the consensus estimate of $80.00 million. CECO Environmental had a negative net margin of 0.88% and a positive return on equity of 4.77%. equities research analysts predict that CECO Environmental will post 0.39 EPS for the current fiscal year.
Large investors have recently modified their holdings of the business. Voya Investment Management LLC lifted its position in CECO Environmental by 23.2% during the 2nd quarter. Voya Investment Management LLC now owns 15,660 shares of the industrial products company’s stock worth $144,000 after buying an additional 2,947 shares in the last quarter. Macquarie Group Ltd. bought a new stake in CECO Environmental during the 3rd quarter worth about $205,000. Sei Investments Co. bought a new stake in CECO Environmental during the 3rd quarter worth about $210,000. The Manufacturers Life Insurance Company lifted its position in CECO Environmental by 10.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,404 shares of the industrial products company’s stock worth $242,000 after buying an additional 2,471 shares in the last quarter. Finally, Citadel Advisors LLC lifted its position in CECO Environmental by 67.9% during the 3rd quarter. Citadel Advisors LLC now owns 28,768 shares of the industrial products company’s stock worth $243,000 after buying an additional 11,633 shares in the last quarter. 66.38% of the stock is currently owned by hedge funds and other institutional investors.
CECO Environmental Company Profile
CECO Environmental Corp. is a provider of engineered technologies to the environmental, energy, and fluid handling and filtration industrial segments. The Company is focused on engineering, designing, building and installing systems that capture, clean and destroy airborne contaminants from industrial facilities, as well as equipment that controls emissions from such facilities, and fluid handling and filtration systems.
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