Shares of CECO Environmental Corp. (NASDAQ:CECE) have earned an average recommendation of “Hold” from the six analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $9.00.
A number of research firms recently commented on CECE. Needham & Company LLC lifted their price target on shares of CECO Environmental from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. ValuEngine raised shares of CECO Environmental from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Roth Capital set a $8.00 price objective on shares of CECO Environmental and gave the company a “hold” rating in a report on Thursday, August 9th. Zacks Investment Research upgraded shares of CECO Environmental from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Finally, BidaskClub lowered shares of CECO Environmental from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th.
In related news, Director Jonathan Pollack acquired 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The stock was bought at an average price of $8.61 per share, for a total transaction of $129,150.00. Following the acquisition, the director now directly owns 37,364 shares of the company’s stock, valued at approximately $321,704.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.44% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Trigran Investments Inc. lifted its holdings in CECO Environmental by 1.8% during the 2nd quarter. Trigran Investments Inc. now owns 4,364,505 shares of the industrial products company’s stock valued at $26,798,000 after buying an additional 76,999 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in CECO Environmental by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,190,438 shares of the industrial products company’s stock valued at $13,449,000 after buying an additional 150,978 shares in the last quarter. Foundry Partners LLC lifted its holdings in CECO Environmental by 25.0% during the 1st quarter. Foundry Partners LLC now owns 925,773 shares of the industrial products company’s stock valued at $4,120,000 after buying an additional 185,120 shares in the last quarter. Putnam Investments LLC lifted its holdings in CECO Environmental by 237.2% during the 2nd quarter. Putnam Investments LLC now owns 470,112 shares of the industrial products company’s stock valued at $2,886,000 after buying an additional 330,700 shares in the last quarter. Finally, K2 Principal Fund L.P. raised its holdings in shares of CECO Environmental by 199.6% in the 2nd quarter. K2 Principal Fund L.P. now owns 358,074 shares of the industrial products company’s stock valued at $2,199,000 after purchasing an additional 238,550 shares in the last quarter. Institutional investors own 65.56% of the company’s stock.
CECE stock opened at $7.37 on Friday. CECO Environmental has a 12 month low of $4.00 and a 12 month high of $9.41. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.45. The stock has a market cap of $275.10 million, a P/E ratio of 27.30, a PEG ratio of 1.95 and a beta of 1.13.
CECO Environmental (NASDAQ:CECE) last released its quarterly earnings results on Wednesday, August 8th. The industrial products company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. CECO Environmental had a negative net margin of 1.18% and a positive return on equity of 1.55%. The firm had revenue of $81.09 million during the quarter, compared to analysts’ expectations of $73.00 million. As a group, research analysts expect that CECO Environmental will post 0.27 earnings per share for the current year.
About CECO Environmental
CECO Environmental Corp. provides critical solutions to the environmental, energy, and fluid handling and filtration industries worldwide. The company operates through three segments: Energy, Environmental, and Fluid Handling and Filtration. The Energy segment offers gas turbine exhaust systems, dampers and diverters, gas and liquid separation and filtration equipment, selective catalytic reduction and selective non-catalytic reduction systems, acoustical components and silencers, secondary separators, and expansion joints for the power and petrochemical industries.
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