CECO Environmental (NASDAQ:CECE) was upgraded by equities researchers at Roth Capital from a “neutral” rating to a “buy” rating in a report released on Tuesday, BenzingaRatingsTable reports. The brokerage presently has a $10.00 price objective on the industrial products company’s stock, up from their previous price objective of $8.00. Roth Capital’s price target points to a potential upside of 14.42% from the stock’s previous close.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research raised CECO Environmental from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Tuesday, May 14th. BidaskClub raised CECO Environmental from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Maxim Group set a $10.00 target price on CECO Environmental and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, B. Riley assumed coverage on CECO Environmental in a research report on Thursday, March 14th. They issued a “buy” rating and a $9.50 target price for the company. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $9.92.
Shares of NASDAQ CECE opened at $8.74 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 1.40 and a debt-to-equity ratio of 0.48. CECO Environmental has a 1-year low of $5.83 and a 1-year high of $9.80. The stock has a market cap of $313.36 million, a price-to-earnings ratio of 30.14, a P/E/G ratio of 1.19 and a beta of 0.90.
CECO Environmental (NASDAQ:CECE) last released its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The business had revenue of $86.01 million during the quarter, compared to analysts’ expectations of $86.42 million. CECO Environmental had a positive return on equity of 6.82% and a negative net margin of 3.16%. On average, research analysts expect that CECO Environmental will post 0.5 earnings per share for the current fiscal year.
In other CECO Environmental news, CEO Dennis Sadlowski bought 4,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was acquired at an average cost of $7.23 per share, with a total value of $28,920.00. Following the purchase, the chief executive officer now owns 110,700 shares in the company, valued at approximately $800,361. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 13.44% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its stake in shares of CECO Environmental by 508.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,337 shares of the industrial products company’s stock worth $46,000 after buying an additional 5,295 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of CECO Environmental by 117.6% during the 4th quarter. Macquarie Group Ltd. now owns 7,304 shares of the industrial products company’s stock worth $49,000 after buying an additional 3,948 shares in the last quarter. Strs Ohio purchased a new position in shares of CECO Environmental during the 4th quarter worth approximately $56,000. Citigroup Inc. raised its stake in shares of CECO Environmental by 19.6% during the 1st quarter. Citigroup Inc. now owns 8,714 shares of the industrial products company’s stock worth $63,000 after buying an additional 1,429 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY purchased a new position in shares of CECO Environmental during the 4th quarter worth approximately $73,000. 67.84% of the stock is owned by institutional investors and hedge funds.
About CECO Environmental
CECO Environmental Corp. provides industrial air quality and fluid handling systems for the energy, industrial, and other markets worldwide. The company operates through three segments: Energy Solutions, Environmental Solutions, and Fluid Handling and Filtration Solutions. The company engineers, designs, builds, and installs systems that capture, clean, and destroy airborne contaminants from industrial facilities, as well as equipment that control emissions from such facilities; and fluid handling and filtration systems.
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