CECO Environmental (NASDAQ:CECE) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of CECO Environmental (NASDAQ:CECE) from a sell rating to a hold rating in a report released on Saturday, BidAskClub reports.

Several other analysts have also issued reports on the company. HC Wainwright reiterated a buy rating and set a $9.00 target price on shares of CECO Environmental in a report on Thursday. Maxim Group reiterated a buy rating and set a $10.00 target price on shares of CECO Environmental in a report on Thursday. Needham & Company LLC reiterated a buy rating and set a $10.00 target price on shares of CECO Environmental in a report on Wednesday. ValuEngine upgraded CECO Environmental from a hold rating to a buy rating in a report on Wednesday. Finally, B. Riley set a $10.00 target price on CECO Environmental and gave the stock a buy rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $10.00.

Shares of CECO Environmental stock traded up $0.17 during trading on Friday, reaching $7.99. 134,000 shares of the company were exchanged, compared to its average volume of 111,585. CECO Environmental has a twelve month low of $6.44 and a twelve month high of $9.84. The firm has a market capitalization of $251.36 million, a price-to-earnings ratio of 27.55, a P/E/G ratio of 0.98 and a beta of 0.93. The company has a quick ratio of 1.39, a current ratio of 1.61 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $7.00 and a 200-day moving average price of $8.09.

CECO Environmental (NASDAQ:CECE) last released its earnings results on Wednesday, November 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). CECO Environmental had a positive return on equity of 7.57% and a negative net margin of 1.32%. The company had revenue of $85.27 million for the quarter, compared to the consensus estimate of $89.53 million. On average, equities research analysts forecast that CECO Environmental will post 0.48 EPS for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in CECE. Wells Fargo & Company MN raised its stake in CECO Environmental by 66.8% in the second quarter. Wells Fargo & Company MN now owns 627,222 shares of the industrial products company’s stock valued at $6,015,000 after buying an additional 251,116 shares during the period. River & Mercantile Asset Management LLP bought a new stake in CECO Environmental in the second quarter valued at approximately $2,253,000. Cadence Capital Management LLC bought a new stake in CECO Environmental in the third quarter valued at approximately $1,534,000. Acadian Asset Management LLC raised its stake in CECO Environmental by 100.9% in the second quarter. Acadian Asset Management LLC now owns 221,831 shares of the industrial products company’s stock valued at $2,128,000 after buying an additional 111,430 shares during the period. Finally, BlackRock Inc. raised its stake in CECO Environmental by 5.0% in the second quarter. BlackRock Inc. now owns 2,186,490 shares of the industrial products company’s stock valued at $20,969,000 after buying an additional 103,329 shares during the period. Hedge funds and other institutional investors own 69.50% of the company’s stock.

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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Analyst Recommendations for CECO Environmental (NASDAQ:CECE)

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