CECO Environmental’s (CECE) Buy Rating Reaffirmed at Maxim Group

Maxim Group reiterated their buy rating on shares of CECO Environmental (NASDAQ:CECE) in a report released on Thursday, AnalystRatings.com reports. They currently have a $10.00 target price on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC restated a buy rating and issued a $10.00 target price on shares of CECO Environmental in a research report on Wednesday. Zacks Investment Research downgraded CECO Environmental from a hold rating to a sell rating in a research report on Thursday, October 17th. ValuEngine upgraded CECO Environmental from a hold rating to a buy rating in a research report on Wednesday. B. Riley set a $10.00 target price on CECO Environmental and gave the stock a buy rating in a research report on Wednesday, August 7th. Finally, BidaskClub downgraded CECO Environmental from a sell rating to a strong sell rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. CECO Environmental presently has a consensus rating of Buy and an average target price of $10.00.

CECO Environmental stock traded up $0.17 during midday trading on Thursday, hitting $7.99. The stock had a trading volume of 134,000 shares, compared to its average volume of 111,585. The stock has a market cap of $251.36 million, a P/E ratio of 27.55, a P/E/G ratio of 0.98 and a beta of 0.93. The company has a current ratio of 1.61, a quick ratio of 1.39 and a debt-to-equity ratio of 0.46. CECO Environmental has a 12 month low of $6.44 and a 12 month high of $9.84. The business has a fifty 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 for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $85.27 million during the quarter, compared to analyst estimates of $89.53 million. CECO Environmental had a positive return on equity of 7.57% and a negative net margin of 1.32%. On average, equities analysts anticipate that CECO Environmental will post 0.48 EPS for the current fiscal year.

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Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of CECO Environmental by 5.0% during the 2nd quarter. BlackRock Inc. now owns 2,186,490 shares of the industrial products company’s stock valued at $20,969,000 after acquiring an additional 103,329 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of CECO Environmental by 66.8% during the 2nd quarter. Wells Fargo & Company MN now owns 627,222 shares of the industrial products company’s stock valued at $6,015,000 after acquiring an additional 251,116 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of CECO Environmental by 7.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 395,468 shares of the industrial products company’s stock valued at $3,793,000 after acquiring an additional 27,968 shares during the last quarter. Argent Capital Management LLC lifted its position in shares of CECO Environmental by 7.0% during the 2nd quarter. Argent Capital Management LLC now owns 351,919 shares of the industrial products company’s stock valued at $3,375,000 after acquiring an additional 22,925 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of CECO Environmental by 1.5% during the 2nd quarter. Northern Trust Corp now owns 351,522 shares of the industrial products company’s stock valued at $3,372,000 after acquiring an additional 5,261 shares during the last quarter. Institutional investors own 69.50% of the company’s stock.

CECO Environmental Company Profile

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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