CECO Environmental (NASDAQ:CECE) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of CECO Environmental (NASDAQ:CECE) in a report published on Wednesday, AnalystRatings.com reports. The firm currently has a $10.00 price target on the industrial products company’s stock.

Several other research firms also recently issued reports on CECE. ValuEngine downgraded CECO Environmental from a buy rating to a hold rating in a research note on Tuesday, August 6th. B. Riley set a $10.00 price target on CECO Environmental and gave the stock a buy rating in a research note on Wednesday, August 7th. Maxim Group set a $10.00 price target on CECO Environmental and gave the stock a buy rating in a research note on Wednesday, August 7th. BidaskClub downgraded CECO Environmental from a sell rating to a strong sell rating in a research note on Friday, August 9th. Finally, Zacks Investment Research downgraded CECO Environmental from a hold rating to a sell rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $10.00.

CECE opened at $7.99 on Wednesday. The company has a market cap of $251.36 million, a PE ratio of 27.55, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93. The stock has a 50-day moving average of $7.00 and a 200-day moving average of $8.09. CECO Environmental has a 52-week low of $6.44 and a 52-week high of $9.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.39 and a current ratio of 1.61.

CECO Environmental (NASDAQ:CECE) last released its quarterly 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). The company had revenue of $85.27 million for the quarter, compared to the consensus estimate 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, research analysts predict that CECO Environmental will post 0.48 earnings per share for the current year.

A number of large investors have recently made changes to their positions in CECE. Wells Fargo & Company MN boosted its stake in 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 purchasing an additional 251,116 shares during the period. River & Mercantile Asset Management LLP bought a new stake in CECO Environmental during the 2nd quarter valued at approximately $2,253,000. Cadence Capital Management LLC bought a new stake in CECO Environmental during the 3rd quarter valued at approximately $1,534,000. Acadian Asset Management LLC boosted its stake in CECO Environmental by 100.9% during the 2nd quarter. Acadian Asset Management LLC now owns 221,831 shares of the industrial products company’s stock valued at $2,128,000 after purchasing an additional 111,430 shares during the period. Finally, BlackRock Inc. boosted its stake in 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 purchasing 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.

Recommended Story: What is an Initial Public Offering (IPO)?

Analyst Recommendations for CECO Environmental (NASDAQ:CECE)

Receive News & Ratings for CECO Environmental Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CECO Environmental and related companies with MarketBeat.com's FREE daily email newsletter.