Maxim Group Reaffirms Buy Rating for CECO Environmental (NASDAQ:CECE)

CECO Environmental (NASDAQ:CECE)‘s stock had its “buy” rating reaffirmed by equities researchers at Maxim Group in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. They currently have a $10.00 price objective on the industrial products company’s stock. Maxim Group’s price objective points to a potential upside of 25.16% from the company’s current price.

Other equities analysts have also issued research reports about the stock. HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of CECO Environmental in a research report on Thursday. B. Riley set a $10.00 price objective on shares of CECO Environmental and gave the company a “buy” rating in a research report on Wednesday, August 7th. ValuEngine upgraded shares of CECO Environmental from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research lowered shares of CECO Environmental from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of CECO Environmental in a research report on Wednesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. CECO Environmental currently has an average rating of “Buy” and a consensus price target of $10.00.

CECE stock traded up $0.17 during midday trading on Thursday, reaching $7.99. 134,000 shares of the company’s stock traded hands, compared to its average volume of 111,585. The company has a current ratio of 1.61, a quick ratio of 1.39 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average is $7.00 and its 200 day moving average is $8.09. CECO Environmental has a 52-week low of $6.44 and a 52-week high of $9.84. The stock has a market cap of $251.36 million, a P/E ratio of 27.55, a PEG ratio of 0.98 and a beta of 0.93.

CECO Environmental (NASDAQ:CECE) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.12 earnings per share for the quarter, missing the Zacks’ 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. As a group, research analysts expect that CECO Environmental will post 0.48 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of 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 acquiring an additional 103,329 shares during the period. Wells Fargo & Company MN raised its stake in shares of 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 acquiring an additional 251,116 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in CECO Environmental by 7.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 395,468 shares of the industrial products company’s stock worth $3,793,000 after buying an additional 27,968 shares during the period. Argent Capital Management LLC increased its stake in CECO Environmental by 7.0% in the 2nd quarter. Argent Capital Management LLC now owns 351,919 shares of the industrial products company’s stock worth $3,375,000 after buying an additional 22,925 shares during the period. Finally, Northern Trust Corp increased its stake in CECO Environmental by 1.5% in the 2nd quarter. Northern Trust Corp now owns 351,522 shares of the industrial products company’s stock worth $3,372,000 after buying an additional 5,261 shares during the period. 69.50% of the stock is currently owned by institutional investors and hedge funds.

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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