Shares of CECO Environmental Corp. (NASDAQ:CECE) have received an average recommendation of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $9.80.
A number of research analysts have recently commented on CECE shares. BidaskClub upgraded CECO Environmental from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. ValuEngine raised CECO Environmental from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. B. Riley set a $10.00 target price on CECO Environmental and gave the company a “buy” rating in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of CECO Environmental in a research report on Wednesday, November 6th. Finally, HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of CECO Environmental in a research note on Thursday, November 7th.
Hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley grew its stake in shares of CECO Environmental by 2.2% in the second quarter. Morgan Stanley now owns 83,620 shares of the industrial products company’s stock worth $802,000 after purchasing an additional 1,826 shares during the last quarter. Bank of Montreal Can lifted its holdings in CECO Environmental by 102.9% during the 2nd quarter. Bank of Montreal Can now owns 5,153 shares of the industrial products company’s stock worth $49,000 after buying an additional 2,613 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of CECO Environmental by 3.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 73,457 shares of the industrial products company’s stock valued at $705,000 after buying an additional 2,644 shares during the last quarter. Rhumbline Advisers grew its position in shares of CECO Environmental by 8.9% in the 3rd quarter. Rhumbline Advisers now owns 47,012 shares of the industrial products company’s stock valued at $328,000 after buying an additional 3,861 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of CECO Environmental by 1.5% in the second quarter. Northern Trust Corp now owns 351,522 shares of the industrial products company’s stock valued at $3,372,000 after buying an additional 5,261 shares during the period. 69.16% of the stock is owned by hedge funds and other institutional investors.
CECE stock traded down $0.07 during trading on Friday, reaching $7.89. 68,163 shares of the company were exchanged, compared to its average volume of 109,313. The company has a market capitalization of $286.53 million, a price-to-earnings ratio of 27.21, a P/E/G ratio of 1.17 and a beta of 0.93. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.53 and a quick ratio of 1.34. The company has a 50-day moving average of $7.13 and a two-hundred day moving average of $8.10. CECO Environmental has a twelve month low of $6.44 and a twelve month high of $9.84.
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 analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $85.27 million during the quarter, compared to analyst estimates of $89.53 million. CECO Environmental had a net margin of 2.96% and a return on equity of 7.91%. On average, analysts forecast that CECO Environmental will post 0.46 EPS for the current year.
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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