Zacks Investment Research Downgrades CECO Environmental (CECE) to Sell

Zacks Investment Research cut shares of CECO Environmental (NASDAQ:CECE) from a hold rating to a sell rating in a research note published on Thursday.

According to Zacks, “CECO ENVIRONMENTAL CORP. manufactures and sells, primarily in the United States, of fiber bed mist eliminators to the chemical, printing, plating, power generation, food processing, waste incineration and textile industries. “

Other research analysts have also recently issued reports about the stock. Needham & Company LLC cut shares of CECO Environmental from a strong-buy rating to a buy rating in a research note on Thursday, November 9th. TheStreet cut shares of CECO Environmental from a c- rating to a d+ rating in a research note on Monday, November 27th. ValuEngine cut shares of CECO Environmental from a buy rating to a hold rating in a research note on Sunday, December 31st. Finally, Roth Capital reaffirmed a neutral rating on shares of CECO Environmental in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. CECO Environmental has an average rating of Hold and an average price target of $12.00.

Shares of CECO Environmental (NASDAQ CECE) traded up $0.10 during trading hours on Thursday, reaching $4.18. 349,271 shares of the company were exchanged, compared to its average volume of 186,095. The company has a market capitalization of $145.77, a PE ratio of -3.33, a price-to-earnings-growth ratio of 0.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.57 and a quick ratio of 1.38. CECO Environmental has a fifty-two week low of $4.02 and a fifty-two week high of $12.58.

CECO Environmental (NASDAQ:CECE) last announced its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). The firm had revenue of $85.00 million during the quarter, compared to the consensus estimate of $92.66 million. CECO Environmental had a negative net margin of 11.47% and a positive return on equity of 11.91%. The business’s revenue was down 16.3% compared to the same quarter last year. During the same period last year, the business earned $0.24 earnings per share. sell-side analysts predict that CECO Environmental will post 0.39 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Systematic Financial Management LP grew its stake in shares of CECO Environmental by 29.7% during the third quarter. Systematic Financial Management LP now owns 149,750 shares of the industrial products company’s stock worth $1,267,000 after buying an additional 34,320 shares during the last quarter. Heartland Advisors Inc. bought a new stake in shares of CECO Environmental during the third quarter worth $846,000. Goldman Sachs Group Inc. grew its stake in shares of CECO Environmental by 133.4% during the second quarter. Goldman Sachs Group Inc. now owns 167,158 shares of the industrial products company’s stock worth $1,534,000 after buying an additional 95,545 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of CECO Environmental by 14.3% in the third quarter. Wells Fargo & Company MN now owns 336,192 shares of the industrial products company’s stock worth $2,844,000 after purchasing an additional 42,088 shares during the last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of CECO Environmental by 177.1% in the third quarter. GSA Capital Partners LLP now owns 107,806 shares of the industrial products company’s stock worth $912,000 after purchasing an additional 68,900 shares during the last quarter. 65.97% of the stock is currently owned by hedge funds and other institutional investors.

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About CECO Environmental

CECO Environmental Corp. is a provider of engineered technologies to the environmental, energy, and fluid handling and filtration industrial segments. The Company is focused on engineering, designing, building and installing systems that capture, clean and destroy airborne contaminants from industrial facilities, as well as equipment that controls emissions from such facilities, and fluid handling and filtration systems.

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