CECO Environmental Corp. (CECE) Given Average Recommendation of “Buy” by Analysts

Shares of CECO Environmental Corp. (NASDAQ:CECE) have been assigned an average rating of “Buy” from the six brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $8.92.

A number of research firms have recently commented on CECE. Roth Capital set a $8.00 price objective on shares of CECO Environmental and gave the company a “hold” rating in a research note on Thursday, August 9th. BidaskClub upgraded CECO Environmental from a “sell” rating to a “hold” rating in a report on Thursday, November 8th. Zacks Investment Research upgraded CECO Environmental from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a report on Monday, November 12th. ValuEngine upgraded CECO Environmental from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 8th. Finally, Needham & Company LLC boosted their target price on CECO Environmental from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, August 9th.

NASDAQ CECE opened at $8.31 on Friday. CECO Environmental has a 12 month low of $4.00 and a 12 month high of $9.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.33. The stock has a market cap of $281.00 million, a PE ratio of 30.78, a P/E/G ratio of 1.85 and a beta of 0.92.

CECO Environmental (NASDAQ:CECE) last posted its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.02. CECO Environmental had a negative net margin of 6.20% and a positive return on equity of 2.81%. The company had revenue of $88.26 million during the quarter, compared to the consensus estimate of $83.50 million. On average, analysts expect that CECO Environmental will post 0.29 earnings per share for the current fiscal year.

In other news, Director David B. Liner bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 28th. The stock was acquired at an average price of $7.86 per share, for a total transaction of $39,300.00. Following the acquisition, the director now owns 37,860 shares of the company’s stock, valued at $297,579.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 13.44% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CECE. Putnam Investments LLC boosted its holdings in CECO Environmental by 237.2% in the 2nd quarter. Putnam Investments LLC now owns 470,112 shares of the industrial products company’s stock worth $2,886,000 after acquiring an additional 330,700 shares during the period. K2 Principal Fund L.P. boosted its holdings in CECO Environmental by 199.6% in the 2nd quarter. K2 Principal Fund L.P. now owns 358,074 shares of the industrial products company’s stock worth $2,199,000 after acquiring an additional 238,550 shares during the period. Dimensional Fund Advisors LP boosted its holdings in CECO Environmental by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,190,438 shares of the industrial products company’s stock worth $13,449,000 after acquiring an additional 150,978 shares during the period. Trigran Investments Inc. boosted its holdings in CECO Environmental by 1.8% in the 2nd quarter. Trigran Investments Inc. now owns 4,364,505 shares of the industrial products company’s stock worth $26,798,000 after acquiring an additional 76,999 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in CECO Environmental by 124.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 80,756 shares of the industrial products company’s stock worth $496,000 after acquiring an additional 44,700 shares during the period. Hedge funds and other institutional investors own 65.07% of the company’s stock.

About CECO Environmental

CECO Environmental Corp. provides critical solutions to the environmental, energy, and fluid handling and filtration industries worldwide. The company operates through three segments: Energy, Environmental, and Fluid Handling and Filtration. The Energy segment offers gas turbine exhaust systems, dampers and diverters, gas and liquid separation and filtration equipment, selective catalytic reduction and selective non-catalytic reduction systems, acoustical components and silencers, secondary separators, and expansion joints for the power and petrochemical industries.

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