CECO Environmental (NASDAQ:CECE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
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. “
A number of other brokerages have also commented on CECE. Maxim Group reissued a “buy” rating and set a $10.00 price objective on shares of CECO Environmental in a report on Tuesday, January 15th. ValuEngine raised shares of CECO Environmental from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 8th. HC Wainwright initiated coverage on shares of CECO Environmental in a report on Tuesday, December 18th. They set a “buy” rating and a $9.00 price objective on the stock. Finally, BidaskClub raised shares of CECO Environmental from a “sell” rating to a “hold” rating in a report on Thursday, November 8th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $8.95.
Shares of NASDAQ:CECE opened at $7.14 on Monday. 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 quick ratio of 1.33 and a current ratio of 1.53. The stock has a market cap of $244.30 million, a price-to-earnings ratio of 26.44, a P/E/G ratio of 1.06 and a beta of 1.08.
CECO Environmental (NASDAQ:CECE) last issued its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $88.26 million for the quarter, compared to analyst estimates of $83.50 million. Analysts expect that CECO Environmental will post 0.29 earnings per share for the current fiscal year.
In other CECO Environmental news, Director David B. Liner bought 5,000 shares of CECO Environmental stock in a transaction dated Wednesday, November 28th. The shares were bought at an average price of $7.86 per share, with a total value of $39,300.00. Following the purchase, 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 available at this link. Insiders bought a total of 8,500 shares of company stock worth $63,775 in the last ninety days. Insiders own 13.44% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CECE. Dimensional Fund Advisors LP boosted its stake in shares of 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 valued at $13,449,000 after purchasing an additional 150,978 shares during the last quarter. Northern Trust Corp boosted its stake in shares of CECO Environmental by 8.6% in the 2nd quarter. Northern Trust Corp now owns 332,100 shares of the industrial products company’s stock valued at $2,039,000 after purchasing an additional 26,434 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of CECO Environmental by 315.3% in the 3rd quarter. Acadian Asset Management LLC now owns 27,068 shares of the industrial products company’s stock valued at $212,000 after purchasing an additional 20,550 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of CECO Environmental by 38.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 111,656 shares of the industrial products company’s stock valued at $880,000 after purchasing an additional 30,900 shares during the last quarter. Finally, Trigran Investments Inc. boosted its stake in shares of CECO Environmental by 1.3% in the 3rd quarter. Trigran Investments Inc. now owns 4,420,727 shares of the industrial products company’s stock valued at $34,835,000 after purchasing an additional 56,222 shares during the last quarter. 65.98% of the stock is currently owned by institutional investors.
CECO Environmental Company Profile
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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