CECO Environmental Corp. (CECE) Receives Average Recommendation of “Hold” from Brokerages

Shares of CECO Environmental Corp. (NASDAQ:CECE) have earned an average rating of “Hold” from the eight analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $12.33.

CECE has been the subject of a number of recent analyst reports. Needham & Company LLC upgraded CECO Environmental Corp. from a “buy” rating to a “strong-buy” rating and boosted their price objective for the company from $9.51 to $13.00 in a report on Thursday, July 6th. BidaskClub upgraded CECO Environmental Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Zacks Investment Research upgraded CECO Environmental Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. William Blair cut CECO Environmental Corp. from an “outperform” rating to a “market perform” rating in a report on Friday, August 11th. Finally, ValuEngine cut CECO Environmental Corp. from a “buy” rating to a “hold” rating in a report on Friday, September 1st.

In other news, Director Jason Dezwirek bought 25,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was acquired at an average cost of $7.27 per share, with a total value of $181,750.00. Following the transaction, the director now directly owns 1,410,616 shares in the company, valued at approximately $10,255,178.32. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan Pollack bought 6,800 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were purchased at an average cost of $7.31 per share, with a total value of $49,708.00. Following the completion of the transaction, the director now owns 26,146 shares in the company, valued at $191,127.26. The disclosure for this purchase can be found here. Insiders own 14.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. American International Group Inc. raised its position in CECO Environmental Corp. by 7.1% during the 1st quarter. American International Group Inc. now owns 18,019 shares of the industrial products company’s stock valued at $189,000 after purchasing an additional 1,187 shares in the last quarter. Martingale Asset Management L P raised its position in CECO Environmental Corp. by 1.1% during the 2nd quarter. Martingale Asset Management L P now owns 115,459 shares of the industrial products company’s stock valued at $1,060,000 after purchasing an additional 1,200 shares in the last quarter. Rhumbline Advisers raised its position in CECO Environmental Corp. by 3.6% during the 2nd quarter. Rhumbline Advisers now owns 35,403 shares of the industrial products company’s stock valued at $325,000 after purchasing an additional 1,240 shares in the last quarter. Martin & Co. Inc. TN raised its position in CECO Environmental Corp. by 0.9% during the 2nd quarter. Martin & Co. Inc. TN now owns 171,035 shares of the industrial products company’s stock valued at $1,570,000 after purchasing an additional 1,550 shares in the last quarter. Finally, American Century Companies Inc. raised its position in CECO Environmental Corp. by 1.7% during the 2nd quarter. American Century Companies Inc. now owns 116,459 shares of the industrial products company’s stock valued at $1,069,000 after purchasing an additional 1,952 shares in the last quarter. 67.94% of the stock is owned by institutional investors and hedge funds.

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Shares of CECO Environmental Corp. (NASDAQ:CECE) remained flat at $8.80 during trading on Thursday. 33,850 shares of the company traded hands. The company’s market capitalization is $303.49 million. CECO Environmental Corp. has a 12-month low of $6.94 and a 12-month high of $14.88. The company has a 50 day moving average of $8.24 and a 200-day moving average of $9.27.

CECO Environmental Corp. (NASDAQ:CECE) last posted its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.11). CECO Environmental Corp. had a negative net margin of 10.27% and a positive return on equity of 14.60%. The business had revenue of $93.90 million for the quarter, compared to analysts’ expectations of $99.09 million. During the same quarter in the previous year, the firm earned $0.21 EPS. CECO Environmental Corp.’s revenue was down 16.4% compared to the same quarter last year. Equities analysts anticipate that CECO Environmental Corp. will post $0.59 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Thursday, September 14th. CECO Environmental Corp.’s payout ratio is currently -25.86%.

About CECO Environmental Corp.

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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