CECO Environmental (CECE) Upgraded to “Buy” at ValuEngine

ValuEngine upgraded shares of CECO Environmental (NASDAQ:CECE) from a hold rating to a buy rating in a report released on Thursday morning.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC raised their target price on shares of CECO Environmental from $7.00 to $10.00 and gave the stock a buy rating in a report on Thursday, August 9th. Zacks Investment Research upgraded shares of CECO Environmental from a sell rating to a hold rating in a report on Wednesday, July 18th. Roth Capital set a $8.00 target price on shares of CECO Environmental and gave the stock a hold rating in a report on Thursday, August 9th. Finally, BidaskClub cut shares of CECO Environmental from a hold rating to a sell rating in a report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. CECO Environmental has an average rating of Hold and a consensus price target of $9.00.

Shares of CECE traded up $0.10 during midday trading on Thursday, hitting $7.61. The stock had a trading volume of 35,298 shares, compared to its average volume of 57,995. CECO Environmental has a fifty-two week low of $4.00 and a fifty-two week high of $9.18. The stock has a market cap of $265.67 million, a price-to-earnings ratio of 95.13, a PEG ratio of 1.88 and a beta of 0.92. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.45.

CECO Environmental (NASDAQ:CECE) last announced its earnings results on Wednesday, August 8th. The industrial products company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. CECO Environmental had a negative net margin of 1.18% and a positive return on equity of 1.55%. The company had revenue of $81.09 million during the quarter, compared to analysts’ expectations of $73.00 million. Analysts anticipate that CECO Environmental will post 0.27 earnings per share for the current year.

In other news, Director Jonathan Pollack bought 15,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was bought at an average cost of $8.61 per share, for a total transaction of $129,150.00. Following the completion of the acquisition, the director now directly owns 37,364 shares in the company, valued at approximately $321,704.04. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 13.44% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Trigran Investments Inc. boosted its holdings in shares of CECO Environmental by 1.8% during the second quarter. Trigran Investments Inc. now owns 4,364,505 shares of the industrial products company’s stock worth $26,798,000 after purchasing an additional 76,999 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of CECO Environmental by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,190,438 shares of the industrial products company’s stock worth $13,449,000 after purchasing an additional 150,978 shares during the period. Putnam Investments LLC boosted its holdings in shares of CECO Environmental by 237.2% during the second quarter. Putnam Investments LLC now owns 470,112 shares of the industrial products company’s stock worth $2,886,000 after purchasing an additional 330,700 shares during the period. K2 Principal Fund L.P. boosted its holdings in shares of CECO Environmental by 199.6% during the second quarter. K2 Principal Fund L.P. now owns 358,074 shares of the industrial products company’s stock worth $2,199,000 after purchasing an additional 238,550 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of CECO Environmental by 8.6% during the second quarter. Northern Trust Corp now owns 332,100 shares of the industrial products company’s stock worth $2,039,000 after purchasing an additional 26,434 shares during the period. Institutional investors and hedge funds own 65.05% of the company’s stock.

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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