Zacks Investment Research upgraded shares of CECO Environmental (NASDAQ:CECE) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. The firm currently has $11.00 target price on the industrial products company’s stock.
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. “
CECE has been the topic of several other research reports. Maxim Group restated a buy rating and set a $10.00 price target on shares of CECO Environmental in a research note on Tuesday, January 15th. BidaskClub upgraded shares of CECO Environmental from a sell rating to a hold rating in a research note on Thursday, February 28th. B. Riley initiated coverage on shares of CECO Environmental in a research note on Tuesday, February 12th. They set a buy rating and a $9.50 price target on the stock. Finally, ValuEngine lowered shares of CECO Environmental from a strong-buy rating to a buy rating in a research note on Monday, February 4th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $9.58.
CECO Environmental stock opened at $9.62 on Tuesday. The company has a market capitalization of $337.55 million, a price-to-earnings ratio of 33.17, a P/E/G ratio of 1.28 and a beta of 1.12. The company has a current ratio of 1.59, a quick ratio of 1.40 and a debt-to-equity ratio of 0.48. CECO Environmental has a twelve month low of $5.67 and a twelve month high of $9.80.
CECO Environmental (NASDAQ:CECE) last released its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The firm had revenue of $86.01 million for the quarter, compared to analyst estimates of $86.42 million. CECO Environmental had a negative net margin of 3.16% and a positive return on equity of 6.82%. Equities research analysts forecast that CECO Environmental will post 0.5 earnings per share for the current year.
In other news, CEO Dennis Sadlowski bought 4,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were acquired at an average cost of $7.23 per share, for a total transaction of $28,920.00. Following the purchase, the chief executive officer now owns 110,700 shares of the company’s stock, valued at approximately $800,361. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David B. Liner bought 5,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average price of $7.13 per share, for a total transaction of $35,650.00. Following the completion of the purchase, the director now directly owns 42,860 shares in the company, valued at approximately $305,591.80. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 10,900 shares of company stock worth $80,036. 13.44% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Marshall Wace LLP acquired a new position in CECO Environmental in the 1st quarter valued at $233,000. Renaissance Technologies LLC grew its stake in CECO Environmental by 49.3% in the 1st quarter. Renaissance Technologies LLC now owns 188,773 shares of the industrial products company’s stock valued at $1,359,000 after buying an additional 62,373 shares during the last quarter. Trigran Investments Inc. grew its stake in CECO Environmental by 2.5% in the 1st quarter. Trigran Investments Inc. now owns 4,752,988 shares of the industrial products company’s stock valued at $34,222,000 after buying an additional 115,490 shares during the last quarter. Trexquant Investment LP grew its stake in CECO Environmental by 41.9% in the 1st quarter. Trexquant Investment LP now owns 46,006 shares of the industrial products company’s stock valued at $331,000 after buying an additional 13,582 shares during the last quarter. Finally, Citigroup Inc. grew its stake in CECO Environmental by 19.6% in the 1st quarter. Citigroup Inc. now owns 8,714 shares of the industrial products company’s stock valued at $63,000 after buying an additional 1,429 shares during the last quarter. Institutional investors and hedge funds own 67.46% of the company’s stock.
CECO Environmental Company Profile
CECO Environmental Corp. provides industrial air quality and fluid handling systems for the energy, industrial, and other markets worldwide. The company operates through three segments: Energy Solutions, Environmental Solutions, and Fluid Handling and Filtration Solutions. The company engineers, designs, builds, and installs systems that capture, clean, and destroy airborne contaminants from industrial facilities, as well as equipment that control emissions from such facilities; and fluid handling and filtration systems.
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