CECO Environmental (CECE) Lifted to Buy at ValuEngine

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

CECE has been the subject of a number of other reports. Zacks Investment Research upgraded CECO Environmental from a sell rating to a hold rating in a research report on Wednesday, July 18th. Needham & Company LLC upped their target price on CECO Environmental from $7.00 to $10.00 and gave the stock a buy rating in a research report on Thursday, August 9th. Roth Capital set a $8.00 target price on CECO Environmental and gave the stock a hold rating in a research report on Thursday, August 9th. Finally, BidaskClub downgraded CECO Environmental from a hold rating to a sell rating in a research report on Tuesday, September 18th. One 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’s stock. The stock currently has an average rating of Hold and an average target price of $9.00.

CECE traded up $0.12 during trading on Thursday, reaching $7.73. The stock had a trading volume of 323 shares, compared to its average volume of 56,942. The company has a market capitalization of $265.67 million, a price-to-earnings ratio of 28.44, a price-to-earnings-growth 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 has a 1-year low of $4.00 and a 1-year high of $9.18.

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

In related news, Director Jonathan Pollack acquired 15,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The stock was bought at an average price of $8.61 per share, for a total transaction of $129,150.00. Following the transaction, the director now owns 37,364 shares of the company’s stock, valued at $321,704.04. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 13.44% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in CECE. JPMorgan Chase & Co. lifted its position in shares of CECO Environmental by 5.1% during the 1st quarter. JPMorgan Chase & Co. now owns 233,721 shares of the industrial products company’s stock valued at $1,040,000 after acquiring an additional 11,420 shares during the last quarter. California Public Employees Retirement System raised its stake in CECO Environmental by 26.2% during the 1st quarter. California Public Employees Retirement System now owns 105,855 shares of the industrial products company’s stock valued at $471,000 after purchasing an additional 21,950 shares during the period. Dimensional Fund Advisors LP raised its stake in CECO Environmental by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,039,460 shares of the industrial products company’s stock valued at $9,076,000 after purchasing an additional 95,688 shares during the period. DnB Asset Management AS acquired a new stake in CECO Environmental during the 2nd quarter valued at $1,611,000. Finally, Janney Montgomery Scott LLC raised its stake in CECO Environmental by 124.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 80,756 shares of the industrial products company’s stock valued at $496,000 after purchasing an additional 44,700 shares during the period. Institutional investors 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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