Roth Capital upgraded shares of CECO Environmental (NASDAQ:CECE) from a neutral rating to a buy rating in a research note published on Tuesday morning, BenzingaRatingsTable reports. They currently have $10.00 price objective on the industrial products company’s stock, up from their previous price objective of $8.00.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of CECO Environmental from a hold rating to a buy rating and set a $11.00 target price for the company in a report on Tuesday, May 14th. BidaskClub upgraded shares of CECO Environmental from a sell rating to a hold rating in a report on Thursday, May 9th. B. Riley assumed coverage on shares of CECO Environmental in a report on Thursday, March 14th. They issued a buy rating and a $9.50 target price for the company. Finally, Maxim Group set a $10.00 target price on shares of CECO Environmental and gave the company a buy rating in a report on Friday, March 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $9.92.
CECO Environmental stock opened at $8.81 on Tuesday. CECO Environmental has a 1 year low of $5.83 and a 1 year high of $9.80. The company has a market capitalization of $313.36 million, a P/E ratio of 30.38, a P/E/G ratio of 1.19 and a beta of 0.90. The company has a quick ratio of 1.40, a current ratio of 1.59 and a debt-to-equity ratio of 0.48.
CECO Environmental (NASDAQ:CECE) last released its earnings results on Wednesday, May 8th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. CECO Environmental had a negative net margin of 3.16% and a positive return on equity of 6.82%. The firm had revenue of $86.01 million during the quarter, compared to the consensus estimate of $86.42 million. On average, research analysts predict that CECO Environmental will post 0.5 earnings per share for the current year.
In related news, CEO Dennis Sadlowski bought 4,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was purchased at an average cost of $7.23 per share, for a total transaction of $28,920.00. Following the completion of the acquisition, the chief executive officer now owns 110,700 shares in the company, valued at $800,361. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.44% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CECE. BNP Paribas Arbitrage SA grew its position in CECO Environmental by 508.2% during the first quarter. BNP Paribas Arbitrage SA now owns 6,337 shares of the industrial products company’s stock worth $46,000 after buying an additional 5,295 shares in the last quarter. Macquarie Group Ltd. grew its position in CECO Environmental by 117.6% during the fourth quarter. Macquarie Group Ltd. now owns 7,304 shares of the industrial products company’s stock worth $49,000 after buying an additional 3,948 shares in the last quarter. Strs Ohio purchased a new position in CECO Environmental during the fourth quarter worth about $56,000. Citigroup Inc. grew its position in CECO Environmental by 19.6% during the first quarter. Citigroup Inc. now owns 8,714 shares of the industrial products company’s stock worth $63,000 after buying an additional 1,429 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY purchased a new position in CECO Environmental during the fourth quarter worth about $73,000. Institutional investors own 67.84% of the company’s stock.
About CECO Environmental
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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