CECO Environmental Corp. (CECE) Receives $9.00 Average Target Price from Brokerages

CECO Environmental Corp. (NASDAQ:CECE) has been given a consensus recommendation of “Buy” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $9.00.

CECE has been the topic of several analyst reports. Zacks Investment Research upgraded CECO Environmental from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. ValuEngine upgraded CECO Environmental from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Needham & Company LLC boosted their price objective on CECO Environmental from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. Roth Capital set a $8.00 price objective on CECO Environmental and gave the company 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.

Several institutional investors have recently made changes to their positions in CECE. Private Advisor Group LLC purchased a new position in shares of CECO Environmental in the second quarter valued at about $101,000. Citadel Advisors LLC lifted its position in shares of CECO Environmental by 24.0% in the second quarter. Citadel Advisors LLC now owns 30,726 shares of the industrial products company’s stock valued at $189,000 after acquiring an additional 5,937 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of CECO Environmental by 315.3% in the third quarter. Acadian Asset Management LLC now owns 27,068 shares of the industrial products company’s stock valued at $212,000 after acquiring an additional 20,550 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of CECO Environmental by 26.2% in the first quarter. California Public Employees Retirement System now owns 105,855 shares of the industrial products company’s stock valued at $471,000 after acquiring an additional 21,950 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of CECO Environmental by 124.0% in the second quarter. Janney Montgomery Scott LLC now owns 80,756 shares of the industrial products company’s stock valued at $496,000 after acquiring an additional 44,700 shares in the last quarter. Institutional investors and hedge funds own 65.05% of the company’s stock.

NASDAQ CECE opened at $7.82 on Wednesday. The firm has a market cap of $290.81 million, a P/E ratio of 28.96, a P/E/G ratio of 2.06 and a beta of 0.92. The company has a current ratio of 1.65, a quick ratio of 1.45 and a debt-to-equity ratio of 0.42. CECO Environmental has a fifty-two week low of $4.00 and a fifty-two week high of $9.18.

CECO Environmental (NASDAQ:CECE) last released its earnings results on Wednesday, November 7th. The industrial products company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The company had revenue of $88.26 million for the quarter, compared to the consensus estimate of $83.50 million. CECO Environmental had a positive return on equity of 2.76% and a negative net margin of 6.20%. On average, equities research analysts anticipate that CECO Environmental will post 0.27 EPS for the current year.

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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