Maxim Group Reiterates $10.00 Price Target for CECO Environmental (CECE)

Maxim Group set a $10.00 price target on CECO Environmental (NASDAQ:CECE) in a research note released on Wednesday, TipRanks reports. The brokerage currently has a buy rating on the industrial products company’s stock.

A number of other analysts have also recently commented on CECE. BidaskClub cut CECO Environmental from a hold rating to a sell rating in a research report on Friday, March 22nd. Zacks Investment Research raised CECO Environmental from a hold rating to a buy rating and set a $8.50 price target for the company in a research report on Tuesday, March 12th. B. Riley started coverage on CECO Environmental in a research report on Thursday, March 14th. They set a buy rating and a $9.50 price target for the company. Finally, ValuEngine cut CECO Environmental from a strong-buy rating to a buy rating in a report on Monday, February 4th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $9.17.

CECE traded up $0.07 on Wednesday, reaching $9.42. 232,736 shares of the stock were exchanged, compared to its average volume of 86,537. CECO Environmental has a fifty-two week low of $5.17 and a fifty-two week high of $9.65. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.59. The stock has a market cap of $327.73 million, a P/E ratio of 26.71, a P/E/G ratio of 1.34 and a beta of 1.12.

CECO Environmental (NASDAQ:CECE) last issued its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. CECO Environmental had a positive return on equity of 6.82% and a negative net margin of 3.16%. The company had revenue of $86.01 million during the quarter, compared to analysts’ expectations of $86.42 million. Analysts predict that CECO Environmental will post 0.47 EPS for the current fiscal year.

In related news, CEO Dennis Sadlowski acquired 4,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was acquired at an average price of $7.23 per share, with a total value of $28,920.00. Following the acquisition, the chief executive officer now directly owns 110,700 shares in the company, valued at approximately $800,361. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David B. Liner acquired 5,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was bought at an average cost of $7.13 per share, with a total value of $35,650.00. Following the acquisition, the director now owns 42,860 shares in the company, valued at $305,591.80. The disclosure for this purchase can be found here. Insiders own 13.44% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Federated Investors Inc. PA increased its stake in shares of CECO Environmental by 0.5% in the 1st quarter. Federated Investors Inc. PA now owns 210,357 shares of the industrial products company’s stock valued at $1,515,000 after purchasing an additional 1,089 shares in the last quarter. Northern Trust Corp increased its stake in shares of CECO Environmental by 0.6% in the 4th quarter. Northern Trust Corp now owns 347,637 shares of the industrial products company’s stock valued at $2,346,000 after purchasing an additional 2,048 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of CECO Environmental by 0.7% in the 1st quarter. Wells Fargo & Company MN now owns 376,106 shares of the industrial products company’s stock valued at $2,709,000 after purchasing an additional 2,785 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of CECO Environmental by 1.8% in the 4th quarter. California Public Employees Retirement System now owns 221,371 shares of the industrial products company’s stock valued at $1,494,000 after purchasing an additional 3,893 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of CECO Environmental by 117.6% in the 4th quarter. Macquarie Group Ltd. now owns 7,304 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 3,948 shares in the last quarter. 67.36% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for CECO Environmental (NASDAQ:CECE)

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