StockNews.com Downgrades CECO Environmental (NASDAQ:CECE) to Hold

CECO Environmental (NASDAQ:CECEGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other analysts have also commented on CECE. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price objective on shares of CECO Environmental in a research report on Tuesday, March 15th. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of CECO Environmental in a research note on Tuesday, March 15th. Lake Street Capital assumed coverage on CECO Environmental in a research note on Friday, April 29th. They issued a “buy” rating and a $14.00 target price on the stock. Finally, TheStreet lowered CECO Environmental from a “c” rating to a “d+” rating in a report on Monday, March 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, CECO Environmental currently has an average rating of “Buy” and a consensus price target of $12.67.

NASDAQ:CECE traded down $0.12 on Friday, hitting $6.05. The stock had a trading volume of 156,613 shares, compared to its average volume of 105,340. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.43 and a current ratio of 1.60. The stock has a market cap of $212.65 million, a P/E ratio of 75.63, a price-to-earnings-growth ratio of 0.73 and a beta of 1.22. The firm’s fifty day simple moving average is $5.21 and its two-hundred day simple moving average is $5.81. CECO Environmental has a 1 year low of $4.09 and a 1 year high of $8.37.

CECO Environmental (NASDAQ:CECEGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The industrial products company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.08. CECO Environmental had a return on equity of 5.77% and a net margin of 0.88%. The business had revenue of $92.44 million for the quarter, compared to analysts’ expectations of $83.09 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Equities research analysts predict that CECO Environmental will post 0.54 EPS for the current year.

In related news, Director Richard F. Wallman bought 13,087 shares of the business’s stock in a transaction on Monday, March 21st. The stock was acquired at an average price of $5.87 per share, for a total transaction of $76,820.69. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have acquired 17,893 shares of company stock worth $103,170. Company insiders own 13.50% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in CECE. Royal Bank of Canada grew its holdings in shares of CECO Environmental by 9.7% during the third quarter. Royal Bank of Canada now owns 19,889 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 1,765 shares in the last quarter. Marathon Capital Management grew its stake in CECO Environmental by 1.3% in the 3rd quarter. Marathon Capital Management now owns 158,225 shares of the industrial products company’s stock worth $1,114,000 after buying an additional 2,000 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of CECO Environmental by 13.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 20,160 shares of the industrial products company’s stock worth $126,000 after buying an additional 2,350 shares during the last quarter. Invesco Ltd. raised its position in shares of CECO Environmental by 7.7% during the 3rd quarter. Invesco Ltd. now owns 36,028 shares of the industrial products company’s stock valued at $254,000 after buying an additional 2,572 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of CECO Environmental by 0.7% during the 1st quarter. State Street Corp now owns 576,112 shares of the industrial products company’s stock worth $3,163,000 after acquiring an additional 4,056 shares during the last quarter. 65.37% of the stock is currently owned by hedge funds and other institutional investors.

CECO Environmental Company Profile (Get Rating)

CECO Environmental Corp. provides industrial air quality and fluid handling systems worldwide. It operates in two segments: Engineered Systems Segment and Industrial Process Solutions Segment. The company engineers, designs, builds, and installs systems that capture, clean, and destroy air- and water-borne emissions from industrial facilities as well as fluid handling, gas separation, and filtration systems.

Featured Articles

Receive News & Ratings for CECO Environmental Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CECO Environmental and related companies with MarketBeat.com's FREE daily email newsletter.