CECO Environmental Corp. (NASDAQ:CECE) Given Consensus Recommendation of “Buy” by Brokerages

Shares of CECO Environmental Corp. (NASDAQ:CECE – Get Rating) have received an average recommendation of “Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $12.67.

Several research analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $9.00 target price on shares of CECO Environmental in a report on Tuesday, March 15th. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of CECO Environmental in a report on Tuesday, March 15th. Lake Street Capital assumed coverage on CECO Environmental in a report on Friday, April 29th. They set a “buy” rating and a $14.00 target price on the stock. StockNews.com lowered CECO Environmental from a “buy” rating to a “hold” rating in a report on Friday. Finally, TheStreet lowered CECO Environmental from a “c” rating to a “d+” rating in a report on Monday, March 14th.

In other news, Director Richard F. Wallman purchased 13,087 shares of the company’s stock in a transaction on Monday, March 21st. The shares were purchased at an average price of $5.87 per share, with a total value of $76,820.69. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders acquired a total of 17,893 shares of company stock worth $103,170 in the last three months. Company insiders own 13.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Foundry Partners LLC increased its position in shares of CECO Environmental by 18.6% in the fourth quarter. Foundry Partners LLC now owns 477,425 shares of the industrial products company’s stock valued at $2,974,000 after acquiring an additional 74,950 shares during the last quarter. Barclays PLC lifted its holdings in shares of CECO Environmental by 83.4% during the third quarter. Barclays PLC now owns 53,115 shares of the industrial products company’s stock worth $374,000 after buying an additional 24,158 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of CECO Environmental during the third quarter worth $139,000. Marathon Capital Management lifted its holdings in shares of CECO Environmental by 1.3% during the third 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. Finally, Geode Capital Management LLC lifted its holdings in shares of CECO Environmental by 1.4% during the third quarter. Geode Capital Management LLC now owns 534,651 shares of the industrial products company’s stock worth $3,763,000 after buying an additional 7,546 shares in the last quarter. 65.37% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:CECE opened at $6.07 on Tuesday. CECO Environmental has a 12-month low of $4.09 and a 12-month high of $8.37. The company has a quick ratio of 1.43, a current ratio of 1.60 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $213.35 million, a P/E ratio of 75.88, a P/E/G ratio of 0.76 and a beta of 1.22. The stock’s fifty day simple moving average is $5.23 and its 200-day simple moving average is $5.78.

CECO Environmental (NASDAQ:CECE – Get Rating) last posted its quarterly earnings results on Tuesday, May 10th. The industrial products company reported $0.14 earnings per share (EPS) 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 analyst estimates of $83.09 million. During the same period last year, the company earned $0.09 EPS. As a group, equities research analysts expect that CECO Environmental will post 0.54 earnings per share for the current year.

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.

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