CECO Environmental (CECE) Raised to “Strong-Buy” at ValuEngine

CECO Environmental (NASDAQ:CECE) was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.

CECE has been the topic of a number of other reports. Zacks Investment Research upgraded shares of CECO Environmental from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Needham & Company LLC raised their price target on shares of CECO Environmental from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Roth Capital set a $8.00 price target on shares of CECO Environmental and gave the stock a “hold” rating in a research report on Thursday, August 9th. Finally, BidaskClub downgraded shares of CECO Environmental from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $9.00.

Shares of CECO Environmental stock traded down $0.25 during trading hours on Thursday, reaching $8.08. The company’s stock had a trading volume of 99,100 shares, compared to its average volume of 128,223. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.45 and a current ratio of 1.65. CECO Environmental has a one year low of $4.00 and a one year high of $9.18. The company has a market cap of $281.04 million, a P/E ratio of 29.93, a PEG ratio of 1.99 and a beta of 0.92.

CECO Environmental (NASDAQ:CECE) last posted its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.02. CECO Environmental had a negative net margin of 1.18% and a positive return on equity of 1.55%. The company had revenue of $88.26 million for the quarter, compared to the consensus estimate of $83.50 million. As a group, sell-side analysts predict that CECO Environmental will post 0.27 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. DnB Asset Management AS bought a new stake in CECO Environmental in the 2nd quarter valued at about $1,611,000. Private Advisor Group LLC bought a new stake in CECO Environmental in the 2nd quarter valued at about $101,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in CECO Environmental by 9.8% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 329,513 shares of the industrial products company’s stock valued at $2,023,000 after purchasing an additional 29,400 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in CECO Environmental by 124.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 80,756 shares of the industrial products company’s stock valued at $496,000 after purchasing an additional 44,700 shares during the last quarter. Finally, Trigran Investments Inc. lifted its position in CECO Environmental by 1.8% in the 2nd quarter. Trigran Investments Inc. now owns 4,364,505 shares of the industrial products company’s stock valued at $26,798,000 after purchasing an additional 76,999 shares during the last quarter. Hedge funds and other institutional investors own 65.05% of the company’s stock.

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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