CECO Environmental (NASDAQ:CECE) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of CECO Environmental (NASDAQ:CECE) from a sell rating to a hold rating in a research note released on Saturday morning, BidAskClub reports.

Other equities analysts also recently issued research reports about the company. ValuEngine upgraded CECO Environmental from a hold rating to a buy rating in a research report on Wednesday. B. Riley set a $10.00 target price on CECO Environmental and gave the stock a buy rating in a research report on Wednesday, August 7th. Zacks Investment Research upgraded CECO Environmental from a sell rating to a hold rating in a research report on Friday. Maxim Group restated a buy rating and set a $10.00 target price on shares of CECO Environmental in a research report on Thursday. Finally, HC Wainwright restated a buy rating and set a $9.00 target price on shares of CECO Environmental in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $10.00.

Shares of CECE traded up $0.17 during midday trading on Friday, reaching $7.99. 134,000 shares of the stock were exchanged, compared to its average volume of 111,585. CECO Environmental has a 12-month low of $6.44 and a 12-month high of $9.84. The company has a market cap of $251.36 million, a price-to-earnings ratio of 27.55, a P/E/G ratio of 0.98 and a beta of 0.93. The firm has a 50 day simple moving average of $7.00 and a 200-day simple moving average of $8.09. The company has a quick ratio of 1.39, a current ratio of 1.61 and a debt-to-equity ratio of 0.46.

CECO Environmental (NASDAQ:CECE) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.01). The firm had revenue of $85.27 million for the quarter, compared to analyst estimates of $89.53 million. CECO Environmental had a positive return on equity of 7.57% and a negative net margin of 1.32%. Research analysts expect that CECO Environmental will post 0.48 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the stock. Morgan Stanley lifted its position in shares of CECO Environmental by 2.2% during the 2nd quarter. Morgan Stanley now owns 83,620 shares of the industrial products company’s stock worth $802,000 after buying an additional 1,826 shares during the period. Bank of Montreal Can raised its position in CECO Environmental by 102.9% in the 2nd quarter. Bank of Montreal Can now owns 5,153 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 2,613 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in CECO Environmental by 3.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 73,457 shares of the industrial products company’s stock valued at $705,000 after purchasing an additional 2,644 shares during the last quarter. Rhumbline Advisers raised its position in CECO Environmental by 8.9% in the 3rd quarter. Rhumbline Advisers now owns 47,012 shares of the industrial products company’s stock valued at $328,000 after purchasing an additional 3,861 shares during the last quarter. Finally, Northern Trust Corp raised its position in CECO Environmental by 1.5% in the 2nd quarter. Northern Trust Corp now owns 351,522 shares of the industrial products company’s stock valued at $3,372,000 after purchasing an additional 5,261 shares during the last quarter. Institutional investors and hedge funds own 69.50% of the company’s stock.

CECO Environmental Company Profile

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.

Read More: Elliott Wave Theory

Analyst Recommendations for CECO Environmental (NASDAQ:CECE)

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.