Maxim Group Reaffirms Buy Rating for CECO Environmental (NASDAQ:CECE)

Maxim Group reiterated their buy rating on shares of CECO Environmental (NASDAQ:CECE) in a research note released on Thursday morning, AnalystRatings.com reports. Maxim Group currently has a $10.00 price objective on the industrial products company’s stock.

A number of other brokerages also recently commented on CECE. Zacks Investment Research downgraded CECO Environmental from a hold rating to a sell rating in a research report on Thursday, October 17th. HC Wainwright reaffirmed a buy rating and issued a $9.00 price objective on shares of CECO Environmental in a research report on Thursday. B. Riley set a $10.00 price objective on CECO Environmental and gave the company a buy rating in a research report on Wednesday, August 7th. BidaskClub downgraded CECO Environmental from a sell rating to a strong sell rating in a research report on Friday, August 9th. Finally, ValuEngine raised CECO Environmental from a hold rating to a buy rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $10.00.

Shares of CECE traded up $0.17 during mid-day trading on Thursday, hitting $7.99. The company’s stock had a trading volume of 134,000 shares, compared to its average volume of 111,585. The firm has a market capitalization of $251.36 million, a P/E ratio of 27.55, a P/E/G ratio of 0.98 and a beta of 0.93. The company has a current ratio of 1.61, a quick ratio of 1.39 and a debt-to-equity ratio of 0.46. CECO Environmental has a 1-year low of $6.44 and a 1-year high of $9.84. The firm has a 50-day simple moving average of $7.00 and a 200 day simple moving average of $8.09.

CECO Environmental (NASDAQ:CECE) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). The business had revenue of $85.27 million during the quarter, compared to analysts’ expectations of $89.53 million. CECO Environmental had a negative net margin of 1.32% and a positive return on equity of 7.57%. As a group, sell-side analysts predict that CECO Environmental will post 0.48 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of CECE. Wells Fargo & Company MN boosted its holdings in CECO Environmental by 66.8% in the second quarter. Wells Fargo & Company MN now owns 627,222 shares of the industrial products company’s stock valued at $6,015,000 after acquiring an additional 251,116 shares during the last quarter. River & Mercantile Asset Management LLP acquired a new position in CECO Environmental in the second quarter valued at $2,253,000. Cadence Capital Management LLC acquired a new position in CECO Environmental in the third quarter valued at $1,534,000. Acadian Asset Management LLC boosted its holdings in CECO Environmental by 100.9% in the second quarter. Acadian Asset Management LLC now owns 221,831 shares of the industrial products company’s stock valued at $2,128,000 after acquiring an additional 111,430 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in CECO Environmental by 5.0% in the second quarter. BlackRock Inc. now owns 2,186,490 shares of the industrial products company’s stock valued at $20,969,000 after acquiring an additional 103,329 shares during the last quarter. Hedge funds and other institutional investors own 69.50% of the company’s stock.

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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