CECO Environmental’s (CECE) “Buy” Rating Reaffirmed at Maxim Group

Maxim Group restated their buy rating on shares of CECO Environmental (NASDAQ:CECE) in a report issued on Thursday, AnalystRatings.com reports. The firm currently has a $10.00 price target on the industrial products company’s stock.

A number of other research analysts have also weighed in on CECE. ValuEngine raised CECO Environmental from a hold rating to a buy rating in a report on Wednesday. Needham & Company LLC reaffirmed a buy rating and set a $10.00 target price on shares of CECO Environmental in a report on Wednesday. Zacks Investment Research lowered CECO Environmental from a hold rating to a sell rating in a report on Thursday, October 17th. B. Riley set a $10.00 target price on CECO Environmental and gave the company a buy rating in a report on Wednesday, August 7th. Finally, BidaskClub lowered CECO Environmental from a sell rating to a strong sell rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $10.00.

Shares of NASDAQ:CECE traded up $0.17 during midday trading on Thursday, reaching $7.99. 134,000 shares of the company’s stock were exchanged, compared to its average volume of 111,585. The company’s 50 day simple moving average is $7.00 and its two-hundred day simple moving average is $8.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.39 and a current ratio of 1.61. The firm has a market capitalization of $251.36 million, a PE ratio of 27.55, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93. CECO Environmental has a 12 month low of $6.44 and a 12 month high of $9.84.

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

Hedge funds have recently made changes to their positions in the business. Marshall Wace LLP purchased a new position in CECO Environmental during the 1st quarter valued at approximately $233,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of CECO Environmental during the 2nd quarter valued at $170,000. Strs Ohio grew its stake in shares of CECO Environmental by 34.3% during the 2nd quarter. Strs Ohio now owns 37,200 shares of the industrial products company’s stock valued at $356,000 after buying an additional 9,500 shares during the period. SG Americas Securities LLC grew its stake in shares of CECO Environmental by 83.4% during the 2nd quarter. SG Americas Securities LLC now owns 18,646 shares of the industrial products company’s stock valued at $179,000 after buying an additional 8,480 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of CECO Environmental by 14.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 159,856 shares of the industrial products company’s stock valued at $1,533,000 after buying an additional 19,900 shares during the period. 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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