CECO Environmental (CECE) Rating Lowered to Hold at ValuEngine

ValuEngine cut shares of CECO Environmental (NASDAQ:CECE) from a buy rating to a hold rating in a research report sent to investors on Sunday.

CECE has been the topic of a number of other research reports. TheStreet lowered shares of CECO Environmental from a c- rating to a d+ rating in a report on Monday, November 27th. Needham & Company LLC lowered shares of CECO Environmental from a strong-buy rating to a buy rating in a report on Thursday, November 9th. Zacks Investment Research lowered shares of CECO Environmental from a hold rating to a sell rating in a report on Tuesday, November 7th. Finally, Roth Capital reaffirmed a neutral rating on shares of CECO Environmental in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $12.00.

Shares of CECO Environmental (NASDAQ:CECE) opened at $5.15 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.57 and a debt-to-equity ratio of 0.54. CECO Environmental has a fifty-two week low of $4.68 and a fifty-two week high of $14.46. The firm has a market cap of $178.74, a PE ratio of -4.09, a PEG ratio of 0.61 and a beta of 1.31.

CECO Environmental (NASDAQ:CECE) last issued its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). CECO Environmental had a positive return on equity of 11.91% and a negative net margin of 11.47%. The company had revenue of $85.00 million for the quarter, compared to the consensus estimate of $92.66 million. During the same period in the prior year, the company earned $0.24 EPS. The firm’s revenue was down 16.3% compared to the same quarter last year. research analysts expect that CECO Environmental will post 0.39 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new position in shares of CECO Environmental in the 2nd quarter valued at about $101,000. Voya Investment Management LLC raised its position in shares of CECO Environmental by 23.2% in the 2nd quarter. Voya Investment Management LLC now owns 15,660 shares of the industrial products company’s stock valued at $144,000 after acquiring an additional 2,947 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of CECO Environmental in the 3rd quarter valued at approximately $205,000. Sei Investments Co. acquired a new stake in shares of CECO Environmental in the 3rd quarter valued at approximately $210,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of CECO Environmental by 10.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,404 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 2,471 shares during the period. 67.49% of the stock is currently owned by institutional investors.

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About CECO Environmental

CECO Environmental Corp. is a provider of engineered technologies to the environmental, energy, and fluid handling and filtration industrial segments. The Company is focused on engineering, designing, building and installing systems that capture, clean and destroy airborne contaminants from industrial facilities, as well as equipment that controls emissions from such facilities, and fluid handling and filtration systems.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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