CECO Environmental Corp. (NASDAQ:CECE) Given Consensus Rating of “Buy” by Brokerages

CECO Environmental Corp. (NASDAQ:CECE) has been given an average recommendation of “Buy” by the eight research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $9.92.

A number of brokerages recently commented on CECE. BidaskClub raised CECO Environmental from a “sell” rating to a “hold” rating in a research note on Thursday, February 28th. Zacks Investment Research cut CECO Environmental from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. B. Riley began coverage on CECO Environmental in a research note on Thursday, March 14th. They set a “buy” rating and a $9.50 price objective for the company. Maxim Group set a $10.00 price objective on CECO Environmental and gave the stock a “buy” rating in a research note on Friday, March 8th. Finally, Roth Capital raised CECO Environmental from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $8.00 to $10.00 in a research note on Tuesday, June 11th.

In related news, CEO Dennis Sadlowski acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was acquired at an average cost of $7.23 per share, with a total value of $28,920.00. Following the completion of the purchase, the chief executive officer now directly owns 110,700 shares in the company, valued at $800,361. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.10% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of CECE. BNP Paribas Arbitrage SA grew its stake in CECO Environmental by 508.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,337 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 5,295 shares during the period. Macquarie Group Ltd. grew its stake in CECO Environmental by 117.6% in the fourth quarter. Macquarie Group Ltd. now owns 7,304 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 3,948 shares during the period. Metropolitan Life Insurance Co. NY acquired a new position in CECO Environmental in the fourth quarter valued at about $73,000. SG Americas Securities LLC acquired a new position in CECO Environmental in the first quarter valued at about $73,000. Finally, Prudential Financial Inc. acquired a new position in CECO Environmental in the fourth quarter valued at about $75,000. 67.84% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ CECE traded up $0.08 during midday trading on Thursday, hitting $9.19. The stock had a trading volume of 3,528 shares, compared to its average volume of 151,486. The stock has a 50-day simple moving average of $9.08. The stock has a market cap of $322.13 million, a price-to-earnings ratio of 31.72, a P/E/G ratio of 1.16 and a beta of 0.90. CECO Environmental has a fifty-two week low of $5.83 and a fifty-two week high of $9.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.40 and a current ratio of 1.59.

CECO Environmental (NASDAQ:CECE) last released its earnings results on Wednesday, May 8th. The industrial products company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.04. CECO Environmental had a positive return on equity of 6.82% and a negative net margin of 3.16%. The company had revenue of $86.01 million during the quarter, compared to analysts’ expectations of $86.42 million. On average, sell-side analysts forecast that CECO Environmental will post 0.53 earnings per share for the current fiscal year.

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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