CECO Environmental (CECE) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of CECO Environmental (NASDAQ:CECE) from a sell rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “CECO ENVIRONMENTAL CORP. manufactures and sells, primarily in the United States, of fiber bed mist eliminators to the chemical, printing, plating, power generation, food processing, waste incineration and textile industries. “
Other equities research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of CECO Environmental from a hold rating to a buy rating in a report on Thursday, October 5th. Roth Capital restated a neutral rating on shares of CECO Environmental in a report on Thursday, November 9th. TheStreet cut shares of CECO Environmental from a c- rating to a d+ rating in a report on Monday, November 27th. Finally, Needham & Company LLC cut shares of CECO Environmental from a strong-buy rating to a buy rating in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $12.00.
Shares of CECO Environmental (CECE) traded down $0.07 on Tuesday, reaching $5.22. 121,863 shares of the company’s stock were exchanged, compared to its average volume of 172,111. The stock has a market capitalization of $183.60, a PE ratio of -4.14, a PEG ratio of 0.63 and a beta of 1.31. The company has a current ratio of 1.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.54. CECO Environmental has a twelve month low of $4.68 and a twelve month high of $13.98.
CECO Environmental (NASDAQ:CECE) last announced its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.12). The business had revenue of $85.00 million during the quarter, compared to analysts’ expectations of $92.66 million. CECO Environmental had a positive return on equity of 11.91% and a negative net margin of 11.47%. CECO Environmental’s revenue for the quarter was down 16.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS. sell-side analysts forecast that CECO Environmental will post 0.39 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL purchased a new stake in shares of CECO Environmental during the second quarter valued at approximately $101,000. Voya Investment Management LLC grew its holdings in shares of CECO Environmental by 23.2% during the second quarter. Voya Investment Management LLC now owns 15,660 shares of the industrial products company’s stock valued at $144,000 after buying an additional 2,947 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in shares of CECO Environmental during the third quarter valued at approximately $205,000. Sei Investments Co. purchased a new stake in shares of CECO Environmental during the third quarter valued at approximately $210,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of CECO Environmental by 10.3% during the second quarter. The Manufacturers Life Insurance Company now owns 26,404 shares of the industrial products company’s stock valued at $242,000 after buying an additional 2,471 shares during the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.
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CECO Environmental Company Profile
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.
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