CECO Environmental Corp. (NASDAQ:CECE) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Several other analysts also recently weighed in on CECE. Needham & Company LLC raised shares of CECO Environmental Corp. from a “buy” rating to a “strong-buy” rating and boosted their price target for the stock from $9.51 to $13.00 in a research note on Thursday, July 6th. BidaskClub raised shares of CECO Environmental Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Zacks Investment Research raised shares of CECO Environmental Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, William Blair downgraded shares of CECO Environmental Corp. from an “outperform” rating to a “market perform” rating in a research note on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $12.33.

CECO Environmental Corp. (NASDAQ CECE) opened at 8.55 on Thursday. CECO Environmental Corp. has a 52 week low of $6.94 and a 52 week high of $14.88. The stock has a 50 day moving average price of $7.90 and a 200-day moving average price of $9.38. The company’s market capitalization is $294.87 million.

CECO Environmental Corp. (NASDAQ:CECE) last posted its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.11). The business had revenue of $93.90 million during the quarter, compared to the consensus estimate of $99.09 million. CECO Environmental Corp. had a positive return on equity of 14.60% and a negative net margin of 10.27%. The business’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, equities analysts predict that CECO Environmental Corp. will post $0.59 earnings per share for the current fiscal year.

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In related news, Director Jonathan Pollack purchased 6,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was bought at an average cost of $7.31 per share, with a total value of $49,708.00. Following the completion of the purchase, the director now directly owns 26,146 shares in the company, valued at $191,127.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jason Dezwirek purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was bought at an average cost of $7.27 per share, with a total value of $181,750.00. Following the completion of the purchase, the director now owns 1,410,616 shares of the company’s stock, valued at $10,255,178.32. The disclosure for this purchase can be found here. Corporate insiders own 14.30% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new position in CECO Environmental Corp. in the second quarter worth about $372,000. Martin & Co. Inc. TN raised its stake in CECO Environmental Corp. by 0.9% in the second quarter. Martin & Co. Inc. TN now owns 171,035 shares of the industrial products company’s stock worth $1,570,000 after buying an additional 1,550 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in CECO Environmental Corp. by 10.3% in the second quarter. The Manufacturers Life Insurance Company now owns 26,404 shares of the industrial products company’s stock worth $242,000 after buying an additional 2,471 shares in the last quarter. State Street Corp raised its stake in CECO Environmental Corp. by 9.8% in the second quarter. State Street Corp now owns 490,633 shares of the industrial products company’s stock worth $4,507,000 after buying an additional 43,751 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in CECO Environmental Corp. by 133.4% in the second quarter. Goldman Sachs Group Inc. now owns 167,158 shares of the industrial products company’s stock worth $1,534,000 after buying an additional 95,545 shares in the last quarter. 67.94% of the stock is owned by institutional investors.

About CECO Environmental Corp.

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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