CECO Environmental (CECE) Downgraded by BidaskClub

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CECO Environmental (NASDAQ:CECE) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday, September 18th.

Other research analysts also recently issued reports about the stock. TheStreet raised shares of CECO Environmental from a “d” rating to a “c-” rating in a research report on Wednesday, June 6th. Needham & Company LLC raised their price objective on shares of CECO Environmental from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. ValuEngine raised shares of CECO Environmental from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Roth Capital set a $8.00 price objective on shares of CECO Environmental and gave the stock a “hold” rating in a research report on Thursday, August 9th. Finally, Zacks Investment Research raised shares of CECO Environmental from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.00.

Shares of NASDAQ CECE traded down $0.18 during mid-day trading on Tuesday, reaching $7.37. The company had a trading volume of 89,130 shares, compared to its average volume of 134,512. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.45. The company has a market capitalization of $275.10 million, a price-to-earnings ratio of 27.30, a price-to-earnings-growth ratio of 1.95 and a beta of 1.13. CECO Environmental has a 52-week low of $4.00 and a 52-week high of $9.41.

CECO Environmental (NASDAQ:CECE) last posted its earnings results on Wednesday, August 8th. The industrial products company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. CECO Environmental had a negative net margin of 1.18% and a positive return on equity of 1.55%. The firm had revenue of $81.09 million for the quarter, compared to the consensus estimate of $73.00 million. As a group, sell-side analysts forecast that CECO Environmental will post 0.27 earnings per share for the current year.

In other news, Director Jonathan Pollack bought 15,000 shares of CECO Environmental stock in a transaction dated Thursday, August 9th. The stock was bought at an average price of $8.61 per share, for a total transaction of $129,150.00. Following the purchase, the director now owns 37,364 shares of the company’s stock, valued at $321,704.04. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 13.44% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new stake in shares of CECO Environmental in the 2nd quarter worth $101,000. Shepherd Kaplan Krochuk LLC lifted its stake in shares of CECO Environmental by 103.6% in the 1st quarter. Shepherd Kaplan Krochuk LLC now owns 28,500 shares of the industrial products company’s stock worth $127,000 after acquiring an additional 14,500 shares during the period. Citadel Advisors LLC lifted its stake in shares of CECO Environmental by 24.0% in the 2nd quarter. Citadel Advisors LLC now owns 30,726 shares of the industrial products company’s stock worth $189,000 after acquiring an additional 5,937 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of CECO Environmental by 124.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 80,756 shares of the industrial products company’s stock worth $496,000 after acquiring an additional 44,700 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of CECO Environmental by 31.3% in the 1st quarter. Van ECK Associates Corp now owns 90,495 shares of the industrial products company’s stock worth $403,000 after acquiring an additional 21,547 shares during the period. Institutional investors own 65.56% of the company’s stock.

CECO Environmental Company Profile

CECO Environmental Corp. provides critical solutions to the environmental, energy, and fluid handling and filtration industries worldwide. The company operates through three segments: Energy, Environmental, and Fluid Handling and Filtration. The Energy segment offers gas turbine exhaust systems, dampers and diverters, gas and liquid separation and filtration equipment, selective catalytic reduction and selective non-catalytic reduction systems, acoustical components and silencers, secondary separators, and expansion joints for the power and petrochemical industries.

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