CECO Environmental Corp. (CECE) Upgraded to “Buy” by ValuEngine

CECO Environmental Corp. (NASDAQ:CECE) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Thursday, October 5th.

A number of other research analysts have also recently commented on the company. Zacks Investment Research cut CECO Environmental Corp. from a “hold” rating to a “strong sell” rating in a research note on Monday, August 14th. William Blair cut CECO Environmental Corp. from an “outperform” rating to a “market perform” rating in a research note on Friday, August 11th. BidaskClub lowered CECO Environmental Corp. from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Finally, Needham & Company LLC upgraded CECO Environmental Corp. from a “buy” rating to a “strong-buy” rating and boosted their price target for the company from $9.51 to $13.00 in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. CECO Environmental Corp. has an average rating of “Hold” and an average price target of $12.33.

Shares of CECO Environmental Corp. (NASDAQ CECE) opened at 8.64 on Thursday. CECO Environmental Corp. has a one year low of $6.94 and a one year high of $14.88. The firm’s market cap is $297.98 million. The firm’s 50-day moving average price is $8.15 and its 200 day moving average price is $9.30.

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

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In other CECO Environmental Corp. news, Director Jason Dezwirek acquired 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average price of $7.27 per share, for a total transaction of $181,750.00. Following the acquisition, the director now owns 1,410,616 shares in the company, valued at approximately $10,255,178.32. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan Pollack acquired 6,800 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average price of $7.31 per share, with a total value of $49,708.00. Following the acquisition, the director now owns 26,146 shares in the company, valued at approximately $191,127.26. The disclosure for this purchase can be found here. 14.30% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Trigran Investments Inc. lifted its holdings in shares of CECO Environmental Corp. by 26.1% during the 2nd quarter. Trigran Investments Inc. now owns 2,084,082 shares of the industrial products company’s stock valued at $19,132,000 after purchasing an additional 431,432 shares during the last quarter. King Luther Capital Management Corp lifted its holdings in shares of CECO Environmental Corp. by 6.1% during the 2nd quarter. King Luther Capital Management Corp now owns 1,841,429 shares of the industrial products company’s stock valued at $16,904,000 after purchasing an additional 105,800 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of CECO Environmental Corp. by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,775,095 shares of the industrial products company’s stock valued at $16,296,000 after purchasing an additional 126,086 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of CECO Environmental Corp. by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,253,869 shares of the industrial products company’s stock valued at $11,511,000 after purchasing an additional 49,909 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of CECO Environmental Corp. by 3.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,240,508 shares of the industrial products company’s stock valued at $11,388,000 after purchasing an additional 42,772 shares during the last quarter. Hedge funds and other institutional investors own 67.94% of the company’s stock.

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.

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

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