CECO Environmental (NASDAQ:CECE) Rating Increased to Buy at StockNews.com

CECO Environmental (NASDAQ:CECEGet Rating) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Several other analysts also recently weighed in on the stock. TheStreet raised shares of CECO Environmental from a “d+” rating to a “c-” rating in a report on Friday, May 27th. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of CECO Environmental in a research report on Tuesday, March 15th. Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of CECO Environmental in a research report on Tuesday, March 15th. Finally, Lake Street Capital initiated coverage on shares of CECO Environmental in a research report on Friday, April 29th. They issued a “buy” rating and a $14.00 price objective for the company. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $12.67.

Shares of CECE opened at $5.95 on Wednesday. CECO Environmental has a twelve month low of $4.09 and a twelve month high of $7.72. The firm’s fifty day simple moving average is $5.60 and its 200-day simple moving average is $5.74. The firm has a market capitalization of $209.14 million, a price-to-earnings ratio of 74.38, a PEG ratio of 0.72 and a beta of 1.20. The company has a current ratio of 1.60, a quick ratio of 1.43 and a debt-to-equity ratio of 0.38.

CECO Environmental (NASDAQ:CECEGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The industrial products company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.06 by $0.08. CECO Environmental had a net margin of 0.88% and a return on equity of 5.77%. The firm had revenue of $92.44 million for the quarter, compared to analyst estimates of $83.09 million. During the same period last year, the business earned $0.09 EPS. On average, analysts predict that CECO Environmental will post 0.54 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new position in shares of CECO Environmental in the first quarter valued at $57,000. The Manufacturers Life Insurance Company acquired a new stake in CECO Environmental in the third quarter valued at $91,000. Signet Investment Advisory Group Inc. acquired a new stake in CECO Environmental in the first quarter valued at $126,000. Renaissance Technologies LLC acquired a new stake in shares of CECO Environmental during the first quarter worth $253,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of CECO Environmental by 36.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 59,454 shares of the industrial products company’s stock worth $326,000 after purchasing an additional 15,752 shares during the period. Institutional investors and hedge funds own 65.37% of the company’s stock.

About CECO Environmental (Get Rating)

CECO Environmental Corp. provides industrial air quality and fluid handling systems worldwide. It operates in two segments: Engineered Systems Segment and Industrial Process Solutions Segment. The company engineers, designs, builds, and installs systems that capture, clean, and destroy air- and water-borne emissions from industrial facilities as well as fluid handling, gas separation, and filtration systems.

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