Brokerages Set CECO Environmental Corp. (CECE) PT at $12.33

Shares of CECO Environmental Corp. (NASDAQ:CECE) have received a consensus rating of “Hold” from the eight ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $12.33.

Several brokerages have weighed in on CECE. BidaskClub downgraded shares of CECO Environmental Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Needham & Company LLC raised shares of CECO Environmental Corp. from a “buy” rating to a “strong-buy” rating and raised their price target for the stock from $9.51 to $13.00 in a report on Thursday, July 6th. Zacks Investment Research cut shares of CECO Environmental Corp. from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. ValuEngine cut shares of CECO Environmental Corp. from a “buy” rating to a “hold” rating in a report on Friday. Finally, William Blair cut shares of CECO Environmental Corp. from an “outperform” rating to a “market perform” rating in a report on Friday, August 11th.

In related news, Director Jonathan Pollack purchased 6,800 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was acquired at an average price of $7.31 per share, with a total value of $49,708.00. Following the completion of the acquisition, the director now owns 26,146 shares in the company, valued at approximately $191,127.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jason Dezwirek purchased 25,000 shares of the firm’s stock in a transaction 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 acquisition, the director now owns 1,410,616 shares of the company’s stock, valued at approximately $10,255,178.32. The disclosure for this purchase can be found here. Company insiders own 14.30% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in CECO Environmental Corp. by 62.0% in the first quarter. JPMorgan Chase & Co. now owns 1,197,736 shares of the industrial products company’s stock worth $12,589,000 after buying an additional 458,315 shares in the last quarter. Trigran Investments Inc. boosted its position in CECO Environmental Corp. by 26.1% in the second quarter. Trigran Investments Inc. now owns 2,084,082 shares of the industrial products company’s stock worth $19,132,000 after buying an additional 431,432 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in CECO Environmental Corp. by 20.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,649,009 shares of the industrial products company’s stock worth $17,331,000 after buying an additional 279,323 shares in the last quarter. King Luther Capital Management Corp boosted its position in CECO Environmental Corp. by 16.4% in the first quarter. King Luther Capital Management Corp now owns 1,735,629 shares of the industrial products company’s stock worth $18,241,000 after buying an additional 244,640 shares in the last quarter. Finally, Systematic Financial Management LP boosted its position in shares of CECO Environmental Corp. by 64.8% in the first quarter. Systematic Financial Management LP now owns 483,904 shares of the industrial products company’s stock valued at $5,086,000 after buying an additional 190,279 shares during the period. 67.94% of the stock is owned by institutional investors and hedge funds.

Shares of CECO Environmental Corp. (NASDAQ CECE) traded up 0.40% during midday trading on Wednesday, reaching $7.50. 76,030 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $8.57 and its 200 day moving average is $9.87. The firm’s market cap is $258.66 million. CECO Environmental Corp. has a one year low of $6.94 and a one year high of $14.88.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.075 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.00%. CECO Environmental Corp.’s dividend payout ratio is currently -25.86%.

COPYRIGHT VIOLATION WARNING: This story was first reported by TrueBlueTribune and is the property of of TrueBlueTribune. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this story can be read at https://www.truebluetribune.com/2017/09/17/brokerages-set-ceco-environmental-corp-cece-pt-at-12-33.html.

CECO Environmental Corp. 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.

Receive News & Ratings for CECO Environmental Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CECO Environmental Corp. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply