Analysts Set CECO Environmental Corp. (CECE) Price Target at $9.30

Shares of CECO Environmental Corp. (NASDAQ:CECE) have been assigned a consensus rating of “Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $9.17.

Several analysts have recently weighed in on the stock. ValuEngine cut shares of CECO Environmental from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 4th. Zacks Investment Research cut shares of CECO Environmental from a “buy” rating to a “hold” rating in a research report on Monday, January 21st. HC Wainwright assumed coverage on shares of CECO Environmental in a research report on Tuesday, December 18th. They set a “buy” rating and a $9.00 price objective on the stock. Maxim Group assumed coverage on shares of CECO Environmental in a research report on Thursday, December 13th. They set a “buy” rating and a $10.00 price objective on the stock. Finally, B. Riley assumed coverage on shares of CECO Environmental in a research report on Thursday. They set a “buy” rating and a $9.50 price objective on the stock.

In other CECO Environmental news, Director David B. Liner bought 5,000 shares of CECO Environmental stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average price of $7.13 per share, with a total value of $35,650.00. Following the acquisition, the director now owns 42,860 shares in the company, valued at $305,591.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have purchased 7,000 shares of company stock worth $48,830. 13.44% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp grew its holdings in shares of CECO Environmental by 0.6% during the 4th quarter. Northern Trust Corp now owns 347,637 shares of the industrial products company’s stock valued at $2,346,000 after purchasing an additional 2,048 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of CECO Environmental by 1.8% during the 4th quarter. California Public Employees Retirement System now owns 221,371 shares of the industrial products company’s stock valued at $1,494,000 after purchasing an additional 3,893 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of CECO Environmental by 117.6% during the 4th quarter. Macquarie Group Ltd. now owns 7,304 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 3,948 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of CECO Environmental by 5.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 117,756 shares of the industrial products company’s stock valued at $795,000 after purchasing an additional 6,100 shares during the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of CECO Environmental by 21.8% during the 3rd quarter. Citadel Advisors LLC now owns 37,436 shares of the industrial products company’s stock valued at $295,000 after purchasing an additional 6,710 shares during the last quarter. 67.05% of the stock is currently owned by institutional investors.

Shares of CECO Environmental stock traded down $0.17 on Tuesday, hitting $7.54. 224,680 shares of the company traded hands, compared to its average volume of 78,070. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 1.55. The stock has a market cap of $263.75 million, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 1.13 and a beta of 1.11. CECO Environmental has a 12-month low of $4.37 and a 12-month high of $9.18.

CECO Environmental (NASDAQ:CECE) last posted its quarterly earnings data on Thursday, March 7th. The industrial products company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.01). The company had revenue of $93.85 million for the quarter, compared to analysts’ expectations of $88.91 million. CECO Environmental had a negative net margin of 2.11% and a positive return on equity of 5.36%. On average, analysts predict that CECO Environmental will post 0.46 earnings per share for the current year.

About CECO Environmental

CECO Environmental Corp. provides industrial air quality and fluid handling systems for the energy, industrial, and other markets worldwide. The company operates through three segments: Energy Solutions, Environmental Solutions, and Fluid Handling and Filtration Solutions. The company engineers, designs, builds, and installs systems that capture, clean, and destroy airborne contaminants from industrial facilities, as well as equipment that control emissions from such facilities; and fluid handling and filtration systems.

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Analyst Recommendations for CECO Environmental (NASDAQ:CECE)

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