CECO Environmental (NASDAQ:CECE) Share Price Crosses Above Two Hundred Day Moving Average of $5.74

CECO Environmental Corp. (NASDAQ:CECEGet Rating)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.74 and traded as high as $5.83. CECO Environmental shares last traded at $5.72, with a volume of 12,138 shares trading hands.

A number of research analysts recently weighed in on CECE shares. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of CECO Environmental in a research report on Tuesday, March 15th. TheStreet raised shares of CECO Environmental from a “d+” rating to a “c-” rating in a research report on Friday, May 27th. StockNews.com downgraded shares of CECO Environmental from a “buy” rating to a “hold” rating in a research report on Tuesday, May 31st. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price target on shares of CECO Environmental in a research note on Tuesday, March 15th. Finally, Lake Street Capital assumed coverage on shares of CECO Environmental in a research note on Friday, April 29th. They issued a “buy” rating and a $14.00 price target for the company. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $12.67.

The stock has a market cap of $201.05 million, a price-to-earnings ratio of 71.51, a PEG ratio of 0.71 and a beta of 1.20. The company has a quick ratio of 1.43, a current ratio of 1.60 and a debt-to-equity ratio of 0.38. The business’s 50 day simple moving average is $5.54 and its 200 day simple moving average is $5.74.

CECO Environmental (NASDAQ:CECEGet Rating) last posted its earnings results on Tuesday, May 10th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.08. The company had revenue of $92.44 million during the quarter, compared to analysts’ expectations of $83.09 million. CECO Environmental had a net margin of 0.88% and a return on equity of 5.77%. During the same quarter last year, the company posted $0.09 EPS. Equities research analysts forecast that CECO Environmental Corp. will post 0.54 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in shares of CECO Environmental by 13.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 65,168 shares of the industrial products company’s stock worth $358,000 after buying an additional 7,969 shares during the last quarter. State Street Corp lifted its stake in shares of CECO Environmental by 0.7% during the 1st quarter. State Street Corp now owns 576,112 shares of the industrial products company’s stock worth $3,163,000 after buying an additional 4,056 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of CECO Environmental during the 1st quarter worth about $57,000. Renaissance Technologies LLC acquired a new stake in shares of CECO Environmental during the 1st quarter worth about $253,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of CECO Environmental by 36.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 59,454 shares of the industrial products company’s stock worth $326,000 after buying an additional 15,752 shares during the last quarter. Institutional investors own 65.37% of the company’s stock.

About CECO Environmental (NASDAQ:CECE)

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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