CECO Environmental (NASDAQ:CECE) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of CECO Environmental (NASDAQ:CECE – Get Rating) from a hold rating to a buy rating in a research report report published on Wednesday morning.

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

CECO Environmental stock opened at $5.83 on Wednesday. The company’s 50-day moving average price is $5.56 and its 200-day moving average price is $5.75. CECO Environmental has a twelve month low of $4.09 and a twelve month high of $7.72. 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 company has a market cap of $204.92 million, a PE ratio of 72.88, a price-to-earnings-growth ratio of 0.71 and a beta of 1.20.

CECO Environmental (NASDAQ:CECE – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The industrial products company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $83.09 million. During the same period in the previous year, the company earned $0.09 EPS. As a group, sell-side analysts expect that CECO Environmental will post 0.54 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in CECE. Engineers Gate Manager LP purchased a new stake in CECO Environmental in the 1st quarter valued at about $57,000. The Manufacturers Life Insurance Company purchased a new stake in shares of CECO Environmental in the 3rd quarter worth approximately $91,000. Signet Investment Advisory Group Inc. purchased a new stake in shares of CECO Environmental in the 1st quarter worth approximately $126,000. Renaissance Technologies LLC purchased a new stake in shares of CECO Environmental in the 1st quarter worth approximately $253,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of CECO Environmental by 36.0% in the 1st 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. 65.37% of the stock is owned by institutional investors.

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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