CECO Environmental (NASDAQ:CECE) Receives Buy Rating from Needham & Company LLC



CECO Environmental (NASDAQ:CECE – Get Rating)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research note issued on Friday. They currently have a $9.00 price target on the industrial products company’s stock. Needham & Company LLC’s target price indicates a potential upside of 49.01% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright reissued a “buy” rating and issued a $15.00 price target 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. Lake Street Capital initiated coverage on shares of CECO Environmental in a research report on Friday, April 29th. They set a “buy” rating and a $14.00 price objective for the company. Finally, StockNews.com cut shares of CECO Environmental from a “buy” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, CECO Environmental currently has an average rating of “Moderate Buy” and a consensus target price of $12.67.

Shares of CECE stock opened at $6.04 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.60 and a debt-to-equity ratio of 0.38. CECO Environmental has a 52 week low of $4.09 and a 52 week high of $7.72. The stock has a market capitalization of $212.30 million, a PE ratio of 75.51, a P/E/G ratio of 0.74 and a beta of 1.20. The firm has a 50 day moving average of $5.74 and a two-hundred day moving average of $5.74.

CECO Environmental (NASDAQ:CECE – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The industrial products company reported $0.14 EPS for the quarter, beating 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 company had revenue of $92.44 million during the quarter, compared to analysts’ expectations of $83.09 million. During the same quarter last year, the company posted $0.09 EPS. Analysts expect that CECO Environmental will post 0.54 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Heartland Advisors Inc. lifted its position in CECO Environmental by 34.8% in the fourth quarter. Heartland Advisors Inc. Now owns 987,100 shares of the industrial products company’s stock valued at $6,150,000 after acquiring an additional 254,818 shares during the last quarter. Tieton Capital Management LLC lifted its position in CECO Environmental by 20.6% in the first quarter. Tieton Capital Management LLC now owns 1,024,621 shares of the industrial products company’s stock valued at $5,625,000 after acquiring an additional 174,801 shares during the last quarter. Martin & Co. Inc. TN lifted its position in CECO Environmental by 42.9% in the first quarter. Martin & Co. Inc. TN now owns 284,931 shares of the industrial products company’s stock valued at $1,564,000 after acquiring an additional 85,571 shares during the last quarter. Foundry Partners LLC lifted its position in CECO Environmental by 18.6% in the fourth quarter. Foundry Partners LLC now owns 477,425 shares of the industrial products company’s stock valued at $2,974,000 after acquiring an additional 74,950 shares during the last quarter. Finally, White Pine Capital LLC lifted its position in CECO Environmental by 21.9% in the first quarter. White Pine Capital LLC now owns 305,408 shares of the industrial products company’s stock valued at $1,677,000 after acquiring an additional 54,780 shares during the last quarter. 65.37% of the stock is owned by institutional investors and hedge funds.

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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