CECO Environmental (NASDAQ:CECE) Cut to “Sell” at BidaskClub

BidaskClub downgraded shares of CECO Environmental (NASDAQ:CECE) from a hold rating to a sell rating in a research report report published on Thursday, BidAskClub reports.

Several other research firms have also recently issued reports on CECE. Zacks Investment Research cut shares of CECO Environmental from a buy rating to a hold rating in a research report on Tuesday, October 6th. Needham & Company LLC reiterated a buy rating and set a $10.00 price objective on shares of CECO Environmental in a research report on Monday, August 10th. Finally, HC Wainwright reiterated a buy rating and set a $9.00 price objective on shares of CECO Environmental in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $9.00.

NASDAQ CECE traded down $0.15 on Thursday, reaching $6.94. 1,556 shares of the stock were exchanged, compared to its average volume of 83,089. CECO Environmental has a one year low of $3.53 and a one year high of $9.00. The firm has a market capitalization of $251.65 million, a PE ratio of 14.71, a PEG ratio of 0.92 and a beta of 1.42. The company’s 50-day simple moving average is $7.73 and its two-hundred day simple moving average is $6.75. The company has a current ratio of 1.70, a quick ratio of 1.52 and a debt-to-equity ratio of 0.38.

CECO Environmental (NASDAQ:CECE) last released its earnings results on Wednesday, August 5th. The industrial products company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06. CECO Environmental had a net margin of 5.15% and a return on equity of 12.55%. The company had revenue of $75.17 million for the quarter, compared to analysts’ expectations of $71.70 million. Sell-side analysts forecast that CECO Environmental will post 0.56 earnings per share for the current fiscal year.

In other news, Director David B. Liner acquired 5,000 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was bought at an average cost of $8.65 per share, with a total value of $43,250.00. Following the completion of the purchase, the director now directly owns 70,014 shares of the company’s stock, valued at $605,621.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jason Dezwirek acquired 25,000 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were purchased at an average cost of $7.66 per share, with a total value of $191,500.00. Following the completion of the purchase, the director now directly owns 1,490,988 shares of the company’s stock, valued at $11,420,968.08. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 33,000 shares of company stock valued at $259,770. 13.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. boosted its stake in CECO Environmental by 12.1% during the first quarter. Alliancebernstein L.P. now owns 31,600 shares of the industrial products company’s stock worth $148,000 after buying an additional 3,400 shares during the period. Geode Capital Management LLC lifted its position in shares of CECO Environmental by 4.1% during the first quarter. Geode Capital Management LLC now owns 442,046 shares of the industrial products company’s stock worth $2,064,000 after purchasing an additional 17,453 shares during the last quarter. LSV Asset Management bought a new stake in shares of CECO Environmental during the second quarter worth $85,000. Nuveen Asset Management LLC lifted its position in shares of CECO Environmental by 8.6% during the first quarter. Nuveen Asset Management LLC now owns 116,993 shares of the industrial products company’s stock worth $547,000 after purchasing an additional 9,273 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of CECO Environmental by 88.0% during the second quarter. Bank of Montreal Can now owns 4,759 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 2,228 shares during the last quarter. 70.09% of the stock is owned by institutional investors.

CECO Environmental Company Profile

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, Industrial Solutions, and Fluid Handling 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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