CECO Environmental Corp. (CECE) Stock Rating Lowered by Zacks Investment Research
CECO Environmental Corp. (NASDAQ:CECE) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Friday.
According to Zacks, “CECO ENVIRONMENTAL CORP. manufactures and sells, primarily in the United States, of fiber bed mist eliminators to the chemical, printing, plating, power generation, food processing, waste incineration and textile industries. “
Separately, Needham & Company LLC raised their price target on CECO Environmental Corp. from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $10.93.
CECO Environmental Corp. (NASDAQ:CECE) opened at 12.26 on Friday. The firm has a market cap of $416.96 million, a PE ratio of 42.13 and a beta of 1.58. CECO Environmental Corp. has a 1-year low of $5.60 and a 1-year high of $12.49. The company has a 50 day moving average price of $10.55 and a 200 day moving average price of $9.54.
CECO Environmental Corp. (NASDAQ:CECE) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. CECO Environmental Corp. had a return on equity of 11.22% and a net margin of 2.35%. The business earned $101.60 million during the quarter, compared to analyst estimates of $110.44 million. During the same period last year, the company earned $0.27 earnings per share. CECO Environmental Corp.’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that CECO Environmental Corp. will post $0.84 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 16th will be given a dividend of $0.066 per share. This represents a $0.26 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Wednesday, December 14th. CECO Environmental Corp.’s dividend payout ratio (DPR) is presently 89.66%.
Large investors have recently added to or reduced their stakes in the company. Foundry Partners LLC increased its stake in CECO Environmental Corp. by 0.3% in the second quarter. Foundry Partners LLC now owns 464,740 shares of the company’s stock worth $4,062,000 after buying an additional 1,275 shares during the period. Punch & Associates Investment Management Inc. boosted its position in shares of CECO Environmental Corp. by 13.1% in the second quarter. Punch & Associates Investment Management Inc. now owns 854,688 shares of the company’s stock worth $7,470,000 after buying an additional 98,754 shares in the last quarter. Manchester Capital Management LLC boosted its position in shares of CECO Environmental Corp. by 30.0% in the second quarter. Manchester Capital Management LLC now owns 66,733 shares of the company’s stock worth $583,000 after buying an additional 15,384 shares in the last quarter. Kirr Marbach & Co. LLC IN boosted its position in shares of CECO Environmental Corp. by 2.4% in the second quarter. Kirr Marbach & Co. LLC IN now owns 19,435 shares of the company’s stock worth $170,000 after buying an additional 450 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of CECO Environmental Corp. during the second quarter worth approximately $106,000. 53.54% of the stock is currently owned by institutional investors and hedge funds.
About CECO Environmental Corp.
CECO Environmental Corp. is a provider of engineered technologies to the environmental, energy, and fluid handling and filtration industrial segments. The Company focuses on engineering, designing, building and installing systems that capture, clean and destroy airborne contaminants from industrial facilities, as well as equipment that controls emissions from such facilities, and fluid handling and filtration systems.
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