Jefferies Group Reiterates Hold Rating for CECO Environmental Corp. (CECE)
CECO Environmental Corp. (NASDAQ:CECE)‘s stock had its “hold” rating reiterated by stock analysts at Jefferies Group in a research note issued on Friday. They currently have a $11.00 target price on the stock. Jefferies Group’s price target suggests a potential downside of 14.86% from the company’s previous close.
The analysts wrote, “3Q16 margin increased on organic sales of -10% and organic bookings of ~-5% y/y, ex-PMFG. The stock’s recent performance on a possible increase in infrastructure spending bodes well for its natgas power and midstream pipeline (35% of rev) business and coal build (~8%), but visibility remains low as of now. Also, not implementing tighter regulations would be a negative for its products.””
A number of other equities analysts have also commented on CECE. Needham & Company LLC lifted their price target on shares of CECO Environmental Corp. from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Zacks Investment Research raised shares of CECO Environmental Corp. from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Monday, September 19th. TheStreet raised shares of CECO Environmental Corp. from a “hold” rating to a “buy” rating in a research report on Friday, November 11th. Finally, Seaport Global Securities lowered shares of CECO Environmental Corp. from a “buy” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research report on Thursday, November 17th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. CECO Environmental Corp. has an average rating of “Buy” and an average target price of $12.00.
Shares of CECO Environmental Corp. (NASDAQ:CECE) opened at 12.92 on Friday. The firm has a market cap of $439.41 million, a PE ratio of 44.40 and a beta of 1.58. CECO Environmental Corp. has a 12-month low of $5.60 and a 12-month high of $13.00. The company has a 50 day moving average of $10.81 and a 200-day moving average of $9.77.
CECO Environmental Corp. (NASDAQ:CECE) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.03. CECO Environmental Corp. had a net margin of 2.35% and a return on equity of 11.22%. The company had revenue of $101.60 million for the quarter, compared to analyst estimates of $110.44 million. During the same quarter last year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities research analysts forecast that CECO Environmental Corp. will post $0.84 EPS for the current fiscal year.
The business 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 2.04%. The ex-dividend date is Wednesday, December 14th. CECO Environmental Corp.’s dividend payout ratio (DPR) is currently 89.66%.
A number of institutional investors have recently made changes to their positions in CECE. Foundry Partners LLC raised its position in shares of 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. raised 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 during the period. Manchester Capital Management LLC raised 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 during the period. Kirr Marbach & Co. LLC IN raised 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 during the period. Finally, Bank of Montreal Can bought a new position in shares of CECO Environmental Corp. during the second quarter worth about $106,000. 55.15% 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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