CECO Environmental Corp. (CECE) Downgraded by BidaskClub

BidaskClub lowered shares of CECO Environmental Corp. (NASDAQ:CECE) from a hold rating to a sell rating in a report released on Wednesday, July 19th.

Other analysts have also issued research reports about the stock. Needham & Company LLC upgraded shares of CECO Environmental Corp. from a buy rating to a strong-buy rating and boosted their target price for the company from $9.51 to $13.00 in a research note on Thursday, July 6th. Zacks Investment Research upgraded shares of CECO Environmental Corp. from a sell rating to a hold rating in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company. CECO Environmental Corp. currently has an average rating of Hold and an average price target of $13.25.

Shares of CECO Environmental Corp. (CECE) remained flat at $9.73 during trading on Wednesday. The company had a trading volume of 43,463 shares. The firm has a 50 day moving average price of $9.63 and a 200 day moving average price of $10.78. The firm’s market cap is $335.31 million. CECO Environmental Corp. has a 52 week low of $8.93 and a 52 week high of $14.88.

CECO Environmental Corp. (NASDAQ:CECE) last issued its quarterly earnings results on Wednesday, May 10th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $92.70 million during the quarter, compared to analyst estimates of $97.10 million. CECO Environmental Corp. had a negative net margin of 10.15% and a positive return on equity of 15.78%. The business’s revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 earnings per share. On average, equities analysts predict that CECO Environmental Corp. will post $0.83 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Wednesday, June 14th. CECO Environmental Corp.’s payout ratio is -25.00%.

Large investors have recently modified their holdings of the stock. King Luther Capital Management Corp increased its position in shares of CECO Environmental Corp. by 16.4% in the first quarter. King Luther Capital Management Corp now owns 1,735,629 shares of the industrial products company’s stock valued at $18,241,000 after buying an additional 244,640 shares during the period. Trigran Investments Inc. increased its position in shares of CECO Environmental Corp. by 17.5% in the first quarter. Trigran Investments Inc. now owns 1,652,650 shares of the industrial products company’s stock valued at $17,369,000 after buying an additional 246,112 shares during the period. Dimensional Fund Advisors LP increased its stake in CECO Environmental Corp. by 20.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,649,009 shares of the industrial products company’s stock valued at $17,331,000 after buying an additional 279,323 shares during the last quarter. Vanguard Group Inc. increased its stake in CECO Environmental Corp. by 13.9% in the first quarter. Vanguard Group Inc. now owns 1,203,960 shares of the industrial products company’s stock valued at $12,654,000 after buying an additional 146,895 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in CECO Environmental Corp. by 62.0% in the first quarter. JPMorgan Chase & Co. now owns 1,197,736 shares of the industrial products company’s stock valued at $12,589,000 after buying an additional 458,315 shares during the last quarter. 68.76% of the stock is owned by institutional investors.

CECO Environmental Corp. Company Profile

CECO Environmental Corp. is a provider of engineered technologies to the environmental, energy, and fluid handling and filtration industrial segments. The Company is focused 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.