CECO Environmental Corp. (NASDAQ:CECE) – Investment analysts at Jefferies Group decreased their FY2018 EPS estimates for CECO Environmental Corp. in a research note issued to investors on Tuesday. Jefferies Group analyst B. Bohra now forecasts that the industrial products company will earn $0.91 per share for the year, down from their prior estimate of $1.04. Jefferies Group has a “Hold” rating and a $11.00 price target on the stock.
Several other brokerages have also recently weighed in on CECE. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective on shares of CECO Environmental Corp. in a research note on Thursday, February 16th. TheStreet cut shares of CECO Environmental Corp. from a “b-” rating to a “c-” rating in a research note on Thursday, March 9th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. CECO Environmental Corp. has an average rating of “Hold” and an average price target of $13.25.
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Shares of CECO Environmental Corp. (NASDAQ:CECE) traded up 1.70% during mid-day trading on Friday, hitting $9.55. 57,968 shares of the stock traded hands. The company’s 50-day moving average price is $10.71 and its 200 day moving average price is $12.00. CECO Environmental Corp. has a 1-year low of $7.68 and a 1-year high of $14.88. The company’s market capitalization is $329.10 million.
CECO Environmental Corp. (NASDAQ:CECE) last announced its earnings results on Wednesday, May 10th. The industrial products company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The company had revenue of $92.70 million during the quarter, compared to the consensus estimate of $97.10 million. CECO Environmental Corp. had a net margin of 2.35% and a return on equity of 11.22%. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 earnings per share.
In other CECO Environmental Corp. news, CEO Dennis Sadlowski acquired 4,000 shares of the company’s stock in a transaction on Friday, March 10th. The stock was acquired at an average price of $10.46 per share, for a total transaction of $41,840.00. Following the purchase, the chief executive officer now directly owns 12,828 shares of the company’s stock, valued at $134,180.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 6,000 shares of company stock valued at $62,430 in the last quarter. Corporate insiders own 15.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. AlphaOne Investment Services LLC boosted its stake in shares of CECO Environmental Corp. by 5.8% in the fourth quarter. AlphaOne Investment Services LLC now owns 376,410 shares of the industrial products company’s stock valued at $5,252,000 after buying an additional 20,700 shares during the period. Renaissance Technologies LLC boosted its stake in shares of CECO Environmental Corp. by 68.3% in the fourth quarter. Renaissance Technologies LLC now owns 290,183 shares of the industrial products company’s stock valued at $4,048,000 after buying an additional 117,800 shares during the period. Systematic Financial Management LP acquired a new stake in shares of CECO Environmental Corp. during the fourth quarter valued at $4,096,000. GFI Investment Counsel Ltd. acquired a new stake in shares of CECO Environmental Corp. during the fourth quarter valued at $10,602,000. Finally, FMR LLC boosted its stake in shares of CECO Environmental Corp. by 5.4% in the fourth quarter. FMR LLC now owns 1,080,200 shares of the industrial products company’s stock valued at $15,069,000 after buying an additional 55,000 shares during the period. Institutional investors and hedge funds own 58.06% of the company’s stock.
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.
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