The Brokerages Set CECO Environmental Corp. (NASDAQ:CECE) Price Target at $11.08

The Brokerages Set CECO Environmental Corp. (NASDAQ:CECE) Price Target at $11.08

CECO Environmental Corp. (NASDAQ:CECE) has received a consensus rating of “Buy” from the eight ratings firms that are currently covering the stock. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $11.08.

Several equities analysts recently weighed in on CECE shares. 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. Needham & Company LLC increased their price objective on shares of CECO Environmental Corp. from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th.

Large investors have recently modified their holdings of the company. Rutabaga Capital Management LLC MA raised its stake in shares of CECO Environmental Corp. by 677.7% in the second quarter. Rutabaga Capital Management LLC MA now owns 500,106 shares of the company’s stock valued at $4,371,000 after buying an additional 435,797 shares during the last quarter. King Luther Capital Management Corp raised its stake in shares of CECO Environmental Corp. by 23.3% in the second quarter. King Luther Capital Management Corp now owns 1,423,489 shares of the company’s stock valued at $12,441,000 after buying an additional 269,300 shares during the last quarter. Punch & Associates Investment Management Inc. raised its stake 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 valued at $7,470,000 after buying an additional 98,754 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of CECO Environmental Corp. during the second quarter valued at about $726,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of CECO Environmental Corp. by 151.6% in the second quarter. Janney Montgomery Scott LLC now owns 129,138 shares of the company’s stock valued at $1,128,000 after buying an additional 77,819 shares during the last quarter. Institutional investors own 53.82% of the company’s stock.

Shares of CECO Environmental Corp. (NASDAQ:CECE) opened at 10.77 on Wednesday. The company has a 50 day moving average price of $11.01 and a 200 day moving average price of $8.75. CECO Environmental Corp. has a 52 week low of $5.60 and a 52 week high of $11.75. The company’s market capitalization is $365.76 million.

CECO Environmental Corp. (NASDAQ:CECE) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. CECO Environmental Corp. had a negative net margin of 0.18% and a positive return on equity of 11.06%. The business had revenue of $112.30 million for the quarter, compared to analysts’ expectations of $107.03 million. During the same quarter last year, the firm earned $0.32 EPS. The firm’s revenue for the quarter was up 29.1% compared to the same quarter last year. On average, equities research analysts expect that CECO Environmental Corp. will post $0.80 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a dividend of $0.066 per share. The ex-dividend date was Wednesday, September 14th. This represents a $0.26 annualized dividend and a dividend yield of 2.45%. CECO Environmental Corp.’s payout ratio is currently -520.00%.

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