CECO Environmental Corp. (NASDAQ:CECE) saw a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 1,187,966 shares, a drop of 26.6% from the May 15th total of 1,618,994 shares. Based on an average daily volume of 139,722 shares, the days-to-cover ratio is currently 8.5 days. Approximately 4.0% of the company’s shares are short sold.
Several equities analysts have recently weighed in on the stock. TheStreet raised shares of CECO Environmental from a “d” rating to a “c-” rating in a research report on Wednesday, June 6th. Zacks Investment Research cut shares of CECO Environmental from a “hold” rating to a “strong sell” rating in a research report on Monday, March 12th. ValuEngine cut shares of CECO Environmental from a “buy” rating to a “hold” rating in a research report on Saturday, March 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price objective on shares of CECO Environmental in a research report on Friday, March 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $7.00.
In other news, Director Jonathan Pollack purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 4th. The shares were acquired at an average cost of $5.86 per share, for a total transaction of $29,300.00. Following the transaction, the director now directly owns 26,146 shares of the company’s stock, valued at approximately $153,215.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.44% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of CECO Environmental by 5.1% during the first quarter. JPMorgan Chase & Co. now owns 233,721 shares of the industrial products company’s stock worth $1,040,000 after purchasing an additional 11,420 shares during the last quarter. Shepherd Kaplan Krochuk LLC boosted its holdings in CECO Environmental by 103.6% in the first quarter. Shepherd Kaplan Krochuk LLC now owns 28,500 shares of the industrial products company’s stock valued at $127,000 after acquiring an additional 14,500 shares during the last quarter. Van ECK Associates Corp boosted its holdings in CECO Environmental by 31.3% in the first quarter. Van ECK Associates Corp now owns 90,495 shares of the industrial products company’s stock valued at $403,000 after acquiring an additional 21,547 shares during the last quarter. California Public Employees Retirement System boosted its holdings in CECO Environmental by 26.2% in the first quarter. California Public Employees Retirement System now owns 105,855 shares of the industrial products company’s stock valued at $471,000 after acquiring an additional 21,950 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in CECO Environmental by 3.6% in the first quarter. LSV Asset Management now owns 658,015 shares of the industrial products company’s stock valued at $2,928,000 after acquiring an additional 22,700 shares during the last quarter. Institutional investors own 66.92% of the company’s stock.
CECO Environmental opened at $6.08 on Monday, Marketbeat reports. The stock has a market capitalization of $211.23 million, a P/E ratio of 22.52, a P/E/G ratio of 1.50 and a beta of 0.98. CECO Environmental has a 52 week low of $4.00 and a 52 week high of $10.69. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.71 and a quick ratio of 1.50.
CECO Environmental (NASDAQ:CECE) last issued its earnings results on Thursday, May 10th. The industrial products company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.08. The firm had revenue of $74.14 million during the quarter, compared to the consensus estimate of $77.00 million. CECO Environmental had a return on equity of 2.10% and a net margin of 0.83%. sell-side analysts predict that CECO Environmental will post 0.27 earnings per share for the current fiscal year.
CECO Environmental Company Profile
CECO Environmental Corp. provides critical solutions to the environmental, energy, and fluid handling and filtration industries worldwide. The company operates through three segments: Energy, Environmental, and Fluid Handling and Filtration. The Energy segment offers gas turbine exhaust systems, dampers and diverters, gas and liquid separation and filtration equipment, selective catalytic reduction and selective non-catalytic reduction systems, acoustical components and silencers, secondary separators, and expansion joints for the power and petrochemical industries.
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