CECO Environmental Corp. (CECE) Sees Strong Trading Volume
CECO Environmental Corp. (NASDAQ:CECE) shares saw unusually-strong trading volume on Thursday . Approximately 142,085 shares were traded during trading, a decline of 3% from the previous session’s volume of 146,449 shares.The stock last traded at $10.98 and had previously closed at $11.00.
A number of analysts recently issued reports on CECE shares. Zacks Investment Research upgraded shares of CECO Environmental Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, May 12th. Canaccord Genuity restated a “buy” rating and set a $12.00 target price on shares of CECO Environmental Corp. in a research report on Friday, May 13th. Seaport Global Securities upgraded shares of CECO Environmental Corp. from a “speculative buy” rating to a “buy” rating in a research report on Wednesday, May 11th. Finally, 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 report on Wednesday, August 10th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $10.61.
The company’s 50-day moving average price is $9.40 and its 200 day moving average price is $7.64. The firm’s market cap is $373.57 million.
CECO Environmental Corp. (NASDAQ:CECE) last released its earnings results on Tuesday, August 9th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The business earned $112.30 million during the quarter, compared to the consensus estimate of $107.03 million. The firm’s revenue for the quarter was up 29.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, analysts forecast that CECO Environmental Corp. will post $0.80 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a $0.066 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.40%.
An institutional investor recently raised its position in CECO Environmental Corp. stock. Dimensional Fund Advisors LP raised its position in CECO Environmental Corp. (NASDAQ:CECE) by 9.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 910,511 shares of the company’s stock after buying an additional 79,823 shares during the period. Dimensional Fund Advisors LP owned about 2.69% of CECO Environmental Corp. worth $6,993,000 at the end of the most recent quarter.
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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