CECO Environmental Corp. (CECE) Sees Strong Trading Volume
Shares of CECO Environmental Corp. (NASDAQ:CECE) saw strong trading volume on Thursday . 142,085 shares were traded during mid-day 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.
Several research analysts have weighed in on the stock. Canaccord Genuity reissued a “buy” rating and issued a $12.00 price target on shares of CECO Environmental Corp. in a report on Friday, May 13th. Needham & Company LLC increased 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. Zacks Investment Research raised shares of CECO Environmental Corp. from a “sell” rating to a “hold” rating in a report on Thursday, May 12th. Finally, Seaport Global Securities raised shares of CECO Environmental Corp. from a “speculative buy” rating to a “buy” rating in a report on Wednesday, May 11th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $10.61.
The stock has a 50 day moving average of $9.47 and a 200-day moving average of $7.67. The stock’s market cap is $373.57 million.
CECO Environmental Corp. (NASDAQ:CECE) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm had revenue of $112.30 million for the quarter, compared to analysts’ expectations 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 last year, the firm posted $0.32 earnings per share. Equities research analysts forecast that CECO Environmental Corp. will post $0.80 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a dividend of $0.066 per share. This represents a $0.26 annualized dividend and a yield of 2.40%. The ex-dividend date is Wednesday, September 14th.
A hedge fund recently raised its stake in CECO Environmental Corp. stock. Dimensional Fund Advisors LP boosted its stake in CECO Environmental Corp. (NASDAQ:CECE) by 9.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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 reporting period.
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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