After B.Riley FBR and H.C. Wainwright gave Ceco Environmental (NASDAQ: CECE) a Buy rating last month, the company received another Buy, this time from Maxim Group. Analyst Tate Sullivan maintained a Buy rating on Ceco Environmental today and set a price target of $10. The company’s shares opened today at $7.15.
Sullivan said:
“We maintain our annual GAAP EPS estimates after CECE reported yesterday 4Q18 revenue of $94 million, above our $92 million forecast and the $90 million consensus.”
According to TipRanks.com, Sullivan is a 3-star analyst with an average return of 5.4% and a 56.8% success rate. Sullivan covers the Basic Materials sector, focusing on stocks such as Natural Gas Services Group, Emcor Group, and Tetra Tech.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ceco Environmental with a $9.50 average price target, implying a 32.9% upside from current levels. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $9 price target.
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The company has a one-year high of $9.18 and a one-year low of $4.05. Currently, Ceco Environmental has an average volume of 80.99K.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CECE in relation to earlier this year.
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CECO Environmental Corp. engages in the provision of engineering technology. It provides services in the field of environment, energy, fluid handling, and filtration. The company operates through the following segments: Environmental, Energy, and Fluid Handling & Filtration.
