Maxim Group analyst Tate Sullivan maintained a Buy rating on Ceco Environmental (CECE) today and set a price target of $10. The company’s shares closed yesterday at $7.72.
Sullivan observed:
“We recommend buying shares of CECE after the company reported 1Q19 revenue, EBITDA, EPS and backlog above our forecasts.”
According to TipRanks.com, Sullivan is a 3-star analyst with an average return of 4.1% and a 69.8% success rate. Sullivan covers the Basic Materials sector, focusing on stocks such as Natural Gas Services Group, Emcor Group, and Tetra Tech.
Currently, the analyst consensus on Ceco Environmental is a Strong Buy with an average price target of $9.50.
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Based on Ceco Environmental’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $931K. In comparison, last year the company had a net profit of $5.76 million.
Based on the recent corporate insider activity of 21 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
CECO Environmental Corp. engages in the provision of engineering technology and solutions. It offers services in the field of environment, energy, fluid handling, and filtration. The firm operates through the following segments: Energy Solutions, Industrial Solutions, Fluid Handling Solutions, and Corporate and Other.
