After H.C. Wainwright and Needham 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 yesterday and set a price target of $8.50. The company’s shares closed last Wednesday at $7.59.
According to TipRanks.com, Sullivan is a 4-star analyst with an average return of 3.9% and a 47.7% success rate. Sullivan covers the Industrial Goods sector, focusing on stocks such as Natural Gas Services Group, BioHiTech Global, and Capstone Turbine.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ceco Environmental with a $8.83 average price target, implying a 15.0% upside from current levels. In a report issued on November 5, H.C. Wainwright also maintained a Buy rating on the stock with a $9.00 price target.
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Based on Ceco Environmental’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $77.43 million and GAAP net loss of $239K. In comparison, last year the company earned revenue of $85.27 million and had a net profit of $1.93 million.
Based on the recent corporate insider activity of 16 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 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. The Energy Solutions segment improves air quality and solves fluid handling needs with market engineered, and customized solutions for the power generation, oil and gas, and petrochemical industries. The Industrial Solutions segment serves the industrial pollution control market. The Fluid Handling Solutions segment provides pump and filtration solutions that maintain safe and clean operations in some of the most harsh and toxic environments. The company was founded by Phillip DeZwirek in 1966 and is headquartered in Dallas, TX.
