CECO Environmental Corp. (CECE) is Reiterated by Needham to Buy, Raises Price Target to $ 13

CECO Environmental Corp. (CECE) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 13 from a previous price target of $10 . Needham advised their investors in a research report released on Aug 10, 2016.

On the company’s financial health, CECO Environmental Corp. reported $0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.18. The company had revenue of $112.30 million for the quarter, compared to analysts expectations of $107.03 million. The company’s revenue was up 29.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

CECO Environmental Corp. closed down -0.01 points or -0.11% at $9.29 with 96,565 shares getting traded on Monday. Post opening the session at $9.3, the shares hit an intraday low of $9.16 and an intraday high of $9.41 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on May 18, 2016, Seth Rudin (director) purchased 700 shares at $7.59 per share price. According to the SEC, on Jan 6, 2016, Claudio A Mannarino (director) purchased 3,000 shares at $7.11 per share price. On Dec 15, 2015, Jeffrey Lang (CEO) purchased 13,000 shares at $7.20 per share price, according to the Form-4 filing with the securities and exchange commission.

CECO Environmental Corp. is an environmental technology company focused on solutions in the product recovery air pollution control fluid handling and filtration industries. The Company is focused 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 as well as fluid handling and filtration systems. It provides a spectrum of products and services including dampers and diverters cyclonic technology thermal oxidizers filtration systems scrubbers fluid handling equipment and plant engineering services and other. It operates through three segments: Air Pollution Control segment which offers product recovery and air pollution control technologies Energy segment which offers solutions for the power and petrochemical industry and Fluid Handling and Filtration Segment which offers pump filtration and fume exhaust solutions.

CECO Environmental Corp.

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