Analysts’ Opinions Are Mixed on These Conglomerates Stocks: Ceco Environmental (NASDAQ: CECE), Caterpillar (NYSE: CAT) and Ametek Inc (NYSE: AME)

By Ryan Adsit

Analysts have been eager to weigh in on the Conglomerates sector with new ratings on Ceco Environmental (NASDAQ: CECE), Caterpillar (NYSE: CAT) and Ametek Inc (NYSE: AME).

Ceco Environmental (NASDAQ: CECE)

Jefferies analyst Bhupender Bohra reiterated a Hold rating on Ceco Environmental (NASDAQ: CECE) today and set a price target of $11. The company’s shares opened today at $12.78, close to its 52-week high of $13.

Bohra commented:

“3Q16 margin increased on organic sales of -10% and organic bookings of ~-5% y/y, ex-PMFG. The stock’s recent performance on a possible increase in infrastructure spending bodes well for its natgas power and midstream pipeline (35% of rev) business and coal build (~8%), but visibility remains low as of now. Also, not implementing tighter regulations would be a negative for its products.”

According to TipRanks.com, Bohra is a 4-star analyst with an average return of 29.8% and a 78.6% success rate. Bohra covers the Industrial Goods sector, focusing on stocks such as Thermon Group Holdings Inc., Barnes Group Inc, and Flowserve Corp.

Currently, the analyst consensus on Ceco Environmental is Moderate Buy and the average price target is $12.33, representing a -3.5% downside.

In a report released yesterday, Seaport Global also downgraded the stock to Hold with a $13 price target.
Caterpillar (NYSE: CAT)

In a report released today, Jamie Cook from Credit Suisse reiterated a Buy rating on Caterpillar (NYSE: CAT), with a price target of $101. The company’s shares opened today at $93.01, close to its 52-week high of $95.50.

According to TipRanks.com, Cook is a 3-star analyst with an average return of 1.3% and a 56.6% success rate. Cook covers the Industrial Goods sector, focusing on stocks such as Illinois Tool Works, Manitowoc Company, and Parker Hannifin.

Caterpillar has an analyst consensus of Hold, with a price target consensus of $91.33.

Ametek Inc (NYSE: AME)

BMO Capital analyst Scott Graham reiterated a Buy rating on Ametek Inc (NYSE: AME) yesterday and set a price target of $54. The company’s shares opened today at $48.09.

According to TipRanks.com, Graham is a 4-star analyst with an average return of 3.4% and a 57.5% success rate. Graham covers the Industrial Goods sector, focusing on stocks such as Thermon Group Holdings Inc., Gorman-Rupp Company, and Barnes Group Inc.

Currently, the analyst consensus on Ametek Inc is Strong Buy and the average price target is $52, representing an 8.1% upside.

In a report issued on November 2, Stifel Nicolaus also reiterated a Buy rating on the stock with a $50 price target.