CECO Environmental Corp. (NASDAQ:CECO) Receives $34.80 Consensus PT from Analysts

Shares of CECO Environmental Corp. (NASDAQ:CECO) have been assigned an average rating of “Buy” from the five ratings firms that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $34.80.

CECO has been the topic of a number of research reports. Roth Mkm raised their price objective on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Needham & Company LLC raised their price target on shares of CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Northland Securities upped their price objective on shares of CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Craig Hallum raised their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, HC Wainwright upped their price target on CECO Environmental from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st.

CECO Environmental Trading Down 14.3 %

NASDAQ CECO opened at $22.56 on Wednesday. CECO Environmental has a 1 year low of $15.57 and a 1 year high of $31.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.17. The company has a market capitalization of $788.16 million, a PE ratio of 64.46, a P/E/G ratio of 2.01 and a beta of 1.33. The company has a fifty day moving average of $27.32 and a 200 day moving average of $26.49.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.08). The business had revenue of $135.50 million for the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 earnings per share. Research analysts forecast that CECO Environmental will post 0.93 earnings per share for the current year.

Insiders Place Their Bets

In other CECO Environmental news, Director Richard F. Wallman purchased 10,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was acquired at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the completion of the purchase, the director now directly owns 62,000 shares in the company, valued at approximately $1,783,740. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On CECO Environmental

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Essex Investment Management Co. LLC increased its stake in shares of CECO Environmental by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 208,426 shares of the company’s stock worth $5,878,000 after buying an additional 562 shares during the period. CWM LLC grew its holdings in CECO Environmental by 45.3% during the 2nd quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after acquiring an additional 708 shares in the last quarter. Private Advisor Group LLC increased its position in shares of CECO Environmental by 5.8% in the 3rd quarter. Private Advisor Group LLC now owns 16,065 shares of the company’s stock valued at $453,000 after purchasing an additional 885 shares during the last quarter. Kessler Investment Group LLC raised its holdings in shares of CECO Environmental by 27.8% in the 2nd quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock valued at $207,000 after purchasing an additional 1,560 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of CECO Environmental by 14.8% during the 2nd quarter. Principal Financial Group Inc. now owns 18,916 shares of the company’s stock worth $546,000 after purchasing an additional 2,439 shares during the last quarter. Hedge funds and other institutional investors own 68.08% of the company’s stock.

About CECO Environmental

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.