CECO Environmental Corp. (NASDAQ:CECO) Receives Consensus Rating of “Buy” from Brokerages

CECO Environmental Corp. (NASDAQ:CECO) has earned a consensus rating of “Buy” from the five brokerages that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have covered the stock in the last year is $27.40.

A number of research firms have weighed in on CECO. Needham & Company LLC increased their target price on CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of CECO Environmental in a research note on Wednesday, May 1st. Roth Mkm increased their target price on CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Northland Securities increased their target price on CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Finally, Craig Hallum raised their price target on CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st.

CECO Environmental Stock Up 1.2 %

Shares of CECO opened at $24.20 on Thursday. The company has a market cap of $845.45 million, a PE ratio of 69.14, a P/E/G ratio of 1.70 and a beta of 1.35. The business has a fifty day moving average of $24.06 and a 200 day moving average of $21.93. CECO Environmental has a 52-week low of $11.46 and a 52-week high of $26.80. The company has a quick ratio of 1.19, a current ratio of 1.38 and a debt-to-equity ratio of 0.53.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. The company had revenue of $126.30 million during the quarter, compared to the consensus estimate of $135.82 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. CECO Environmental’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. On average, sell-side analysts expect that CECO Environmental will post 0.94 EPS for the current year.

Insider Buying and Selling at CECO Environmental

In related news, Director Richard F. Wallman bought 4,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were bought at an average price of $24.50 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the director now directly owns 205,319 shares of the company’s stock, valued at $5,030,315.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other CECO Environmental news, Director Richard F. Wallman purchased 4,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was acquired at an average price of $24.50 per share, with a total value of $98,000.00. Following the completion of the acquisition, the director now owns 205,319 shares in the company, valued at $5,030,315.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard F. Wallman purchased 5,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost of $21.95 per share, with a total value of $109,750.00. Following the acquisition, the director now owns 191,853 shares of the company’s stock, valued at approximately $4,211,173.35. The disclosure for this purchase can be found here. 16.90% of the stock is owned by insiders.

Institutional Investors Weigh In On CECO Environmental

A number of institutional investors and hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC raised its position in CECO Environmental by 5.4% during the third quarter. Janney Montgomery Scott LLC now owns 64,456 shares of the company’s stock valued at $1,029,000 after acquiring an additional 3,300 shares in the last quarter. EAM Investors LLC purchased a new stake in shares of CECO Environmental in the third quarter valued at approximately $2,907,000. Millrace Asset Group Inc. increased its position in shares of CECO Environmental by 14.7% in the third quarter. Millrace Asset Group Inc. now owns 209,524 shares of the company’s stock valued at $3,346,000 after buying an additional 26,822 shares in the last quarter. Truvestments Capital LLC increased its position in shares of CECO Environmental by 21.4% in the third quarter. Truvestments Capital LLC now owns 19,701 shares of the company’s stock valued at $315,000 after buying an additional 3,467 shares in the last quarter. Finally, Manatuck Hill Partners LLC increased its position in shares of CECO Environmental by 13.3% in the third quarter. Manatuck Hill Partners LLC now owns 407,900 shares of the company’s stock valued at $6,514,000 after buying an additional 47,900 shares in the last quarter. Institutional investors and hedge funds 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.