CECO Environmental (NASDAQ:CECO) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of CECO Environmental (NASDAQ:CECO) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $35.00 target price on the stock. HC Wainwright also issued estimates for CECO Environmental’s Q4 2024 earnings at $0.31 EPS, FY2024 earnings at $0.77 EPS, Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.24 EPS, Q3 2025 earnings at $0.32 EPS, Q4 2025 earnings at $0.64 EPS and FY2025 earnings at $1.33 EPS.

CECO has been the topic of a number of other reports. Needham & Company LLC boosted their price target on CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Roth Mkm boosted their price target on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum boosted their price target on CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Northland Securities boosted their price target on CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental presently has a consensus rating of “Buy” and a consensus price target of $34.40.

CECO Environmental Stock Down 1.4 %

CECO stock opened at $23.47 on Wednesday. CECO Environmental has a fifty-two week low of $15.65 and a fifty-two week high of $31.55. The business’s 50 day moving average price is $27.08 and its two-hundred day moving average price is $26.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.30. The company has a market capitalization of $820.98 million, a price-to-earnings ratio of 71.12, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm had revenue of $135.50 million for the quarter, compared to analysts’ expectations of $155.94 million. During the same quarter last year, the company posted $0.22 EPS. The firm’s revenue was down 9.3% on a year-over-year basis. As a group, analysts forecast that CECO Environmental will post 0.82 earnings per share for the current fiscal year.

Insider Activity at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman acquired 10,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were acquired at an average cost of $28.77 per share, with a total value of $287,700.00. Following the transaction, the director now owns 62,000 shares of the company’s stock, valued at $1,783,740. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 16.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CECO Environmental

A number of hedge funds have recently added to or reduced their stakes in CECO. Principal Financial Group Inc. purchased a new stake in CECO Environmental during the 1st quarter valued at $379,000. Precision Wealth Strategies LLC purchased a new stake in shares of CECO Environmental in the 1st quarter worth $255,000. BNP Paribas Financial Markets increased its stake in shares of CECO Environmental by 247.5% in the 1st quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock worth $1,025,000 after purchasing an additional 31,707 shares in the last quarter. Essex Investment Management Co. LLC increased its stake in shares of CECO Environmental by 1.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 205,982 shares of the company’s stock worth $4,742,000 after purchasing an additional 3,147 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of CECO Environmental in the 1st quarter worth $366,000. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

CECO Environmental Company Profile

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.