CECO Environmental (NASDAQ:CECO) Price Target Raised to $40.00 at Craig Hallum

CECO Environmental (NASDAQ:CECO) had its price target boosted by Craig Hallum from $34.00 to $40.00 in a research note released on Monday morning,Benzinga reports. Craig Hallum currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on CECO. Needham & Company LLC reduced their price target on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. HC Wainwright reissued a “buy” rating and set a $35.00 target price on shares of CECO Environmental in a research note on Wednesday, October 30th. Finally, Northland Securities raised their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $36.20.

CECO Environmental Price Performance

CECO opened at $32.82 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $29.37 and its 200 day moving average price is $28.35. CECO Environmental has a fifty-two week low of $18.50 and a fifty-two week high of $35.16. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 99.46, a price-to-earnings-growth ratio of 2.92 and a beta of 1.43.

CECO Environmental (NASDAQ:CECO) last announced its quarterly 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 company had revenue of $135.50 million for the quarter, compared to analyst estimates of $155.94 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, sell-side analysts expect that CECO Environmental will post 0.79 earnings per share for the current year.

Institutional Investors Weigh In On CECO Environmental

Several institutional investors have recently bought and sold shares of the stock. FMR LLC increased its stake in CECO Environmental by 23.5% during the 3rd quarter. FMR LLC now owns 786,308 shares of the company’s stock valued at $22,174,000 after buying an additional 149,777 shares during the period. Geode Capital Management LLC increased its stake in shares of CECO Environmental by 1.7% during the third quarter. Geode Capital Management LLC now owns 689,487 shares of the company’s stock valued at $19,448,000 after acquiring an additional 11,857 shares during the period. First Eagle Investment Management LLC raised its holdings in CECO Environmental by 10.9% during the second quarter. First Eagle Investment Management LLC now owns 657,764 shares of the company’s stock worth $18,976,000 after purchasing an additional 64,900 shares in the last quarter. Driehaus Capital Management LLC lifted its position in CECO Environmental by 37.4% in the second quarter. Driehaus Capital Management LLC now owns 586,249 shares of the company’s stock worth $16,913,000 after purchasing an additional 159,485 shares during the period. Finally, Robeco Schweiz AG boosted its stake in CECO Environmental by 375.2% during the 2nd quarter. Robeco Schweiz AG now owns 565,255 shares of the company’s stock valued at $16,308,000 after purchasing an additional 446,305 shares in the last quarter. Institutional investors and hedge funds own 68.08% of the company’s stock.

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.