CECO Environmental (NASDAQ:CECO) Rating Lowered to Neutral at HC Wainwright

CECO Environmental (NASDAQ:CECO) was downgraded by stock analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a research note issued on Friday, MarketBeat Ratings reports.

CECO has been the subject of several other reports. Needham & Company LLC reduced their target price on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Craig Hallum upped their price objective on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Northland Securities raised their target price on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

CECO Environmental Trading Down 7.9 %

NASDAQ CECO opened at $29.60 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $30.71 and a 200 day simple moving average of $28.62. CECO Environmental has a 12 month low of $18.50 and a 12 month high of $35.16. The firm has a market capitalization of $1.04 billion, a P/E ratio of 89.70, a PEG ratio of 1.68 and a beta of 1.43.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, October 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05). CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The firm had revenue of $135.50 million during the quarter, compared to analysts’ expectations of $155.94 million. During the same quarter in the prior year, the company earned $0.22 EPS. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, analysts predict that CECO Environmental will post 0.79 EPS for the current fiscal year.

Institutional Trading of CECO Environmental

A number of large investors have recently bought and sold shares of CECO. Essex Investment Management Co. LLC lifted its position in shares of CECO Environmental by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 208,426 shares of the company’s stock valued at $5,878,000 after buying an additional 562 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in CECO Environmental by 71.6% during the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after purchasing an additional 591 shares during the last quarter. Private Advisor Group LLC boosted its position in CECO Environmental by 5.8% during the third quarter. Private Advisor Group LLC now owns 16,065 shares of the company’s stock worth $453,000 after purchasing an additional 885 shares during the period. Quest Partners LLC purchased a new position in shares of CECO Environmental in the third quarter worth about $69,000. Finally, Morse Asset Management Inc bought a new stake in shares of CECO Environmental in the third quarter valued at approximately $76,000. 68.08% of the stock is 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.