CECO Environmental Corp. (NASDAQ:CECO) Given Average Recommendation of “Buy” by Brokerages

Shares of CECO Environmental Corp. (NASDAQ:CECO) have been assigned a consensus rating of “Buy” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $34.80.

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

CECO Environmental Price Performance

Shares of NASDAQ CECO opened at $26.18 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average price is $27.51 and its two-hundred day moving average price is $26.39. The company has a market cap of $914.62 million, a PE ratio of 74.80, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. CECO Environmental has a twelve month low of $15.27 and a twelve month high of $31.55.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The company had revenue of $137.50 million during the quarter, compared to analysts’ expectations of $143.33 million. During the same period last year, the firm posted $0.15 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. On average, analysts predict that CECO Environmental will post 0.93 EPS for the current year.

Insider Buying and Selling

In related news, Director Richard F. Wallman acquired 10,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was purchased at an average cost of $28.77 per share, with a total value of $287,700.00. Following the acquisition, the director now directly owns 62,000 shares of the company’s stock, valued at approximately $1,783,740. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CECO Environmental

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CECO. CWM LLC raised its holdings in CECO Environmental by 45.3% in the 2nd quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after acquiring an additional 708 shares in the last quarter. EntryPoint Capital LLC acquired a new position in CECO Environmental in the 1st quarter valued at $72,000. Eastern Bank acquired a new position in CECO Environmental in the 3rd quarter valued at $113,000. SG Americas Securities LLC acquired a new position in CECO Environmental in the 2nd quarter valued at $201,000. Finally, Kessler Investment Group LLC raised its holdings in 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 acquiring an additional 1,560 shares in the last quarter. 68.08% of the stock is owned by institutional investors and hedge funds.

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.