CECO Environmental Corp. (NASDAQ:CECO) Receives Average Recommendation of “Buy” from Brokerages

Shares of CECO Environmental Corp. (NASDAQ:CECO) have been assigned an average recommendation of “Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $34.80.

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

CECO Environmental Trading Down 2.1 %

NASDAQ CECO opened at $24.78 on Tuesday. The firm’s fifty day moving average price is $28.25 and its 200 day moving average price is $25.19. CECO Environmental has a 12 month low of $13.29 and a 12 month high of $31.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.17. The company has a market capitalization of $865.71 million, a price-to-earnings ratio of 70.80, a price-to-earnings-growth ratio of 2.08 and a beta of 1.33.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The business had revenue of $137.50 million for the quarter, compared to analysts’ expectations of $143.33 million. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 earnings per share. On average, sell-side analysts expect that CECO Environmental will post 0.93 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard F. Wallman purchased 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the acquisition, the director now directly owns 62,000 shares of the company’s stock, valued at approximately $1,783,740. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 16.90% of the company’s stock.

Institutional Trading of CECO Environmental

A number of institutional investors have recently modified their holdings of the business. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of CECO Environmental during the 2nd quarter worth $403,000. Algert Global LLC grew its position in CECO Environmental by 4.9% during the second quarter. Algert Global LLC now owns 121,610 shares of the company’s stock worth $3,508,000 after buying an additional 5,672 shares during the period. Driehaus Capital Management LLC increased its holdings in CECO Environmental by 37.4% in the second quarter. Driehaus Capital Management LLC now owns 586,249 shares of the company’s stock valued at $16,913,000 after buying an additional 159,485 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of CECO Environmental by 95.6% during the 2nd quarter. AQR Capital Management LLC now owns 124,672 shares of the company’s stock valued at $3,597,000 after acquiring an additional 60,925 shares during the period. Finally, Hood River Capital Management LLC acquired a new position in CECO Environmental during the second quarter worth $15,495,000. 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.