CECO Environmental (NASDAQ:CECO) Stock Price Expected to Rise, Craig Hallum Analyst Says

CECO Environmental (NASDAQ:CECO) had its target price upped by research analysts at Craig Hallum from $34.00 to $40.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price objective would indicate a potential upside of 24.38% from the company’s current price.

Several other research firms have also recently weighed in on CECO. Needham & Company LLC lowered their price target on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. HC Wainwright reiterated 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 boosted their price target on 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 MarketBeat, CECO Environmental has a consensus rating of “Buy” and an average target price of $36.20.

CECO Environmental Stock Performance

CECO opened at $32.16 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 stock has a market cap of $1.12 billion, a price-to-earnings ratio of 97.46, a PEG ratio of 2.92 and a beta of 1.43. CECO Environmental has a 12-month low of $18.50 and a 12-month high of $35.16. The business has a 50 day moving average of $29.56 and a 200-day moving average of $28.40.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The company had revenue of $135.50 million for the quarter, compared to the consensus estimate of $155.94 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period last year, the firm earned $0.22 earnings per share. On average, equities research analysts expect that CECO Environmental will post 0.79 earnings per share for the current year.

Institutional Investors Weigh In On CECO Environmental

A number of hedge funds and other institutional investors have recently made changes to their positions in CECO. First Horizon Advisors Inc. increased its stake in CECO Environmental by 71.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after acquiring an additional 591 shares during the period. Quest Partners LLC acquired a new stake in shares of CECO Environmental during the 3rd quarter worth $69,000. Morse Asset Management Inc bought a new position in shares of CECO Environmental in the third quarter worth $76,000. Eastern Bank acquired a new position in CECO Environmental in the third quarter valued at about $113,000. Finally, Arizona State Retirement System acquired a new position in CECO Environmental in the second quarter valued at about $239,000. 68.08% of the stock is currently 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.