CECO Environmental Corp. (NASDAQ:CECO) Receives $34.80 Average PT from Analysts

CECO Environmental Corp. (NASDAQ:CECO) has earned an average recommendation of “Buy” from the five analysts that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $34.80.

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

CECO Environmental Stock Performance

Shares of CECO stock opened at $26.77 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $27.43 and a two-hundred day simple moving average of $26.48. CECO Environmental has a 12 month low of $15.57 and a 12 month high of $31.55. The firm has a market capitalization of $935.24 million, a PE ratio of 76.49, a price-to-earnings-growth ratio of 2.01 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 the consensus estimate of $0.16 by $0.04. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The company had revenue of $137.50 million during the quarter, compared to the consensus estimate of $143.33 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts forecast that CECO Environmental will post 0.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other CECO Environmental news, Director Richard F. Wallman acquired 10,000 shares of CECO Environmental stock in a transaction on Friday, August 30th. The stock was purchased at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the purchase, the director now directly owns 62,000 shares of the company’s stock, valued at $1,783,740. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On CECO Environmental

A number of hedge funds and other institutional investors have recently made changes to their positions in CECO. Hood River Capital Management LLC bought a new stake in CECO Environmental in the second quarter worth about $15,495,000. Robeco Schweiz AG grew its holdings in CECO Environmental by 375.2% during the second 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 during the period. Thrivent Financial for Lutherans purchased a new stake in CECO Environmental in the second quarter worth $11,857,000. Allspring Global Investments Holdings LLC raised its stake in shares of CECO Environmental by 651,526.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 293,232 shares of the company’s stock valued at $8,460,000 after buying an additional 293,187 shares during the period. Finally, Driehaus Capital Management LLC lifted its position in shares of CECO Environmental by 37.4% during the 2nd 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 during the last quarter. 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.