CECO Environmental (NASDAQ:CECO) Lowered to “Neutral” Rating by HC Wainwright

CECO Environmental (NASDAQ:CECO) was downgraded by HC Wainwright from a “buy” rating to a “neutral” rating in a research note issued on Friday,Briefing.com Automated Import reports.

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

CECO Environmental Trading Down 10.3 %

Shares of CECO stock traded down $3.33 during mid-day trading on Friday, reaching $28.83. The company’s stock had a trading volume of 994,998 shares, compared to its average volume of 303,472. The company’s 50 day simple moving average is $30.62 and its 200-day simple moving average is $28.60. CECO Environmental has a 12-month low of $18.50 and a 12-month high of $35.16. 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 firm has a market capitalization of $1.01 billion, a PE ratio of 87.35, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC grew its position in CECO Environmental by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 208,426 shares of the company’s stock valued at $5,878,000 after purchasing an additional 562 shares in the last quarter. First Horizon Advisors Inc. grew its position 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 in the last quarter. Private Advisor Group LLC grew 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 valued at $453,000 after purchasing an additional 885 shares in the last quarter. Quest Partners LLC purchased a new position in CECO Environmental during the third quarter valued at approximately $69,000. Finally, Morse Asset Management Inc bought a new stake in CECO Environmental in the third quarter worth approximately $76,000. 68.08% of the stock is owned by hedge funds and other institutional investors.

About CECO Environmental

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.