CECO Environmental’s (CECO) Buy Rating Reaffirmed at Needham & Company LLC

CECO Environmental (NASDAQ:CECO)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They presently have a $33.00 price target on the stock. Needham & Company LLC’s target price would suggest a potential upside of 34.64% from the stock’s current price.

Other research analysts have also issued research reports about the company. Northland Securities lifted their target price on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Craig Hallum upped their target price 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. Finally, HC Wainwright reiterated a “neutral” rating on shares of CECO Environmental in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.20.

CECO Environmental Trading Up 8.2 %

Shares of CECO stock opened at $24.51 on Wednesday. The firm has a market cap of $857.34 million, a P/E ratio of 74.27, a PEG ratio of 1.39 and a beta of 1.41. The company has a 50 day moving average of $28.69 and a 200-day moving average of $28.29. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. CECO Environmental has a 12-month low of $18.50 and a 12-month high of $35.16.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. The firm had revenue of $158.60 million during the quarter, compared to the consensus estimate of $156.09 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. Sell-side analysts anticipate that CECO Environmental will post 0.67 earnings per share for the current year.

Institutional Trading of CECO Environmental

Hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC raised 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. Van ECK Associates Corp increased its position in shares of CECO Environmental by 466.4% during the 3rd quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock valued at $10,082,000 after purchasing an additional 312,803 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of CECO Environmental by 17.6% during the 3rd quarter. Principal Financial Group Inc. now owns 22,246 shares of the company’s stock valued at $627,000 after buying an additional 3,330 shares in the last quarter. Quest Partners LLC purchased a new position in shares of CECO Environmental during the 3rd quarter valued at about $69,000. Finally, First Horizon Advisors Inc. lifted its position in CECO Environmental by 71.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after buying an additional 591 shares during the last quarter. 68.08% of the stock is owned by 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.