CECO Environmental Corp. (NASDAQ:CECO) Stock Rated “Moderate Buy” by Sell-Side Brokerages

CECO Environmental Corp. (NASDAQ:CECO) has been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $104.88.

CECO has been the topic of a number of analyst reports. Zacks Research downgraded shares of CECO Environmental from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. assumed coverage on shares of CECO Environmental in a report on Thursday, July 9th. They set an “overweight” rating and a $130.00 price target for the company. Weiss Ratings lowered shares of CECO Environmental from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, September 16th. Lake Street Capital lifted their price objective on shares of CECO Environmental from $80.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Finally, TD Cowen began coverage on shares of CECO Environmental in a research report on Wednesday, August 5th. They set a “buy” rating and a $85.00 price objective for the company.

CECO Environmental Price Performance

CECO Environmental stock opened at $74.96 on Tuesday. The firm has a market cap of $4.39 billion, a PE ratio of -108.64 and a beta of 1.50. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.50 and a quick ratio of 1.18. The stock’s fifty day moving average price is $72.21 and its two-hundred day moving average price is $75.56. CECO Environmental has a one year low of $42.82 and a one year high of $101.24.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Monday, August 10th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.21. The company had revenue of $284.96 million for the quarter, compared to analyst estimates of $282.21 million. CECO Environmental had a positive return on equity of 7.36% and a negative net margin of 3.39%.CECO Environmental’s quarterly revenue was up 53.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. As a group, research analysts expect that CECO Environmental will post 2.43 EPS for the current fiscal year.

Hedge Funds Weigh In On CECO Environmental

Institutional investors have recently modified their holdings of the business. Morton Brown Family Wealth LLC bought a new position in CECO Environmental in the first quarter valued at about $29,000. Allworth Financial LP acquired a new stake in shares of CECO Environmental in the 2nd quarter valued at approximately $29,000. GAMMA Investing LLC boosted its stake in shares of CECO Environmental by 71.6% in the 2nd quarter. GAMMA Investing LLC now owns 369 shares of the company’s stock valued at $33,000 after purchasing an additional 154 shares in the last quarter. KBC Group NV bought a new stake in shares of CECO Environmental during the 1st quarter valued at approximately $44,000. Finally, Strs Ohio bought a new stake in shares of CECO Environmental during the 1st quarter valued at approximately $66,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

About CECO Environmental

CECO Environmental Corp. (NASDAQ: CECO) is an environmental technology company that provides engineered solutions for industrial air quality, fluid handling, and water and wastewater treatment. Its systems are designed to help customers control emissions, improve process efficiency, protect workers, and comply with environmental regulations.

The company offers products and services including air pollution control equipment, industrial ventilation systems, filtration and separation technologies, thermal processing solutions, pumps and other fluid-handling equipment, and water and wastewater treatment systems.