CECO Environmental (NASDAQ:CECO) Shares Climb 5.4% on Analyst Upgrade

CECO Environmental Corp. (NASDAQ:CECO) shares were up 5.4% during trading on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $67.08 and last traded at $68.1320. Approximately 967,905 shares traded hands during trading, an increase of 31% from the average daily volume of 738,801 shares. The stock had previously closed at $64.64.

CECO has been the subject of a number of other research reports. Northland Securities set a $125.00 price target on shares of CECO Environmental in a report on Thursday, August 13th. JPMorgan Chase & Co. reduced their price target on shares of CECO Environmental from $130.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday. TD Cowen began coverage on shares of CECO Environmental in a research note on Wednesday, August 5th. They issued a “buy” rating and a $85.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 target price on shares of CECO Environmental in a research note on Tuesday, August 11th. Finally, Weiss Ratings downgraded CECO Environmental from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.38.

Institutional Trading of CECO Environmental

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

CECO Environmental Stock Performance

The company has a market cap of $3.52 billion, a PE ratio of -86.94 and a beta of 1.50. The company has a quick ratio of 1.18, a current ratio of 1.50 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $72.33 and a 200-day moving average of $75.97.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results on Monday, August 10th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. The business had revenue of $284.96 million during 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 EPS. As a group, analysts anticipate that CECO Environmental Corp. will post 2.43 earnings per share for the current year.

CECO Environmental Company Profile

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.