CECO Environmental Corp. (NASDAQ:CECO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of CECO Environmental Corp. (NASDAQ:CECO) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $53.60.

CECO has been the topic of several research analyst reports. Northland Securities set a $60.00 price objective on shares of CECO Environmental in a research note on Monday, October 20th. Zacks Research raised CECO Environmental from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Weiss Ratings restated a “buy (b-)” rating on shares of CECO Environmental in a research report on Wednesday, October 8th. Finally, Needham & Company LLC lifted their price objective on CECO Environmental from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th.

CECO Environmental Stock Performance

CECO Environmental stock opened at $54.93 on Wednesday. The firm has a market capitalization of $1.96 billion, a P/E ratio of 38.96 and a beta of 1.37. The stock has a fifty day moving average price of $51.21 and a two-hundred day moving average price of $42.46. CECO Environmental has a 52-week low of $17.57 and a 52-week high of $56.60. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.33 and a quick ratio of 1.13.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, October 28th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.01. The business had revenue of $197.60 million for the quarter, compared to analyst estimates of $190.36 million. CECO Environmental had a net margin of 7.22% and a return on equity of 10.84%. The firm’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 EPS. As a group, analysts anticipate that CECO Environmental will post 0.67 EPS for the current fiscal year.

Insider Buying and Selling at CECO Environmental

In related news, CEO Todd R. Gleason sold 98,101 shares of CECO Environmental stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $50.45, for a total value of $4,949,195.45. Following the completion of the transaction, the chief executive officer directly owned 410,835 shares of the company’s stock, valued at $20,726,625.75. The trade was a 19.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 300,000 shares of company stock valued at $15,104,854 in the last three months. Company insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On CECO Environmental

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CECO. Caitong International Asset Management Co. Ltd acquired a new position in shares of CECO Environmental during the third quarter worth approximately $25,000. Advisory Services Network LLC bought a new position in CECO Environmental in the 3rd quarter worth approximately $31,000. Farther Finance Advisors LLC raised its position in CECO Environmental by 224.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,445 shares of the company’s stock worth $41,000 after purchasing an additional 1,000 shares during the last quarter. Global Retirement Partners LLC acquired a new position in CECO Environmental during the 3rd quarter worth $50,000. Finally, First Horizon Corp bought a new position in CECO Environmental in the 3rd quarter valued at $64,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

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.