HC Wainwright Comments on CECO Environmental Corp.’s Q3 2024 Earnings (NASDAQ:CECO)

CECO Environmental Corp. (NASDAQ:CECO) – Analysts at HC Wainwright lifted their Q3 2024 earnings estimates for CECO Environmental in a research report issued to clients and investors on Wednesday, May 1st. HC Wainwright analyst A. Dayal now expects that the company will earn $0.30 per share for the quarter, up from their previous estimate of $0.27. HC Wainwright has a “Buy” rating and a $30.00 price objective on the stock. The consensus estimate for CECO Environmental’s current full-year earnings is $0.94 per share. HC Wainwright also issued estimates for CECO Environmental’s Q4 2024 earnings at $0.37 EPS and FY2025 earnings at $1.41 EPS.

A number of other research firms have also commented on CECO. Northland Securities increased their price target on CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Needham & Company LLC increased their target price on shares of CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday. Craig Hallum boosted their price target on shares of CECO Environmental from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Roth Mkm increased their price objective on shares of CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $27.40.

CECO Environmental Stock Down 2.3 %

CECO stock opened at $22.45 on Friday. The firm has a market capitalization of $784.40 million, a PE ratio of 64.14, a P/E/G ratio of 1.57 and a beta of 1.24. The company has a quick ratio of 1.22, a current ratio of 1.38 and a debt-to-equity ratio of 0.53. CECO Environmental has a twelve month low of $10.68 and a twelve month high of $25.82. The stock’s 50 day moving average is $22.70 and its 200-day moving average is $20.36.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $126.30 million for the quarter, compared to analysts’ expectations of $135.82 million. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 EPS.

Insider Transactions at CECO Environmental

In related news, Director Richard F. Wallman purchased 5,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average price of $21.95 per share, for a total transaction of $109,750.00. Following the completion of the transaction, the director now owns 191,853 shares in the company, valued at $4,211,173.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Laurie Siegel bought 2,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average cost of $19.87 per share, with a total value of $49,675.00. Following the completion of the transaction, the director now directly owns 7,906 shares of the company’s stock, valued at approximately $157,092.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard F. Wallman bought 5,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was purchased at an average price of $21.95 per share, for a total transaction of $109,750.00. Following the completion of the purchase, the director now owns 191,853 shares of the company’s stock, valued at $4,211,173.35. The disclosure for this purchase can be found here. Company insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On CECO Environmental

Large investors have recently added to or reduced their stakes in the company. AJOVista LLC purchased a new stake in CECO Environmental during the fourth quarter valued at about $57,000. Tower Research Capital LLC TRC raised its position in shares of CECO Environmental by 89.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $94,000 after purchasing an additional 2,195 shares during the period. Kessler Investment Group LLC purchased a new stake in shares of CECO Environmental during the 4th quarter valued at approximately $125,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in CECO Environmental in the 4th quarter worth approximately $159,000. Finally, Boston Partners purchased a new position in CECO Environmental in the 3rd quarter valued at approximately $201,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

CECO Environmental Company Profile

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.