CECO Environmental Corp. (NASDAQ:CECO) Given Average Recommendation of “Buy” by Brokerages

Shares of CECO Environmental Corp. (NASDAQ:CECO) have been given an average recommendation of “Buy” by the five ratings firms that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $27.40.

Several equities research analysts have commented on CECO shares. 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 research report on Wednesday, May 1st. Roth Mkm boosted their price target on shares of CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Northland Securities boosted their price target on shares of CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of CECO Environmental in a report on Wednesday, May 1st. Finally, Needham & Company LLC upped 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, May 1st.

CECO Environmental Price Performance

Shares of NASDAQ CECO opened at $24.20 on Thursday. The firm has a market cap of $845.45 million, a PE ratio of 69.14, a PEG ratio of 1.70 and a beta of 1.35. The company has a current ratio of 1.38, a quick ratio of 1.19 and a debt-to-equity ratio of 0.53. CECO Environmental has a 1-year low of $11.46 and a 1-year high of $26.80. The company has a fifty day moving average price of $24.06 and a 200 day moving average price of $21.93.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The firm had revenue of $126.30 million for the quarter, compared to analysts’ expectations of $135.82 million. During the same period in the previous year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. Research analysts predict that CECO Environmental will post 0.94 earnings per share for the current fiscal year.

Insider Buying and Selling at CECO Environmental

In related news, Director Richard F. Wallman purchased 4,000 shares of the stock in a transaction on Tuesday, May 21st. The shares were purchased at an average cost of $24.50 per share, with a total value of $98,000.00. Following the acquisition, the director now directly owns 205,319 shares in the company, valued at $5,030,315.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other CECO Environmental news, Director Richard F. Wallman bought 5,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were purchased at an average price of $21.95 per share, for a total transaction of $109,750.00. Following the transaction, the director now directly owns 191,853 shares in the company, valued at approximately $4,211,173.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard F. Wallman bought 4,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were acquired at an average price of $24.50 per share, for a total transaction of $98,000.00. Following the transaction, the director now owns 205,319 shares in the company, valued at $5,030,315.50. The disclosure for this purchase can be found here. Insiders own 16.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CECO. AJOVista LLC acquired a new stake in shares of CECO Environmental during the 4th quarter worth approximately $57,000. EntryPoint Capital LLC bought a new position in CECO Environmental in the 1st quarter valued at approximately $72,000. Tower Research Capital LLC TRC lifted its stake in CECO Environmental by 89.7% in the 4th 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 last quarter. Kessler Investment Group LLC bought a new position in CECO Environmental in the 4th quarter valued at approximately $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in CECO Environmental in the 4th quarter valued at approximately $159,000. 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.