Brokerages Set CECO Environmental Corp. (NASDAQ:CECO) Price Target at $34.80

CECO Environmental Corp. (NASDAQ:CECO) has been given a consensus rating of “Buy” by the five research firms that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $34.80.

Several research firms have recently weighed in on CECO. HC Wainwright increased their price objective on CECO Environmental from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Needham & Company LLC raised their price objective on shares of CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Roth Mkm lifted their price objective on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Craig Hallum increased their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Northland Securities boosted their price target on CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st.

CECO Environmental Stock Performance

Shares of CECO opened at $28.20 on Friday. CECO Environmental has a 1 year low of $15.27 and a 1 year high of $31.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.36. The stock has a market capitalization of $985.20 million, a PE ratio of 80.57, a PEG ratio of 1.99 and a beta of 1.33. The stock has a 50-day simple moving average of $27.93 and a 200-day simple moving average of $25.93.

CECO Environmental (NASDAQ:CECO) last issued its earnings results on Tuesday, July 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.04. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The business had revenue of $137.50 million during the quarter, compared to analysts’ expectations of $143.33 million. During the same quarter in the prior year, the business posted $0.15 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts predict that CECO Environmental will post 0.93 earnings per share for the current fiscal year.

Insider Transactions at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman acquired 10,000 shares of the stock in a transaction on Friday, August 30th. The shares were bought at an average price of $28.77 per share, with a total value of $287,700.00. Following the acquisition, the director now owns 62,000 shares of the company’s stock, valued at $1,783,740. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 16.90% of the company’s stock.

Institutional Trading of CECO Environmental

Several hedge funds and other institutional investors have recently made changes to their positions in CECO. Vanguard Group Inc. lifted its position in shares of CECO Environmental by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company’s stock valued at $35,138,000 after acquiring an additional 24,812 shares during the period. First Eagle Investment Management LLC grew its holdings in CECO Environmental by 10.9% in the second quarter. First Eagle Investment Management LLC now owns 657,764 shares of the company’s stock valued at $18,976,000 after purchasing an additional 64,900 shares during the last quarter. Driehaus Capital Management LLC increased its position in shares of CECO Environmental by 37.4% in the second quarter. Driehaus Capital Management LLC now owns 586,249 shares of the company’s stock valued at $16,913,000 after buying an additional 159,485 shares in the last quarter. Robeco Schweiz AG raised its stake in shares of CECO Environmental by 375.2% during the 2nd quarter. Robeco Schweiz AG now owns 565,255 shares of the company’s stock worth $16,308,000 after buying an additional 446,305 shares during the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in shares of CECO Environmental in the 2nd quarter worth about $15,495,000. 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.