Northland Securities Increases CECO Environmental (NASDAQ:CECO) Price Target to $38.00

CECO Environmental (NASDAQ:CECO) had its price target increased by Northland Securities from $35.00 to $38.00 in a research report report published on Friday,Benzinga reports. Northland Securities currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the company. Needham & Company LLC decreased their target price on CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of CECO Environmental in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $35.00.

CECO Environmental Price Performance

CECO Environmental stock opened at $29.49 on Friday. The company’s 50 day simple moving average is $28.57 and its 200-day simple moving average is $27.82. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. CECO Environmental has a 1 year low of $18.50 and a 1 year high of $35.16. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 89.37, a price-to-earnings-growth ratio of 2.92 and a beta of 1.41.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The firm had revenue of $135.50 million during the quarter, compared to analysts’ expectations of $155.94 million. During the same period in the previous year, the firm earned $0.22 EPS. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, equities research analysts expect that CECO Environmental will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CECO. First Horizon Advisors Inc. raised its position in CECO Environmental by 71.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after purchasing an additional 591 shares in the last quarter. Quest Partners LLC acquired a new position in shares of CECO Environmental during the third quarter worth about $69,000. Morse Asset Management Inc purchased a new stake in shares of CECO Environmental during the third quarter worth approximately $76,000. Eastern Bank acquired a new stake in CECO Environmental in the third quarter valued at approximately $113,000. Finally, SG Americas Securities LLC purchased a new position in CECO Environmental in the second quarter worth approximately $201,000. 68.08% of the stock is owned by institutional investors and hedge funds.

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.