CECO Environmental Corp. (NASDAQ:CECO) Given Average Rating of “Buy” by Analysts

CECO Environmental Corp. (NASDAQ:CECO) has earned an average rating of “Buy” from the five research firms that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $34.80.

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

CECO Environmental Stock Performance

Shares of CECO Environmental stock opened at $28.95 on Tuesday. The firm has a market cap of $1.01 billion, a PE ratio of 82.71, a price-to-earnings-growth ratio of 2.08 and a beta of 1.37. CECO Environmental has a 1 year low of $13.13 and a 1 year high of $31.55. The firm’s 50-day simple moving average is $28.34 and its 200-day simple moving average is $25.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.36.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data 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 return on equity of 12.35% and a net margin of 2.33%. The firm had revenue of $137.50 million for the quarter, compared to analysts’ expectations of $143.33 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. CECO Environmental’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts forecast that CECO Environmental will post 0.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CECO Environmental

Several large investors have recently made changes to their positions in CECO. Hood River Capital Management LLC purchased a new stake in CECO Environmental during the second quarter valued at about $15,495,000. Robeco Schweiz AG grew its stake in CECO Environmental by 375.2% during the 2nd quarter. Robeco Schweiz AG now owns 565,255 shares of the company’s stock valued at $16,308,000 after acquiring an additional 446,305 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of CECO Environmental in the 2nd quarter valued at about $11,857,000. Allspring Global Investments Holdings LLC grew its position in CECO Environmental by 651,526.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 293,232 shares of the company’s stock valued at $8,460,000 after purchasing an additional 293,187 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in CECO Environmental in the 4th quarter worth approximately $4,153,000. Institutional investors 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.