CECO Environmental (NASDAQ:CECO) Price Target Raised to $28.00 at Craig Hallum

CECO Environmental (NASDAQ:CECO) had its target price boosted by Craig Hallum from $25.00 to $28.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also commented on the company. Roth Mkm upped their price target on CECO Environmental from $22.00 to $25.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Northland Securities upped their price target on CECO Environmental from $27.00 to $28.00 and gave the stock an outperform rating in a research note on Wednesday, March 6th. Needham & Company LLC upped their price target on CECO Environmental from $23.00 to $26.00 and gave the stock a buy rating in a research note on Wednesday. Finally, HC Wainwright restated a buy rating and set a $30.00 price target on shares of CECO Environmental in a research note on Wednesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $27.40.

CECO Environmental Stock Performance

NASDAQ CECO opened at $22.00 on Wednesday. The business’s 50-day moving average price is $22.62 and its 200 day moving average price is $20.33. CECO Environmental has a twelve month low of $10.68 and a twelve month high of $25.82. The company has a market capitalization of $767.14 million, a PE ratio of 59.46, a price-to-earnings-growth ratio of 1.76 and a beta of 1.23. The company has a current ratio of 1.39, a quick ratio of 1.22 and a debt-to-equity ratio of 0.53.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. CECO Environmental had a return on equity of 11.57% and a net margin of 2.37%. The firm had revenue of $126.30 million for the quarter, compared to the consensus estimate of $135.82 million. During the same period in the prior year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, research analysts predict that CECO Environmental will post 0.96 earnings per share for the current year.

Insider Activity

In related news, Director Laurie Siegel bought 2,500 shares of the stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average price of $19.87 per share, for a total transaction of $49,675.00. Following the completion of the purchase, the director now owns 7,906 shares in the company, valued at $157,092.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On CECO Environmental

A number of large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in shares of CECO Environmental by 247.5% in the first quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock valued at $1,025,000 after buying an additional 31,707 shares in the last quarter. Precision Wealth Strategies LLC purchased a new position in CECO Environmental in the first quarter valued at about $255,000. Principal Financial Group Inc. purchased a new position in CECO Environmental in the first quarter valued at about $379,000. Robeco Schweiz AG purchased a new position in CECO Environmental in the first quarter valued at about $2,738,000. Finally, Los Angeles Capital Management LLC boosted its holdings in CECO Environmental by 40.9% in the first quarter. Los Angeles Capital Management LLC now owns 50,637 shares of the company’s stock valued at $1,166,000 after purchasing an additional 14,687 shares during the last quarter. 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.