Northland Capmk Analysts Lower Earnings Estimates for CECO Environmental Corp. (NASDAQ:CECO)

CECO Environmental Corp. (NASDAQ:CECO) – Research analysts at Northland Capmk cut their Q2 2024 earnings per share (EPS) estimates for shares of CECO Environmental in a research report issued to clients and investors on Tuesday, April 30th. Northland Capmk analyst B. Brooks now forecasts that the company will post earnings of $0.18 per share for the quarter, down from their prior estimate of $0.19. The consensus estimate for CECO Environmental’s current full-year earnings is $0.94 per share. Northland Capmk also issued estimates for CECO Environmental’s Q4 2024 earnings at $0.36 EPS, FY2024 earnings at $0.93 EPS and Q1 2025 earnings at $0.19 EPS.

Several other analysts also recently weighed in on CECO. Roth Mkm upped their price objective on 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 increased their target price on CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Craig Hallum increased their target price on CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC increased their target price on CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of CECO Environmental in a research report on Wednesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $27.40.

CECO Environmental Price Performance

Shares of CECO stock opened at $22.45 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.38 and a debt-to-equity ratio of 0.53. CECO Environmental has a twelve month low of $10.68 and a twelve month high of $25.82. The company has a market cap of $784.40 million, a P/E ratio of 64.14, a P/E/G ratio of 1.57 and a beta of 1.24. The business has a fifty day simple moving average of $22.70 and a 200 day simple moving average of $20.36.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) 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 2.23%. The company had revenue of $126.30 million for the quarter, compared to analyst estimates of $135.82 million. During the same period in the prior year, the firm posted $0.10 EPS. CECO Environmental’s quarterly revenue was up 12.2% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in shares of CECO Environmental by 89.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $94,000 after purchasing an additional 2,195 shares during the period. AJOVista LLC acquired a new position in CECO Environmental during the fourth quarter worth $57,000. Essex Investment Management Co. LLC raised its holdings in CECO Environmental by 1.6% during the first quarter. Essex Investment Management Co. LLC now owns 205,982 shares of the company’s stock worth $4,742,000 after buying an additional 3,147 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of CECO Environmental by 5.4% in the third quarter. Janney Montgomery Scott LLC now owns 64,456 shares of the company’s stock valued at $1,029,000 after buying an additional 3,300 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its holdings in shares of CECO Environmental by 20.3% during the third quarter. Mesirow Financial Investment Management Inc. now owns 19,714 shares of the company’s stock valued at $315,000 after buying an additional 3,328 shares during the last quarter. 68.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Richard F. Wallman acquired 5,000 shares of CECO Environmental stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $21.95 per share, with a total value of $109,750.00. Following the purchase, the director now owns 191,853 shares in the company, valued at approximately $4,211,173.35. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other CECO Environmental news, Director Laurie Siegel purchased 2,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were purchased at an average cost of $19.87 per share, for a total transaction of $49,675.00. Following the acquisition, the director now owns 7,906 shares of the company’s stock, valued at $157,092.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard F. Wallman acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost 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 $4,211,173.35. The disclosure for this purchase can be found here. Company insiders own 16.90% 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.