CECO Environmental Corp. (NASDAQ:CECO) Receives Average Recommendation of “Buy” from Analysts

Shares of CECO Environmental Corp. (NASDAQ:CECO) have been assigned an average recommendation of “Buy” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $27.40.

A number of research firms have recently issued reports on CECO. Craig Hallum upped their price target on CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Northland Securities upped their target price on CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Roth Mkm lifted their price target on CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Needham & Company LLC upped their price objective on shares of CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of CECO Environmental in a research report on Wednesday, May 1st.

CECO Environmental Trading Down 2.3 %

Shares of CECO stock opened at $22.45 on Wednesday. CECO Environmental has a fifty-two week low of $10.68 and a fifty-two week high of $25.82. The firm has a market capitalization of $784.40 million, a P/E ratio of 64.14, a PEG ratio of 1.60 and a beta of 1.24. The stock’s fifty day moving average is $22.74 and its two-hundred day moving average is $20.44. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 1.38.

CECO Environmental (NASDAQ:CECO) last posted its quarterly 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 net margin of 2.23% and a return on equity of 11.57%. The firm had revenue of $126.30 million for the quarter, compared to the consensus estimate of $135.82 million. During the same period last year, the firm posted $0.10 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. Research analysts expect that CECO Environmental will post 0.94 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Laurie Siegel bought 2,500 shares of the stock in a transaction on Wednesday, March 6th. The stock was bought at an average price of $19.87 per share, with a total value of $49,675.00. Following the completion of the purchase, the director now directly owns 7,906 shares in the company, valued at approximately $157,092.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Laurie Siegel bought 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average price 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard F. Wallman purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were purchased at an average price of $21.95 per share, for a total transaction of $109,750.00. Following the completion of the purchase, the director now directly owns 191,853 shares of the company’s stock, valued at $4,211,173.35. The disclosure for this purchase can be found here. Corporate insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On CECO Environmental

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AJOVista LLC acquired a new position in shares of CECO Environmental in the fourth quarter worth $57,000. Tower Research Capital LLC TRC grew its stake in CECO Environmental by 89.7% during the 4th 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 in the last quarter. Kessler Investment Group LLC purchased a new stake in CECO Environmental during the 4th quarter worth about $125,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in CECO Environmental during the 4th quarter worth about $159,000. Finally, Boston Partners acquired a new stake in CECO Environmental in the 3rd quarter valued at about $201,000. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

CECO Environmental Company Profile

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.