CECO Environmental’s (CECO) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of CECO Environmental (NASDAQ:CECO) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $33.00 price target on the stock.

A number of other equities analysts have also recently issued reports on the stock. Northland Securities upped their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. HC Wainwright restated a “neutral” rating on shares of CECO Environmental in a research note on Wednesday. Finally, Craig Hallum upped their target price on shares of CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, CECO Environmental has a consensus rating of “Moderate Buy” and an average price target of $36.20.

CECO Environmental Stock Down 1.2 %

Shares of CECO Environmental stock opened at $24.88 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The company’s fifty day simple moving average is $28.42 and its two-hundred day simple moving average is $28.22. The company has a market cap of $870.28 million, a P/E ratio of 75.40, a PEG ratio of 1.39 and a beta of 1.41. CECO Environmental has a 12-month low of $18.50 and a 12-month high of $35.16.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $158.60 million for the quarter, compared to the consensus estimate of $156.09 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 EPS. Research analysts anticipate that CECO Environmental will post 0.67 EPS for the current year.

Insider Activity

In other news, Director Richard F. Wallman bought 1,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average cost of $25.15 per share, with a total value of $25,150.00. Following the acquisition, the director now owns 207,117 shares of the company’s stock, valued at $5,208,992.55. The trade was a 0.49 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On CECO Environmental

A number of institutional investors have recently added to or reduced their stakes in CECO. Private Advisor Group LLC boosted its position in shares of CECO Environmental by 5.8% during the 3rd quarter. Private Advisor Group LLC now owns 16,065 shares of the company’s stock valued at $453,000 after acquiring an additional 885 shares during the last quarter. Van ECK Associates Corp lifted its position in CECO Environmental by 466.4% in the third quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock worth $10,082,000 after buying an additional 312,803 shares during the last quarter. Principal Financial Group Inc. lifted its position in CECO Environmental by 17.6% in the third quarter. Principal Financial Group Inc. now owns 22,246 shares of the company’s stock worth $627,000 after buying an additional 3,330 shares during the last quarter. Quest Partners LLC bought a new stake in CECO Environmental in the third quarter worth $69,000. Finally, First Horizon Advisors Inc. lifted its position in CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after buying an additional 591 shares during the last quarter. 68.08% of the stock is 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.