CECO Environmental (NASDAQ:CECO) Price Target Raised to $26.00

CECO Environmental (NASDAQ:CECO) had its price target increased by Needham & Company LLC from $23.00 to $26.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

CECO has been the topic of several other reports. HC Wainwright upped their price target on shares of CECO Environmental from $22.00 to $30.00 and gave the company a buy rating in a report on Wednesday, March 6th. Roth Mkm upped their target price on CECO Environmental from $22.00 to $25.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Finally, Northland Securities raised 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CECO Environmental currently has a consensus rating of Buy and an average target price of $27.40.

CECO Environmental Price Performance

NASDAQ:CECO opened at $22.45 on Wednesday. The firm has a market capitalization of $784.40 million, a price-to-earnings ratio of 64.14, a PEG ratio of 1.63 and a beta of 1.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.38 and a quick ratio of 1.22. The business has a 50 day simple moving average of $22.74 and a 200-day simple moving average of $20.41. CECO Environmental has a 1 year low of $10.68 and a 1 year high of $25.82.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $135.82 million. During the same period last year, the company earned $0.10 earnings per share. CECO Environmental’s revenue was up 12.2% on a year-over-year basis. Equities analysts forecast that CECO Environmental will post 0.94 EPS for the current year.

Insider Buying and Selling at CECO Environmental

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

Hedge Funds Weigh In On CECO Environmental

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its position in shares of CECO Environmental by 89.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $94,000 after acquiring an additional 2,195 shares in the last quarter. AJOVista LLC bought a new stake in CECO Environmental during the fourth quarter valued at about $57,000. Essex Investment Management Co. LLC grew its stake in CECO Environmental by 1.6% in the first quarter. Essex Investment Management Co. LLC now owns 205,982 shares of the company’s stock valued at $4,742,000 after purchasing an additional 3,147 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in CECO Environmental by 5.4% in the third quarter. Janney Montgomery Scott LLC now owns 64,456 shares of the company’s stock worth $1,029,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its position 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. 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.