Brokerages Set CECO Environmental Corp. (NASDAQ:CECO) Price Target at $34.80

Shares of CECO Environmental Corp. (NASDAQ:CECO) have received an average recommendation of “Buy” from the five brokerages that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have covered the stock in the last year is $34.80.

A number of analysts have weighed in on the stock. Roth Mkm raised their price objective on shares of CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Northland Securities raised their price objective on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Craig Hallum raised their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC raised their target price on shares of CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, HC Wainwright raised their target price on shares of CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st.

CECO Environmental Stock Up 4.6 %

Shares of NASDAQ:CECO opened at $25.93 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. CECO Environmental has a fifty-two week low of $13.29 and a fifty-two week high of $31.55. The firm’s 50 day moving average price is $28.21 and its 200 day moving average price is $25.26. The stock has a market cap of $906.51 million, a price-to-earnings ratio of 74.09, a price-to-earnings-growth ratio of 1.78 and a beta of 1.33.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The company had revenue of $137.50 million for the quarter, compared to analysts’ expectations of $143.33 million. During the same quarter last year, the company earned $0.15 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities research analysts predict that CECO Environmental will post 0.93 earnings per share for the current fiscal year.

Insider Transactions at CECO Environmental

In other news, Director Richard F. Wallman acquired 10,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were purchased at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the transaction, the director now directly owns 62,000 shares in the company, valued at approximately $1,783,740. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. CWM LLC grew its position in CECO Environmental by 45.3% in the 2nd quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after buying an additional 708 shares during the last quarter. Kessler Investment Group LLC grew its position in CECO Environmental by 27.8% in the 2nd quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock valued at $207,000 after buying an additional 1,560 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of CECO Environmental by 14.8% during the 2nd quarter. Principal Financial Group Inc. now owns 18,916 shares of the company’s stock worth $546,000 after purchasing an additional 2,439 shares in the last quarter. AJOVista LLC purchased a new stake in shares of CECO Environmental during the 4th quarter worth $57,000. Finally, Essex Investment Management Co. LLC boosted its position in shares of CECO Environmental by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 205,982 shares of the company’s stock worth $4,742,000 after purchasing an additional 3,147 shares in the last quarter. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

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.