Needham & Company LLC Raises CECO Environmental (NASDAQ:CECO) Price Target to $35.00

CECO Environmental (NASDAQ:CECO) had its target price increased by Needham & Company LLC from $34.00 to $35.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently commented on CECO. HC Wainwright reissued a buy rating and issued a $30.00 price objective on shares of CECO Environmental in a research note on Wednesday, May 1st. Craig Hallum boosted their price objective on CECO Environmental from $25.00 to $28.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $34.80.

CECO Environmental Stock Down 3.1 %

Shares of CECO Environmental stock opened at $27.64 on Wednesday. The business’s fifty day moving average price is $26.91 and its two-hundred day moving average price is $23.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.19. The company has a market capitalization of $966.29 million, a P/E ratio of 78.97, a PEG ratio of 2.09 and a beta of 1.37. CECO Environmental has a 1-year low of $11.46 and a 1-year high of $31.55.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The company had revenue of $137.50 million for the quarter, compared to the consensus estimate of $143.33 million. During the same quarter in the previous year, the business earned $0.15 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, research analysts forecast that CECO Environmental will post 0.93 EPS for the current year.

Insider Buying and Selling

In related news, Director Richard F. Wallman bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average cost of $24.50 per share, for a total transaction of $98,000.00. Following the acquisition, the director now directly owns 205,319 shares of the company’s stock, valued at approximately $5,030,315.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On CECO Environmental

Hedge funds have recently modified their holdings of the stock. CWM LLC grew its holdings in shares of CECO Environmental by 45.3% during the second quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after buying an additional 708 shares in the last quarter. Kessler Investment Group LLC raised its position in CECO Environmental by 27.8% during the second 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 period. Tower Research Capital LLC TRC raised its position in CECO Environmental by 89.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $94,000 after buying an additional 2,195 shares during the period. Principal Financial Group Inc. raised its position in CECO Environmental by 14.8% during the second quarter. Principal Financial Group Inc. now owns 18,916 shares of the company’s stock valued at $546,000 after buying an additional 2,439 shares during the period. Finally, AJOVista LLC acquired a new position in CECO Environmental during the fourth quarter valued at $57,000. 68.08% of the stock is currently owned by institutional investors and hedge funds.

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.