HC Wainwright Reaffirms “Buy” Rating for CECO Environmental (NASDAQ:CECO)

HC Wainwright reaffirmed their buy rating on shares of CECO Environmental (NASDAQ:CECO) in a research report sent to investors on Wednesday, Benzinga reports. HC Wainwright currently has a $35.00 target price on the stock. HC Wainwright also issued estimates for CECO Environmental’s Q4 2024 earnings at $0.31 EPS, FY2024 earnings at $0.77 EPS, Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.24 EPS, Q3 2025 earnings at $0.32 EPS, Q4 2025 earnings at $0.64 EPS and FY2025 earnings at $1.33 EPS.

Several other equities analysts have also weighed in on CECO. Craig Hallum lifted their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Roth Mkm boosted their price objective on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Needham & Company LLC increased their target price on CECO Environmental from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Northland Securities boosted their price target on CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, CECO Environmental has a consensus rating of “Buy” and a consensus target price of $34.40.

CECO Environmental Trading Down 1.4 %

Shares of CECO opened at $23.47 on Wednesday. CECO Environmental has a fifty-two week low of $15.65 and a fifty-two week high of $31.55. The stock has a fifty day moving average of $27.08 and a two-hundred day moving average of $26.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.30. The company has a market capitalization of $820.98 million, a PE ratio of 71.12, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The business had revenue of $135.50 million for the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period last year, the company posted $0.22 EPS. As a group, analysts forecast that CECO Environmental will post 0.82 EPS for the current year.

Insider Buying and Selling

In other CECO Environmental news, Director Richard F. Wallman acquired 10,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were bought at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the acquisition, the director now directly owns 62,000 shares of the company’s stock, valued at $1,783,740. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 16.90% of the company’s stock.

Institutional Trading of CECO Environmental

Several institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in shares of CECO Environmental by 247.5% in the 1st quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock valued at $1,025,000 after purchasing an additional 31,707 shares in the last quarter. Boston Partners bought a new stake in shares of CECO Environmental in the 1st quarter valued at approximately $516,000. Vanguard Group Inc. raised its position in shares of CECO Environmental by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company’s stock valued at $35,138,000 after acquiring an additional 24,812 shares in the last quarter. Sei Investments Co. lifted its stake in CECO Environmental by 35.2% during the first quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock worth $1,614,000 after purchasing an additional 18,272 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new position in CECO Environmental in the second quarter worth $15,495,000. 68.08% of the stock is owned by institutional investors and hedge funds.

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.