CECO Environmental (NASDAQ:CECO) Trading Up 4.8% – What’s Next?

CECO Environmental Corp. (NASDAQ:CECO) traded up 4.8% on Monday . The company traded as high as $30.92 and last traded at $30.87. 140,905 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 270,601 shares. The stock had previously closed at $29.47.

Analysts Set New Price Targets

Several research analysts have commented on CECO shares. Northland Securities lifted their target price on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of CECO Environmental in a report on Wednesday, October 30th. Finally, Needham & Company LLC decreased their target price on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, CECO Environmental currently has a consensus rating of “Buy” and a consensus price target of $35.00.

CECO Environmental Stock Up 3.6 %

The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 92.55, a PEG ratio of 2.92 and a beta of 1.41. The firm has a 50 day moving average of $28.82 and a 200 day moving average of $28.05. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05). CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The company had revenue of $135.50 million for the quarter, compared to analyst estimates of $155.94 million. During the same period last year, the business earned $0.22 EPS. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that CECO Environmental Corp. will post 0.79 earnings per share for the current year.

Hedge Funds Weigh In On CECO Environmental

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its position in CECO Environmental by 23.5% in the 3rd quarter. FMR LLC now owns 786,308 shares of the company’s stock valued at $22,174,000 after buying an additional 149,777 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of CECO Environmental by 1.7% during the third quarter. Geode Capital Management LLC now owns 689,487 shares of the company’s stock valued at $19,448,000 after acquiring an additional 11,857 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of CECO Environmental by 10.9% during the second quarter. First Eagle Investment Management LLC now owns 657,764 shares of the company’s stock valued at $18,976,000 after acquiring an additional 64,900 shares in the last quarter. Driehaus Capital Management LLC raised its position in shares of CECO Environmental by 37.4% during the second quarter. Driehaus Capital Management LLC now owns 586,249 shares of the company’s stock worth $16,913,000 after purchasing an additional 159,485 shares during the period. Finally, Robeco Schweiz AG lifted its holdings in shares of CECO Environmental by 375.2% in the 2nd quarter. Robeco Schweiz AG now owns 565,255 shares of the company’s stock worth $16,308,000 after purchasing an additional 446,305 shares in the last quarter. Institutional investors own 68.08% of the company’s stock.

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.