CECO Environmental Corp. (NASDAQ:CECO) Given Average Recommendation of “Buy” by Analysts

Shares of CECO Environmental Corp. (NASDAQ:CECO) have received an average rating of “Buy” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $27.40.

Several analysts have issued reports on the stock. Roth Mkm raised their price target on shares of CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Craig Hallum boosted their price target on CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Northland Securities raised their price objective on CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of CECO Environmental in a research report on Wednesday, May 1st. Finally, Needham & Company LLC raised their target price on CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st.

CECO Environmental Trading Up 1.2 %

CECO Environmental stock opened at $26.45 on Thursday. CECO Environmental has a one year low of $11.46 and a one year high of $26.80. The company’s fifty day moving average price is $24.33 and its two-hundred day moving average price is $22.15. The company has a market capitalization of $924.16 million, a price-to-earnings ratio of 75.57, a PEG ratio of 1.86 and a beta of 1.35. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.38 and a quick ratio of 1.19.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. The firm had revenue of $126.30 million during the quarter, compared to analyst estimates of $135.82 million. During the same period in the previous year, the company earned $0.10 EPS. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, analysts forecast that CECO Environmental will post 0.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard F. Wallman bought 4,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average price of $24.50 per share, with a total value of $98,000.00. Following the acquisition, the director now owns 205,319 shares in the company, valued at $5,030,315.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other CECO Environmental news, Director Richard F. Wallman acquired 5,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was purchased at an average price of $21.95 per share, for a total transaction of $109,750.00. Following the transaction, the director now owns 191,853 shares in the company, valued at approximately $4,211,173.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard F. Wallman bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average price 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 disclosure for this purchase can be found here. Corporate insiders own 16.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Great Lakes Advisors LLC bought a new stake in shares of CECO Environmental during the fourth quarter valued at approximately $2,720,000. Los Angeles Capital Management LLC bought a new stake in shares of CECO Environmental during the fourth quarter worth $729,000. Wellington Management Group LLP lifted its stake in shares of CECO Environmental by 271.2% during the third quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock valued at $10,047,000 after acquiring an additional 459,646 shares during the period. Guyasuta Investment Advisors Inc. bought a new position in CECO Environmental in the fourth quarter valued at about $203,000. Finally, Millrace Asset Group Inc. increased its position in CECO Environmental by 14.7% in the third quarter. Millrace Asset Group Inc. now owns 209,524 shares of the company’s stock worth $3,346,000 after purchasing an additional 26,822 shares during the period. Institutional investors and hedge funds 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.