CECO Environmental (NASDAQ:CECO) Given New $35.00 Price Target at Roth Mkm

CECO Environmental (NASDAQ:CECO) had its price objective boosted by Roth Mkm from $26.00 to $35.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s price target points to a potential upside of 22.46% from the company’s previous close.

A number of other brokerages also recently weighed in on CECO. HC Wainwright boosted their target price on CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday. Craig Hallum boosted their price objective on CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Needham & Company LLC raised their target price on CECO Environmental from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $33.40.

CECO Environmental Stock Up 1.7 %

NASDAQ CECO traded up $0.47 during trading hours on Wednesday, hitting $28.58. The company’s stock had a trading volume of 70,672 shares, compared to its average volume of 285,324. The company has a market capitalization of $998.59 million, a PE ratio of 81.66, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The company has a current ratio of 1.38, a quick ratio of 1.19 and a debt-to-equity ratio of 0.53. CECO Environmental has a 52 week low of $11.46 and a 52 week high of $31.55. The company’s 50-day simple moving average is $26.72 and its two-hundred day simple moving average is $23.67.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The firm had revenue of $137.50 million for the quarter, compared to the consensus estimate of $143.33 million. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 EPS. Research analysts anticipate that CECO Environmental will post 0.93 EPS for the current fiscal year.

Insider Buying and Selling at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman purchased 4,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were bought at an average price of $24.50 per share, with a total value of $98,000.00. Following the completion of the transaction, the director now directly owns 205,319 shares in the company, valued at approximately $5,030,315.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 16.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in shares of CECO Environmental by 45.3% in the second quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after buying an additional 708 shares in the last quarter. Kessler Investment Group LLC boosted its holdings 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 purchasing an additional 1,560 shares during the period. Tower Research Capital LLC TRC grew its position in shares of CECO Environmental by 89.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $94,000 after purchasing an additional 2,195 shares in the last quarter. Principal Financial Group Inc. boosted its stake 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 purchased a new position in CECO Environmental during the fourth quarter worth about $57,000. Hedge funds and other institutional investors 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.