Analysts Set CECO Environmental Corp. (NASDAQ:CECO) Target Price at $34.80

CECO Environmental Corp. (NASDAQ:CECO) has received an average recommendation of “Buy” from the five analysts that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $34.80.

A number of research analysts recently issued reports on CECO shares. Needham & Company LLC raised their price target on CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Craig Hallum raised their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. HC Wainwright lifted their target price on shares of CECO Environmental from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Northland Securities increased their price target on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Roth Mkm lifted their price objective on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st.

Insider Buying and Selling

In other news, Director Richard F. Wallman acquired 4,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were bought at an average cost of $24.50 per share, with a total value of $98,000.00. Following the purchase, the director now owns 205,319 shares of the company’s stock, valued at approximately $5,030,315.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On CECO Environmental

Hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its stake in shares of CECO Environmental by 45.3% during the 2nd 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. AJOVista LLC purchased a new position in CECO Environmental in the fourth quarter worth $57,000. EntryPoint Capital LLC acquired a new stake in CECO Environmental in the first quarter valued at $72,000. Kessler Investment Group LLC acquired a new stake in CECO Environmental in the fourth quarter valued at $125,000. Finally, SG Americas Securities LLC purchased a new stake in shares of CECO Environmental during the 2nd quarter worth $201,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

CECO Environmental Stock Up 4.3 %

CECO stock opened at $28.20 on Friday. The stock has a market cap of $985.20 million, a P/E ratio of 80.57, a PEG ratio of 2.07 and a beta of 1.37. The company has a current ratio of 1.36, a quick ratio of 1.19 and a debt-to-equity ratio of 0.50. CECO Environmental has a twelve month low of $12.55 and a twelve month high of $31.55. The company’s 50 day moving average is $27.39 and its two-hundred day moving average is $24.32.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. The firm had revenue of $137.50 million during the quarter, compared to analysts’ expectations of $143.33 million. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. CECO Environmental’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 earnings per share. Research analysts expect that CECO Environmental will post 0.92 earnings per share for the current fiscal year.

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.