CECO Environmental Corp. (NASDAQ:CECO) Given Consensus Recommendation of “Buy” by Brokerages

Shares of CECO Environmental Corp. (NASDAQ:CECO) have been given an average rating of “Buy” by the five ratings firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $34.80.

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

Insider Activity at CECO Environmental

In other news, Director Richard F. Wallman bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were purchased at an average price of $28.77 per share, with a total value of $287,700.00. Following the purchase, the director now owns 62,000 shares in the company, valued at $1,783,740. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.90% of the stock is owned by insiders.

Institutional Investors Weigh In On CECO Environmental

A number of hedge funds have recently added to or reduced their stakes in the business. AJOVista LLC purchased a new position in CECO Environmental in the fourth quarter valued at $57,000. CWM LLC grew its position in shares of CECO Environmental by 45.3% during 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. EntryPoint Capital LLC purchased a new stake in shares of CECO Environmental during the first quarter worth approximately $72,000. Kessler Investment Group LLC acquired a new stake in shares of CECO Environmental in the 4th quarter valued at $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in CECO Environmental in the fourth quarter valued at $159,000. 68.08% of the stock is currently owned by institutional investors and hedge funds.

CECO Environmental Trading Down 2.1 %

Shares of CECO opened at $24.78 on Tuesday. The firm’s fifty day moving average is $28.25 and its two-hundred day moving average is $25.19. The stock has a market cap of $865.71 million, a PE ratio of 70.80, a price-to-earnings-growth ratio of 2.08 and a beta of 1.33. The company has a quick ratio of 1.17, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. CECO Environmental has a 52-week low of $13.29 and a 52-week high of $31.55.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.04. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The company had revenue of $137.50 million during the quarter, compared to analysts’ expectations of $143.33 million. During the same quarter in the prior year, the company earned $0.15 EPS. CECO Environmental’s revenue was up 6.4% compared to the same quarter last year. Research analysts forecast that CECO Environmental will post 0.93 earnings per share for the current fiscal year.

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.