CECO Environmental (NASDAQ:CECO) Price Target Raised to $34.00

CECO Environmental (NASDAQ:CECO) had its price target lifted by Needham & Company LLC from $26.00 to $34.00 in a report released on Tuesday morning, MarketBeat Ratings reports. Needham & Company LLC currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Craig Hallum upped their price target on shares of CECO Environmental from $25.00 to $28.00 and gave the company a buy rating in a research note on Wednesday, May 1st. HC Wainwright reiterated a buy rating and set a $30.00 target price on shares of CECO Environmental in a research note on Wednesday, May 1st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of Buy and an average target price of $29.00.

CECO Environmental Trading Down 1.6 %

CECO Environmental stock opened at $29.09 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.19 and a current ratio of 1.38. The stock has a 50-day simple moving average of $25.95 and a 200 day simple moving average of $23.04. The stock has a market capitalization of $1.02 billion, a P/E ratio of 83.11, a PEG ratio of 2.22 and a beta of 1.37. CECO Environmental has a 52 week low of $11.46 and a 52 week high of $31.55.

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 analysts’ consensus estimates of $0.11. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. The business had revenue of $126.30 million for the quarter, compared to analyst estimates of $135.82 million. During the same period in the previous year, the firm earned $0.10 EPS. The firm’s revenue was up 12.2% compared to the same quarter last year. Analysts expect that CECO Environmental will post 0.93 earnings per share for the current year.

Insider Buying and Selling at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman bought 5,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $21.95 per share, with a total value of $109,750.00. Following the completion of the acquisition, the director now owns 191,853 shares of the company’s stock, valued at $4,211,173.35. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Richard F. Wallman bought 5,000 shares of CECO Environmental stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $21.95 per share, with a total value of $109,750.00. Following the acquisition, the director now owns 191,853 shares in the company, valued at approximately $4,211,173.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard F. Wallman purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was bought at an average price of $24.50 per share, for a total transaction of $98,000.00. Following the transaction, 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. Insiders own 16.90% of the company’s stock.

Institutional Trading of CECO Environmental

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in CECO Environmental by 1.7% during the first quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company’s stock valued at $35,138,000 after purchasing an additional 24,812 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of CECO Environmental by 271.2% in the 3rd quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock valued at $10,047,000 after purchasing an additional 459,646 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in shares of CECO Environmental by 22.7% during the 1st quarter. First Eagle Investment Management LLC now owns 592,864 shares of the company’s stock worth $13,648,000 after buying an additional 109,500 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of CECO Environmental by 28.3% during the 4th quarter. Russell Investments Group Ltd. now owns 448,248 shares of the company’s stock worth $9,090,000 after buying an additional 98,951 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its stake in CECO Environmental by 4.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 338,640 shares of the company’s stock valued at $7,795,000 after buying an additional 14,690 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.