CECO Environmental (NASDAQ:CECO) PT Raised to $35.00 at HC Wainwright

CECO Environmental (NASDAQ:CECO) had its target price increased by HC Wainwright from $30.00 to $35.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for CECO Environmental’s Q4 2024 earnings at $0.43 EPS and FY2024 earnings at $0.96 EPS.

A number of other research firms have also weighed in on CECO. Craig Hallum upped their price objective on shares of CECO Environmental from $25.00 to $28.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Needham & Company LLC upped their price objective on shares of CECO Environmental from $34.00 to $35.00 and gave the company a buy rating in a report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of Buy and a consensus target price of $34.80.

CECO Environmental Stock Down 3.1 %

Shares of CECO opened at $27.64 on Wednesday. The firm has a market capitalization of $966.29 million, a P/E ratio of 78.97, a P/E/G ratio of 2.07 and a beta of 1.37. CECO Environmental has a 12-month low of $11.46 and a 12-month high of $31.55. The company has a current ratio of 1.36, a quick ratio of 1.19 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average price of $26.91 and a 200-day moving average price of $23.84.

CECO Environmental (NASDAQ:CECO) last issued its earnings results on Tuesday, July 30th. The company reported $0.20 earnings per share (EPS) 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 analyst estimates of $143.33 million. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 earnings per share. Equities research analysts expect that CECO Environmental will post 0.92 earnings per share for the current year.

Insider Buying and Selling

In other CECO Environmental news, Director Richard F. Wallman purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average price of $24.50 per share, for a total transaction 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 accessible through this link. 16.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CECO Environmental

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in CECO Environmental by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company’s stock worth $35,138,000 after purchasing an additional 24,812 shares in the last quarter. First Eagle Investment Management LLC boosted its position in CECO Environmental by 22.7% in the 1st quarter. First Eagle Investment Management LLC now owns 592,864 shares of the company’s stock worth $13,648,000 after purchasing an additional 109,500 shares in the last quarter. Russell Investments Group Ltd. boosted its position in CECO Environmental by 28.3% in the 4th quarter. Russell Investments Group Ltd. now owns 448,248 shares of the company’s stock worth $9,090,000 after purchasing an additional 98,951 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in CECO Environmental by 4.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 338,640 shares of the company’s stock worth $7,795,000 after purchasing an additional 14,690 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in CECO Environmental by 651,526.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 293,232 shares of the company’s stock worth $8,460,000 after purchasing an additional 293,187 shares in the last quarter. 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.