CECO Environmental (NASDAQ:CECO) Given New $26.00 Price Target at Needham & Company LLC

CECO Environmental (NASDAQ:CECO) had its target price lifted by Needham & Company LLC from $23.00 to $26.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently weighed in on the stock. Northland Securities upped their price target on shares of CECO Environmental from $27.00 to $28.00 and gave the stock an outperform rating in a report on Wednesday, March 6th. HC Wainwright upped their price target on shares of CECO Environmental from $22.00 to $30.00 and gave the stock a buy rating in a report on Wednesday, March 6th. Finally, Roth Mkm upped their price target on shares of CECO Environmental from $22.00 to $25.00 and gave the stock a buy rating in a report on Wednesday, March 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental has an average rating of Buy and an average price target of $27.40.

CECO Environmental Stock Performance

Shares of NASDAQ:CECO opened at $22.00 on Wednesday. The company’s 50 day moving average price is $22.62 and its two-hundred day moving average price is $20.33. CECO Environmental has a 12-month low of $10.68 and a 12-month high of $25.82. The firm has a market cap of $767.14 million, a PE ratio of 59.46, a PEG ratio of 1.76 and a beta of 1.23. The company has a quick ratio of 1.22, a current ratio of 1.39 and a debt-to-equity ratio of 0.53.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. CECO Environmental had a net margin of 2.37% and a return on equity of 11.57%. The firm had revenue of $126.30 million for the quarter, compared to analyst estimates of $135.82 million. During the same quarter in the prior year, the business posted $0.10 EPS. The business’s revenue was up 12.2% compared to the same quarter last year. Equities research analysts predict that CECO Environmental will post 0.96 earnings per share for the current year.

Insider Activity at CECO Environmental

In related news, Director Laurie Siegel acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of $19.87 per share, with a total value of $49,675.00. Following the purchase, the director now directly owns 7,906 shares in the company, valued at $157,092.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.90% of the stock is owned by insiders.

Hedge Funds Weigh In On CECO Environmental

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in CECO Environmental by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,440,579 shares of the company’s stock valued at $23,006,000 after purchasing an additional 13,747 shares during the last quarter. RK Capital Management LLC lifted its stake in CECO Environmental by 36.6% in the 3rd quarter. RK Capital Management LLC now owns 884,347 shares of the company’s stock valued at $14,123,000 after purchasing an additional 237,093 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of CECO Environmental by 271.2% during the third quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock valued at $10,047,000 after acquiring an additional 459,646 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of CECO Environmental by 9.7% during the fourth quarter. First Eagle Investment Management LLC now owns 483,364 shares of the company’s stock valued at $9,803,000 after acquiring an additional 42,731 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of CECO Environmental by 28.3% during the fourth quarter. Russell Investments Group Ltd. now owns 448,248 shares of the company’s stock valued at $9,090,000 after acquiring an additional 98,951 shares during 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.