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

CECO Environmental Corp. (NASDAQ:CECO) has been assigned an average rating of “Buy” from the five analysts that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $34.80.

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

Insider Transactions at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman bought 10,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were bought at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the transaction, the director now owns 62,000 shares of the company’s stock, valued at approximately $1,783,740. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 16.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. 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 during the last quarter. EntryPoint Capital LLC acquired a new position in CECO Environmental during the first quarter worth about $72,000. SG Americas Securities LLC purchased a new stake in shares of CECO Environmental in the second quarter valued at about $201,000. Kessler Investment Group LLC grew its position in shares of CECO Environmental by 27.8% in the second quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock valued at $207,000 after purchasing an additional 1,560 shares during the last quarter. Finally, Arizona State Retirement System purchased a new position in shares of CECO Environmental during the 2nd quarter worth approximately $239,000. 68.08% of the stock is owned by hedge funds and other institutional investors.

CECO Environmental Price Performance

CECO Environmental stock opened at $27.16 on Friday. The company’s 50 day simple moving average is $27.82 and its 200-day simple moving average is $25.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.36. CECO Environmental has a 1 year low of $15.27 and a 1 year high of $31.55. The company has a market capitalization of $948.86 million, a price-to-earnings ratio of 77.60, a price-to-earnings-growth ratio of 1.99 and a beta of 1.33.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, July 30th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. The firm had revenue of $137.50 million for the quarter, compared to analyst estimates of $143.33 million. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. CECO Environmental’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. As a group, equities research analysts expect that CECO Environmental will post 0.93 earnings per share for the current 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.