CECO Environmental (NASDAQ:CECO) Price Target Raised to $28.00

CECO Environmental (NASDAQ:CECO) had its target price raised by Craig Hallum from $25.00 to $28.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also issued reports on CECO. Northland Securities boosted their price target on CECO Environmental from $27.00 to $28.00 and gave the company an outperform rating in a report on Wednesday, March 6th. Needham & Company LLC increased their price target on CECO Environmental from $23.00 to $26.00 and gave the stock a buy rating in a research report on Wednesday. HC Wainwright restated a buy rating and issued a $30.00 price objective on shares of CECO Environmental in a report on Wednesday. Finally, Roth Mkm increased their target price 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 investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $27.40.

CECO Environmental Stock Performance

Shares of CECO Environmental stock opened at $22.45 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.38 and a debt-to-equity ratio of 0.53. The stock’s fifty day moving average is $22.70 and its two-hundred day moving average is $20.36. CECO Environmental has a 52 week low of $10.68 and a 52 week high of $25.82. The company has a market capitalization of $784.40 million, a PE ratio of 64.14, a price-to-earnings-growth ratio of 1.57 and a beta of 1.24.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The firm had revenue of $126.30 million for the quarter, compared to analysts’ expectations of $135.82 million. During the same period in the prior year, the business posted $0.10 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, analysts expect that CECO Environmental will post 0.94 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Richard F. Wallman purchased 5,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were acquired at an average price of $21.95 per share, for a total transaction of $109,750.00. Following the purchase, the director now owns 191,853 shares of the company’s stock, valued at approximately $4,211,173.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Laurie Siegel acquired 2,500 shares of CECO Environmental stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average cost of $19.87 per share, for a total transaction of $49,675.00. Following the completion of the purchase, the director now directly owns 7,906 shares in the company, valued at approximately $157,092.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard F. Wallman bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average price of $21.95 per share, for a total transaction of $109,750.00. Following the transaction, the director now owns 191,853 shares of the company’s stock, valued at $4,211,173.35. The disclosure for this purchase can be found here. 16.90% of the stock is owned by company insiders.

Institutional Trading of CECO Environmental

Several institutional investors and hedge funds have recently bought and sold shares of CECO. AJOVista LLC acquired a new stake in shares of CECO Environmental in the fourth quarter worth $57,000. Tower Research Capital LLC TRC boosted its holdings in CECO Environmental by 89.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $94,000 after purchasing an additional 2,195 shares during the last quarter. Kessler Investment Group LLC acquired a new stake in CECO Environmental during the 4th quarter worth about $125,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of CECO Environmental during the 4th quarter valued at about $159,000. Finally, Boston Partners acquired a new position in shares of CECO Environmental in the 3rd quarter valued at about $201,000. 68.08% of the stock is currently owned by institutional investors and hedge funds.

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.