CECO Environmental Corp. (NASDAQ:CECO) Given Consensus Recommendation of “Buy” by Analysts

CECO Environmental Corp. (NASDAQ:CECO) has earned a consensus rating of “Buy” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $34.80.

Several equities research analysts have commented on CECO shares. Needham & Company LLC boosted their price objective on CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Roth Mkm increased their price objective on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Craig Hallum raised their price objective on CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. HC Wainwright upped their target price on shares of 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 raised their price target on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st.

CECO Environmental Stock Performance

Shares of CECO stock opened at $28.95 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. CECO Environmental has a 12-month low of $13.13 and a 12-month high of $31.55. The business’s 50 day moving average is $28.34 and its two-hundred day moving average is $25.07. The company has a market capitalization of $1.01 billion, a P/E ratio of 82.71, a P/E/G ratio of 2.08 and a beta of 1.37.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.16 by $0.04. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The company had revenue of $137.50 million during the quarter, compared to analyst estimates of $143.33 million. During the same quarter in the previous year, the firm earned $0.15 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. Analysts expect that CECO Environmental will post 0.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC increased its position 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 purchasing an additional 708 shares during the last quarter. AJOVista LLC purchased a new position in shares of CECO Environmental during the 4th quarter worth approximately $57,000. EntryPoint Capital LLC purchased a new stake in CECO Environmental in the first quarter valued at approximately $72,000. Kessler Investment Group LLC purchased a new position in shares of CECO Environmental during the fourth quarter worth $125,000. Finally, SG Americas Securities LLC acquired a new stake in shares of CECO Environmental in the second quarter valued at $201,000. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

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.