Needham & Company LLC Raises CECO Environmental (NASDAQ:CECO) Price Target to $34.00

CECO Environmental (NASDAQ:CECO) had its price target boosted by Needham & Company LLC from $33.00 to $34.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 39.29% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Craig Hallum increased their price target on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 6th. HC Wainwright upgraded CECO Environmental from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Wednesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $36.00.

CECO Environmental Stock Up 2.6 %

Shares of NASDAQ:CECO opened at $24.41 on Wednesday. The company has a market capitalization of $859.65 million, a price-to-earnings ratio of 73.97, a price-to-earnings-growth ratio of 1.39 and a beta of 1.30. The company has a 50 day moving average of $22.17 and a two-hundred day moving average of $26.43. CECO Environmental has a 52-week low of $17.57 and a 52-week high of $35.16. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $176.70 million during the quarter, compared to analyst estimates of $151.53 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. CECO Environmental’s revenue was up 39.9% on a year-over-year basis. As a group, analysts forecast that CECO Environmental will post 0.67 earnings per share for the current fiscal year.

Insider Transactions at CECO Environmental

In other CECO Environmental news, insider Peter K. Johansson sold 22,500 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $22.80, for a total transaction of $513,000.00. Following the transaction, the insider now owns 62,160 shares of the company’s stock, valued at approximately $1,417,248. This trade represents a 26.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard F. Wallman acquired 1,000 shares of the stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average cost of $25.15 per share, for a total transaction of $25,150.00. Following the purchase, the director now directly owns 207,117 shares in the company, valued at approximately $5,208,992.55. The trade was a 0.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 18.40% of the company’s stock.

Institutional Investors Weigh In On CECO Environmental

A number of large investors have recently bought and sold shares of CECO. Bank of New York Mellon Corp increased its holdings in shares of CECO Environmental by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 91,350 shares of the company’s stock valued at $2,083,000 after acquiring an additional 1,687 shares during the last quarter. Peregrine Capital Management LLC raised its position in shares of CECO Environmental by 15.8% in the first quarter. Peregrine Capital Management LLC now owns 240,552 shares of the company’s stock valued at $5,485,000 after purchasing an additional 32,893 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of CECO Environmental by 5.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 442,969 shares of the company’s stock worth $10,100,000 after buying an additional 22,981 shares during the last quarter. North Star Investment Management Corp. bought a new stake in shares of CECO Environmental during the 1st quarter worth $1,003,000. Finally, Harbor Capital Advisors Inc. acquired a new position in CECO Environmental in the 1st quarter valued at $1,519,000. 68.08% of the stock is currently owned by 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.