Needham & Company LLC Issues Positive Forecast for CECO Environmental (NASDAQ:CECO) Stock Price

CECO Environmental (NASDAQ:CECO) had its price objective upped by Needham & Company LLC from $44.00 to $52.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

CECO has been the subject of a number of other reports. Citigroup reissued an “outperform” rating on shares of CECO Environmental in a research report on Wednesday, July 30th. Lake Street Capital reiterated a “buy” rating and set a $56.00 price target on shares of CECO Environmental in a report on Wednesday, July 30th. Northland Securities set a $51.00 price objective on shares of CECO Environmental in a research report on Wednesday, July 30th. Finally, HC Wainwright lifted their price objective on shares of CECO Environmental from $33.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $50.80.

CECO Environmental Stock Up 3.1%

Shares of NASDAQ CECO opened at $46.59 on Thursday. The stock has a market cap of $1.65 billion, a P/E ratio of 32.58, a PEG ratio of 2.63 and a beta of 1.39. The company has a current ratio of 1.34, a quick ratio of 1.13 and a debt-to-equity ratio of 0.78. CECO Environmental has a 12-month low of $17.57 and a 12-month high of $47.40. The business’s fifty day simple moving average is $35.65 and its 200-day simple moving average is $28.13.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, July 29th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. CECO Environmental had a return on equity of 10.00% and a net margin of 7.99%.The firm had revenue of $185.39 million during the quarter, compared to analysts’ expectations of $178.66 million. CECO Environmental has set its FY 2025 guidance at EPS. As a group, equities analysts predict that CECO Environmental will post 0.67 EPS for the current fiscal year.

Insider Buying and Selling at CECO Environmental

In other CECO Environmental news, Director Claudio A. Mannarino sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $41.51, for a total value of $830,200.00. Following the completion of the transaction, the director owned 77,589 shares in the company, valued at $3,220,719.39. This represents a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jason Dezwirek sold 70,000 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $42.75, for a total value of $2,992,500.00. Following the transaction, the director directly owned 230,000 shares in the company, valued at approximately $9,832,500. The trade was a 23.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 120,000 shares of company stock valued at $5,128,900. Company insiders own 18.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CECO. Voya Investment Management LLC increased its position in CECO Environmental by 6,409.3% during the fourth quarter. Voya Investment Management LLC now owns 645,853 shares of the company’s stock worth $19,524,000 after buying an additional 635,931 shares during the period. Granahan Investment Management LLC purchased a new position in shares of CECO Environmental during the first quarter worth approximately $7,237,000. Segall Bryant & Hamill LLC purchased a new position in shares of CECO Environmental during the second quarter worth approximately $7,394,000. Osterweis Capital Management Inc. acquired a new position in shares of CECO Environmental in the 2nd quarter valued at $7,175,000. Finally, Raymond James Financial Inc. purchased a new stake in CECO Environmental in the 4th quarter valued at $7,334,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

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.