CECO Environmental’s (CECO) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of CECO Environmental (NASDAQ:CECO) in a research note released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $80.00 target price on the stock.

A number of other brokerages also recently commented on CECO. Roth Mkm lifted their price objective on CECO Environmental from $58.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Weiss Ratings cut CECO Environmental from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, March 4th. Northland Securities raised their target price on CECO Environmental from $60.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 24th. Lake Street Capital reiterated a “buy” rating and set a $80.00 price target on shares of CECO Environmental in a report on Wednesday, February 25th. Finally, HC Wainwright boosted their price target on shares of CECO Environmental from $55.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.20.

CECO Environmental Stock Down 1.6%

Shares of NASDAQ CECO opened at $61.09 on Thursday. The stock has a market cap of $2.18 billion, a PE ratio of 44.92 and a beta of 1.39. The company has a current ratio of 1.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.65. CECO Environmental has a 12-month low of $17.57 and a 12-month high of $81.72. The company has a 50-day moving average of $65.41 and a 200 day moving average of $57.81.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, February 24th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.35). The business had revenue of $214.69 million during the quarter, compared to analysts’ expectations of $205.39 million. CECO Environmental had a return on equity of 10.60% and a net margin of 6.46%.The company’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same period last year, the business earned $0.27 earnings per share. As a group, sell-side analysts predict that CECO Environmental will post 0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On CECO Environmental

A number of hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its stake in shares of CECO Environmental by 165.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,283 shares of the company’s stock valued at $77,000 after acquiring an additional 800 shares during the period. T. Rowe Price Investment Management Inc. raised its position in CECO Environmental by 104.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 718,992 shares of the company’s stock valued at $43,032,000 after purchasing an additional 366,611 shares during the period. Invesco Ltd. raised its position in CECO Environmental by 217.1% in the fourth quarter. Invesco Ltd. now owns 135,511 shares of the company’s stock valued at $8,110,000 after purchasing an additional 92,772 shares during the period. Tudor Investment Corp ET AL acquired a new position in CECO Environmental during the fourth quarter worth $6,261,000. Finally, Twinbeech Capital LP purchased a new position in shares of CECO Environmental during the fourth quarter worth $772,000. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

About CECO Environmental

CECO Environmental Corp. (NASDAQ: CECO) is a global technology provider specializing in engineered solutions that help industrial and commercial customers manage air emissions, process fluids and optimize energy use. The company develops custom-engineered systems and modular packages designed to meet evolving environmental regulations and improve operational efficiency across diverse production processes.

CECO’s core offerings include air pollution control equipment—such as scrubbers, cyclones, fabric and cartridge filters—and industrial process filtration systems for applications ranging from particulate removal to oil-water separation.