CECO Environmental (NASDAQ:CECO) Price Target Raised to $26.00

CECO Environmental (NASDAQ:CECO) had its price objective upped by Needham & Company LLC from $23.00 to $26.00 in a research report released on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. Roth Mkm upped their target price on shares of CECO Environmental from $22.00 to $25.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. HC Wainwright lifted their price target on CECO Environmental from $22.00 to $30.00 and gave the stock a buy rating in a report on Wednesday, March 6th. Finally, Northland Securities upped their price objective on CECO Environmental from $27.00 to $28.00 and gave the stock an outperform rating in a research report on Wednesday, March 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $27.40.

CECO Environmental Price Performance

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. CECO Environmental has a 52-week low of $10.68 and a 52-week high of $25.82. The firm has a market cap 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. The company’s 50 day moving average is $22.70 and its two-hundred day moving average is $20.36.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. The business had revenue of $126.30 million for the quarter, compared to analysts’ expectations of $135.82 million. During the same period last year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, research analysts expect that CECO Environmental will post 0.94 EPS for the current fiscal year.

Insider Activity at CECO Environmental

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CECO. Essex Investment Management Co. LLC grew its holdings in shares of CECO Environmental by 1.6% during the first quarter. Essex Investment Management Co. LLC now owns 205,982 shares of the company’s stock worth $4,742,000 after buying an additional 3,147 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of CECO Environmental by 247.5% during the first quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock worth $1,025,000 after purchasing an additional 31,707 shares during the last quarter. Precision Wealth Strategies LLC acquired a new stake in shares of CECO Environmental during the first quarter worth $255,000. Principal Financial Group Inc. purchased a new position in CECO Environmental in the 1st quarter valued at $379,000. Finally, Robeco Schweiz AG acquired a new position in CECO Environmental in the 1st quarter valued at $2,738,000. 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.