CECO Environmental (NASDAQ:CECO) Price Target Raised to $40.00

CECO Environmental (NASDAQ:CECO) had its price objective increased by Craig Hallum from $34.00 to $40.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Northland Securities lifted their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Needham & Company LLC dropped their price objective on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of CECO Environmental in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental presently has a consensus rating of “Buy” and an average target price of $36.20.

CECO Environmental Stock Down 1.2 %

CECO Environmental stock opened at $31.77 on Monday. The stock’s 50 day moving average price is $29.71 and its 200 day moving average price is $28.43. The company has a market cap of $1.11 billion, a PE ratio of 96.28, a price-to-earnings-growth ratio of 2.92 and a beta of 1.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. CECO Environmental has a 1-year low of $18.50 and a 1-year high of $35.16.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The company had revenue of $135.50 million for the quarter, compared to analyst estimates of $155.94 million. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, sell-side analysts predict that CECO Environmental will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CECO. Hood River Capital Management LLC acquired a new stake in CECO Environmental during the 2nd quarter valued at $15,495,000. Robeco Schweiz AG lifted its position in shares of CECO Environmental by 375.2% in the second quarter. Robeco Schweiz AG now owns 565,255 shares of the company’s stock valued at $16,308,000 after acquiring an additional 446,305 shares in the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of CECO Environmental during the second quarter valued at $11,857,000. Van ECK Associates Corp increased its position in CECO Environmental by 466.4% during the 3rd quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock worth $10,082,000 after purchasing an additional 312,803 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in CECO Environmental by 65.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 484,518 shares of the company’s stock valued at $13,663,000 after purchasing an additional 191,286 shares during the last quarter. 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.