Northland Capmk Research Analysts Reduce Earnings Estimates for CECO Environmental Corp. (NASDAQ:CECO)

CECO Environmental Corp. (NASDAQ:CECO) – Investment analysts at Northland Capmk decreased their Q2 2024 earnings per share estimates for shares of CECO Environmental in a research note issued to investors on Tuesday, April 30th. Northland Capmk analyst B. Brooks now anticipates that the company will earn $0.18 per share for the quarter, down from their previous estimate of $0.19. The consensus estimate for CECO Environmental’s current full-year earnings is $0.96 per share. Northland Capmk also issued estimates for CECO Environmental’s Q4 2024 earnings at $0.36 EPS, FY2024 earnings at $0.93 EPS and Q1 2025 earnings at $0.19 EPS.

A number of other equities analysts have also recently issued reports on the stock. Roth Mkm raised their target price on shares of CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Needham & Company LLC raised their target price on shares of CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. Craig Hallum raised their target price on shares of CECO Environmental from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday. Northland Securities raised their target price on shares of CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of CECO Environmental in a research note on Wednesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $27.40.

CECO Environmental Stock Performance

Shares of CECO stock opened at $22.00 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 1.38. CECO Environmental has a one year low of $10.68 and a one year high of $25.82. The company’s 50-day simple moving average is $22.62 and its 200-day simple moving average is $20.33. The stock has a market capitalization of $767.14 million, a price-to-earnings ratio of 62.86, a PEG ratio of 1.50 and a beta of 1.24.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share 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 company had revenue of $126.30 million during the quarter, compared to the consensus estimate of $135.82 million. During the same period last year, the firm earned $0.10 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis.

Insider Buying and Selling at CECO Environmental

In related news, Director Laurie Siegel purchased 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 of the company’s stock, valued at $157,092.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CECO Environmental

A number of large investors have recently bought and sold shares of CECO. AJOVista LLC acquired a new position in CECO Environmental during the 4th quarter worth $57,000. Tower Research Capital LLC TRC raised its position in shares of CECO Environmental by 89.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $94,000 after buying an additional 2,195 shares during the last quarter. Kessler Investment Group LLC acquired a new position in shares of CECO Environmental during the fourth quarter valued at about $125,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of CECO Environmental during the fourth quarter valued at about $159,000. Finally, Boston Partners acquired a new position in shares of CECO Environmental during the third quarter valued at about $201,000. 68.08% of the stock is currently owned by institutional investors.

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.