Analysts Set CECO Environmental Corp. (NASDAQ:CECO) Target Price at $27.25

CECO Environmental Corp. (NASDAQ:CECO) has been assigned a consensus recommendation of “Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $27.40.

A number of equities analysts have commented on CECO shares. Roth Mkm upped their price objective on shares of CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of CECO Environmental in a research report on Wednesday, May 1st. Needham & Company LLC boosted their target price on CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Northland Securities increased their target price on CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Finally, Craig Hallum lifted their price target on CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st.

CECO Environmental Price Performance

Shares of CECO opened at $23.52 on Wednesday. The company has a market capitalization of $821.69 million, a price-to-earnings ratio of 67.20, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24. CECO Environmental has a fifty-two week low of $10.68 and a fifty-two week high of $25.82. The firm has a 50-day simple moving average of $22.80 and a 200-day simple moving average of $20.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.19 and a current ratio of 1.38.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $135.82 million. During the same period last year, the firm earned $0.10 EPS. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, equities research analysts anticipate that CECO Environmental will post 0.94 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On CECO Environmental

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in CECO Environmental by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,440,579 shares of the company’s stock valued at $23,006,000 after purchasing an additional 13,747 shares during the last quarter. RK Capital Management LLC raised its position in shares of CECO Environmental by 36.6% in the third quarter. RK Capital Management LLC now owns 884,347 shares of the company’s stock valued at $14,123,000 after buying an additional 237,093 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of CECO Environmental by 271.2% during the third quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock valued at $10,047,000 after buying an additional 459,646 shares during the period. First Eagle Investment Management LLC boosted its position in CECO Environmental by 9.7% during the fourth quarter. First Eagle Investment Management LLC now owns 483,364 shares of the company’s stock worth $9,803,000 after acquiring an additional 42,731 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in CECO Environmental by 28.3% during the fourth quarter. Russell Investments Group Ltd. now owns 448,248 shares of the company’s stock worth $9,090,000 after acquiring an additional 98,951 shares during the last quarter. 68.08% of the stock is 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.