CECO Environmental (NASDAQ:CECO) Stock Rating Lowered by Zacks Research

CECO Environmental (NASDAQ:CECO) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research analysts have also issued reports on CECO. JPMorgan Chase & Co. assumed coverage on shares of CECO Environmental in a report on Thursday, July 9th. They issued an “overweight” rating and a $130.00 price objective for the company. Craig Hallum reissued a “buy” rating and set a $103.00 target price on shares of CECO Environmental in a report on Tuesday, April 28th. Weiss Ratings downgraded shares of CECO Environmental from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, July 29th. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price target on shares of CECO Environmental in a report on Tuesday. Finally, Roth Capital reissued a “buy” rating and issued a $85.00 price objective on shares of CECO Environmental in a research note on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $104.00.

CECO Environmental Stock Performance

Shares of CECO Environmental stock opened at $75.83 on Tuesday. The company’s 50 day moving average price is $82.40 and its two-hundred day moving average price is $73.71. The firm has a market capitalization of $2.72 billion, a P/E ratio of -109.90 and a beta of 1.51. CECO Environmental has a fifty-two week low of $42.78 and a fifty-two week high of $101.24. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.33 and a quick ratio of 1.18.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Monday, August 10th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.21. CECO Environmental had a positive return on equity of 17.56% and a negative net margin of 3.39%.The company had revenue of $284.96 million for the quarter, compared to the consensus estimate of $282.21 million. During the same quarter last year, the business posted $0.26 EPS. CECO Environmental’s revenue for the quarter was up 53.7% on a year-over-year basis. On average, equities analysts forecast that CECO Environmental will post 2.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard F. Wallman purchased 20,000 shares of CECO Environmental stock in a transaction dated Monday, June 1st. The stock was bought at an average cost of $76.85 per share, for a total transaction of $1,537,000.00. Following the completion of the transaction, the director owned 105,500 shares in the company, valued at $8,107,675. This trade represents a 23.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Peter K. Johansson sold 30,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $96.49, for a total value of $2,894,700.00. Following the sale, the chief financial officer directly owned 40,746 shares in the company, valued at $3,931,581.54. This trade represents a 42.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 18.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of CECO Environmental in the second quarter worth approximately $392,358,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of CECO Environmental by 104.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 718,992 shares of the company’s stock worth $43,032,000 after buying an additional 366,611 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of CECO Environmental during the 2nd quarter worth $30,475,000. Capital World Investors purchased a new position in CECO Environmental in the fourth quarter worth $19,936,000. Finally, Two Sigma Investments LP increased its stake in CECO Environmental by 3,620.8% in the third quarter. Two Sigma Investments LP now owns 302,691 shares of the company’s stock valued at $15,498,000 after acquiring an additional 294,556 shares during the last quarter. 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.