CECO Environmental (NASDAQ:CECO) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

CECO Environmental (NASDAQ:CECO) had its target price decreased by JPMorgan Chase & Co. from $130.00 to $110.00 in a report issued on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the stock. TD Cowen assumed coverage on shares of CECO Environmental in a research note on Wednesday, August 5th. They set a “buy” rating and a $85.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $110.00 price target on shares of CECO Environmental in a research note on Tuesday, August 11th. Weiss Ratings downgraded CECO Environmental from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, September 16th. Northland Securities set a $125.00 price objective on CECO Environmental in a report on Thursday, August 13th. Finally, Zacks Research lowered CECO Environmental from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $102.38.

CECO Environmental Stock Down 3.0%

CECO opened at $60.54 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.50 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average price of $72.17 and a 200-day moving average price of $75.97. CECO Environmental has a twelve month low of $42.82 and a twelve month high of $101.24. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of -87.74 and a beta of 1.50.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. CECO Environmental had a negative net margin of 3.39% and a positive return on equity of 7.36%. The company had revenue of $284.96 million for the quarter, compared to the consensus estimate of $282.21 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 53.7% compared to the same quarter last year. Equities research analysts forecast that CECO Environmental will post 2.43 earnings per share for the current year.

Hedge Funds Weigh In On CECO Environmental

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in CECO Environmental during the second quarter valued at approximately $392,358,000. Jupiter Topco LLC bought a new position in CECO Environmental in the second quarter worth approximately $86,194,000. Dimensional Fund Advisors LP raised its position in CECO Environmental by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 903,291 shares of the company’s stock worth $53,813,000 after acquiring an additional 7,751 shares during the period. Legal & General Group Plc purchased a new position in shares of CECO Environmental during the 2nd quarter worth $40,461,000. Finally, Emerald Advisers LLC boosted its stake in shares of CECO Environmental by 14.1% during the 1st quarter. Emerald Advisers LLC now owns 523,017 shares of the company’s stock worth $31,161,000 after acquiring an additional 64,492 shares during the last quarter. Hedge funds and other institutional investors own 68.08% of the company’s stock.

About CECO Environmental

CECO Environmental Corp. (NASDAQ: CECO) is an environmental technology company that provides engineered solutions for industrial air quality, fluid handling, and water and wastewater treatment. Its systems are designed to help customers control emissions, improve process efficiency, protect workers, and comply with environmental regulations.

The company offers products and services including air pollution control equipment, industrial ventilation systems, filtration and separation technologies, thermal processing solutions, pumps and other fluid-handling equipment, and water and wastewater treatment systems.