CECO Environmental (TXSE:CECO) Price Target Raised to $120.00

CECO Environmental (TXSE:CECO) had its price target raised by JPMorgan Chase & Co. from $110.00 to $120.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also issued reports on the company. Weiss Ratings lowered CECO Environmental from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, September 16th. TD Cowen started coverage on CECO Environmental in a research note on Wednesday, August 5th. They issued a “buy” rating and a $85.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price target on shares of CECO Environmental in a research report on Tuesday, August 11th. Northland Securities set a $125.00 price objective on CECO Environmental in a research note on Thursday, August 13th. Finally, Zacks Research raised CECO Environmental from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.62.

CECO Environmental Stock Up 4.7%

CECO stock opened at $56.00 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.50 and a quick ratio of 1.18. The stock has a market capitalization of $3.28 billion, a P/E ratio of -81.16 and a beta of 1.63. CECO Environmental has a fifty-two week low of $37.15 and a fifty-two week high of $101.24. The business has a 50-day moving average of $63.37 and a 200-day moving average of $70.98.

CECO Environmental (TXSE:CECO) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). CECO Environmental had a positive return on equity of 7.36% and a negative net margin of 3.39%. The business had revenue of $404.43 million during the quarter, compared to the consensus estimate of $397.96 million. During the same period in the prior year, the firm earned $0.04 EPS. On average, sell-side analysts anticipate that CECO Environmental will post 2.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CECO Environmental

Several hedge funds have recently bought and sold shares of CECO. GAMMA Investing LLC raised its stake in CECO Environmental by 71.6% in the second quarter. GAMMA Investing LLC now owns 369 shares of the company’s stock valued at $33,000 after buying an additional 154 shares during the period. Allworth Financial LP lifted its position in shares of CECO Environmental by 98.1% in the second quarter. Allworth Financial LP now owns 317 shares of the company’s stock valued at $29,000 after buying an additional 157 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of CECO Environmental by 23.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,644 shares of the company’s stock worth $114,000 after acquiring an additional 308 shares during the period. Ethic Inc. boosted its stake in shares of CECO Environmental by 18.5% during the 3rd quarter. Ethic Inc. now owns 3,490 shares of the company’s stock worth $243,000 after acquiring an additional 545 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of CECO Environmental by 29.0% during the 3rd quarter. Fifth Third Bancorp now owns 2,546 shares of the company’s stock worth $177,000 after acquiring an additional 572 shares during the last quarter. 68.08% of the stock is currently owned by institutional investors and hedge funds.

About CECO Environmental

CECO Environmental Corp. (NASDAQ:CECO) is an industrial technology company that designs and supplies environmental and engineered equipment for industrial processes. Its solutions help customers control air pollution, manage industrial emissions, improve process efficiency and handle fluids in demanding operating environments. The company’s product and service offerings include air pollution control systems, industrial ventilation and filtration equipment, scrubbers, fans, dust collection systems, thermal and heat-transfer equipment, pumps and other fluid-handling technologies.