CECO Environmental Corp. (NASDAQ:CECO) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• CECO Environmental Corp. has received a consensus rating of "Buy" from six research firms, with an average price target of $50.80 for the upcoming year.
• Insider trading revealed significant sales, with Director Claudio A. Mannarino and Director Jason Dezwirek selling shares worth $830,200 and $1,306,200 respectively, indicating a decrease in their ownership positions.
• CECO Environmental reported better-than-expected earnings of $0.24 per share for the last quarter, surpassing estimates of $0.20, with revenue of $185.39 million compared to expectations of $178.66 million.

Shares of CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) have earned a consensus rating of "Buy" from the six ratings firms that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have covered the stock in the last year is $50.80.

A number of research analysts have weighed in on the company. Northland Securities set a $51.00 price target on CECO Environmental in a research note on Wednesday, July 30th. Needham & Company LLC increased their price target on CECO Environmental from $44.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. HC Wainwright increased their price target on CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Citigroup reissued an "outperform" rating on shares of CECO Environmental in a research note on Wednesday, July 30th. Finally, Lake Street Capital reissued a "buy" rating and set a $56.00 price target on shares of CECO Environmental in a research note on Wednesday, July 30th.

CECO Environmental Price Performance

Shares of CECO stock traded down $2.26 during mid-day trading on Friday, reaching $48.89. The stock had a trading volume of 1,728,660 shares, compared to its average volume of 483,216. CECO Environmental has a 12-month low of $17.57 and a 12-month high of $52.46. The company has a market cap of $1.73 billion, a P/E ratio of 34.19, a price-to-earnings-growth ratio of 2.98 and a beta of 1.32. The business has a 50-day simple moving average of $43.26 and a 200 day simple moving average of $31.34. The company has a current ratio of 1.34, a quick ratio of 1.13 and a debt-to-equity ratio of 0.78.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.04. CECO Environmental had a return on equity of 10.00% and a net margin of 7.99%.The business had revenue of $185.39 million during the quarter, compared to analysts' expectations of $178.66 million. CECO Environmental has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that CECO Environmental will post 0.67 earnings per share for the current year.

Insider Activity at CECO Environmental

In other news, Director Jason Dezwirek sold 30,000 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $43.54, for a total transaction of $1,306,200.00. Following the transaction, the director owned 200,000 shares of the company's stock, valued at approximately $8,708,000. This trade represents a 13.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard F. Wallman bought 3,000 shares of the business's stock in a transaction on Friday, September 5th. The stock was acquired at an average cost of $46.93 per share, for a total transaction of $140,790.00. Following the acquisition, the director directly owned 80,500 shares of the company's stock, valued at $3,777,865. The trade was a 3.87% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 7,500 shares of company stock worth $339,915 and sold 120,000 shares worth $5,128,900. 18.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Hood River Capital Management LLC boosted its stake in CECO Environmental by 0.7% in the 2nd quarter. Hood River Capital Management LLC now owns 1,941,741 shares of the company's stock worth $54,971,000 after purchasing an additional 14,073 shares during the period. King Luther Capital Management Corp lifted its stake in shares of CECO Environmental by 4.6% in the 2nd quarter. King Luther Capital Management Corp now owns 1,177,461 shares of the company's stock valued at $33,334,000 after purchasing an additional 51,357 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of CECO Environmental by 4.9% in the 2nd quarter. William Blair Investment Management LLC now owns 945,897 shares of the company's stock valued at $26,778,000 after purchasing an additional 44,310 shares during the last quarter. Royce & Associates LP lifted its stake in shares of CECO Environmental by 3.3% in the 1st quarter. Royce & Associates LP now owns 945,002 shares of the company's stock valued at $21,546,000 after purchasing an additional 29,790 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in CECO Environmental by 2.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 757,433 shares of the company's stock worth $21,443,000 after acquiring an additional 15,176 shares during the last quarter. Institutional investors and hedge funds own 68.08% of the company's stock.

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.