CECO Environmental Corp. (NASDAQ:CECO) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

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Shares of CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) have received a consensus rating of "Buy" from the six research firms that are presently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $47.50.

Several research analysts recently weighed in on CECO shares. HC Wainwright increased their target price on CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday. Northland Securities set a $51.00 target price on CECO Environmental in a research report on Wednesday. Lake Street Capital reaffirmed a "buy" rating and issued a $56.00 target price on shares of CECO Environmental in a research report on Wednesday. Needham & Company LLC increased their price target on CECO Environmental from $34.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Citigroup restated an "outperform" rating on shares of CECO Environmental in a research note on Wednesday.

Institutional Investors Weigh In On CECO Environmental

A number of hedge funds have recently made changes to their positions in the business. Capital International Investors raised its holdings in shares of CECO Environmental by 12.1% during the fourth quarter. Capital International Investors now owns 1,971,334 shares of the company's stock valued at $59,593,000 after buying an additional 212,476 shares during the last quarter. Hood River Capital Management LLC raised its holdings in CECO Environmental by 63.0% during the fourth quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company's stock worth $52,623,000 after purchasing an additional 673,050 shares in the last quarter. Vanguard Group Inc. raised its holdings in CECO Environmental by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 1,648,674 shares of the company's stock worth $49,839,000 after purchasing an additional 9,023 shares in the last quarter. King Luther Capital Management Corp raised its holdings in CECO Environmental by 8.9% during the first quarter. King Luther Capital Management Corp now owns 1,126,104 shares of the company's stock worth $25,675,000 after purchasing an additional 92,315 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in CECO Environmental by 4.9% during the second quarter. William Blair Investment Management LLC now owns 945,897 shares of the company's stock worth $26,778,000 after purchasing an additional 44,310 shares in the last quarter. Institutional investors own 68.08% of the company's stock.

CECO Environmental Price Performance

NASDAQ:CECO traded up $0.59 during trading hours on Thursday, reaching $44.12. 218,876 shares of the company traded hands, compared to its average volume of 291,230. CECO Environmental has a 1-year low of $17.57 and a 1-year high of $44.38. The stock has a market cap of $1.56 billion, a P/E ratio of 30.56, a P/E/G ratio of 2.79 and a beta of 1.33. The firm's 50-day moving average is $29.91 and its 200-day moving average is $26.43. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.34 and a quick ratio of 1.52.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.24 earnings per share for the quarter, topping 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 company had revenue of $185.39 million for the quarter, compared to analyst estimates of $178.66 million. Equities research analysts expect that CECO Environmental will post 0.67 earnings per share for the current fiscal year.

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.

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