Brokerages Set CECO Environmental Corp. (NASDAQ:CECO) Price Target at $47.50

Key Points

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Shares of CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) have received an average rating of "Buy" from the six analysts that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $49.20.

Several equities analysts recently weighed in on the company. Lake Street Capital reaffirmed a "buy" rating and issued a $56.00 price objective on shares of CECO Environmental in a research note on Wednesday. Citigroup reissued an "outperform" rating on shares of CECO Environmental in a research report on Wednesday. HC Wainwright raised their price target on CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Needham & Company LLC raised their price target on CECO Environmental from $34.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, Northland Securities set a $51.00 price target on CECO Environmental in a research report on Wednesday.

CECO Environmental Price Performance

Shares of CECO traded up $0.07 during mid-day trading on Thursday, hitting $45.20. The company's stock had a trading volume of 50,702 shares, compared to its average volume of 297,489. CECO Environmental has a 1-year low of $17.57 and a 1-year high of $46.06. The firm has a market capitalization of $1.60 billion, a P/E ratio of 31.74, a P/E/G ratio of 2.63 and a beta of 1.39. The firm has a 50-day simple moving average of $30.62 and a 200 day simple moving average of $26.55. 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 released its quarterly earnings data on Tuesday, July 29th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. CECO Environmental had a return on equity of 10.00% and a net margin of 7.99%. The firm had revenue of $185.39 million during the quarter, compared to the consensus estimate of $178.66 million. Analysts predict that CECO Environmental will post 0.67 EPS for the current fiscal year.

Insider Buying and Selling at CECO Environmental

In related news, Director Claudio A. Mannarino sold 20,000 shares of CECO Environmental stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $41.51, for a total value of $830,200.00. Following the transaction, the director owned 77,589 shares in the company, valued at approximately $3,220,719.39. This trade represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jason Dezwirek sold 30,000 shares of CECO Environmental stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $43.54, for a total value of $1,306,200.00. Following the completion of the transaction, the director owned 200,000 shares in the company, valued at $8,708,000. The trade was a 13.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 120,000 shares of company stock worth $5,128,900 in the last 90 days. Insiders own 16.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in CECO Environmental by 224.7% in the second quarter. Farther Finance Advisors LLC now owns 1,445 shares of the company's stock valued at $41,000 after acquiring an additional 1,000 shares during the last quarter. Mackenzie Financial Corp acquired a new position in CECO Environmental in the fourth quarter valued at $56,000. Heck Capital Advisors LLC acquired a new position in CECO Environmental in the fourth quarter valued at $74,000. Caption Management LLC acquired a new position in CECO Environmental in the first quarter valued at $182,000. Finally, XTX Topco Ltd acquired a new position in shares of CECO Environmental during the first quarter worth about $217,000. Institutional investors and hedge funds own 68.08% of the company's stock.

CECO Environmental Company Profile

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.