CECO Environmental (NASDAQ:CECO) Given "Buy (B-)" Rating at Weiss Ratings

Key Points

• CECO Environmental's stock has been given a "Buy (B-)" rating by Weiss Ratings, with several analysts raising their price targets, including HC Wainwright increasing it to $55.00.
• The company's stock has shown significant performance, with a 2.0% increase during trading, reaching $52.03, and an average target price of $50.80 among analysts.
• Institutional investors hold 68.08% of CECO Environmental's stock, with recent acquisitions from multiple investment firms indicating strong institutional interest.

CECO Environmental (NASDAQ:CECO - Get Free Report)'s stock had its "buy (b-)" rating reiterated by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also recently issued reports on the stock. HC Wainwright upped their price objective on shares of CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Needham & Company LLC upped 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. Northland Securities set a $51.00 price objective on CECO Environmental in a research note on Wednesday, July 30th. Citigroup reaffirmed an "outperform" rating on shares of CECO Environmental in a research report on Wednesday, July 30th. Finally, Zacks Research lowered shares of CECO Environmental from a "hold" rating to a "strong sell" rating in a research report on Monday. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $50.80.

CECO Environmental Stock Up 2.0%

Shares of NASDAQ CECO traded up $1.04 during trading hours on Wednesday, hitting $52.03. The stock had a trading volume of 489,176 shares, compared to its average volume of 594,004. The firm's 50-day moving average price is $47.51 and its two-hundred day moving average price is $33.65. CECO Environmental has a 52 week low of $17.57 and a 52 week high of $53.88. The company has a market capitalization of $1.84 billion, a P/E ratio of 67.99, a P/E/G ratio of 3.43 and a beta of 1.28. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.13 and a current ratio of 1.34.

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

Insider Activity at CECO Environmental

In related news, Director Claudio A. Mannarino sold 20,000 shares of CECO Environmental stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $41.51, for a total transaction of $830,200.00. Following the sale, the director directly owned 77,589 shares of the company's stock, valued at $3,220,719.39. This trade represents a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard F. Wallman bought 3,000 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were purchased at an average cost of $46.93 per share, for a total transaction of $140,790.00. Following the completion of the transaction, the director owned 80,500 shares of the company's stock, valued at $3,777,865. This represents a 3.87% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 7,500 shares of company stock valued at $339,915 and have sold 420,000 shares valued at $20,233,754. Insiders own 18.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Granahan Investment Management LLC bought a new position in CECO Environmental in the 1st quarter worth approximately $7,237,000. Segall Bryant & Hamill LLC acquired a new position in shares of CECO Environmental in the 2nd quarter valued at $7,394,000. Osterweis Capital Management Inc. bought a new stake in shares of CECO Environmental in the 2nd quarter valued at $7,175,000. Wellington Management Group LLP increased its position in shares of CECO Environmental by 74.6% in the 1st quarter. Wellington Management Group LLP now owns 541,980 shares of the company's stock valued at $12,357,000 after buying an additional 231,613 shares in the last quarter. Finally, CSM Advisors LLC bought a new stake in shares of CECO Environmental in the 2nd quarter valued at $5,248,000. Institutional investors 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.

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