CECO Environmental (NASDAQ:CECO) Hits New 52-Week High - Time to Buy?

Key Points

• Shares hit a new 52-week high — CECO traded as high as $88.24 (last $87.78) on heavy volume (~1.7M shares), up from the prior close of $78.17.
• Quarterly results beat expectations — the company reported $0.36 EPS versus $0.12 expected and revenue of $205.9M, up 16.5% year-over-year.
• Analysts and institutions are bullish — consensus rating is "Buy" with an average price target of ~$86.83 and several firms lifting targets to ~$90, while institutional ownership is about 68% with large recent inflows.

Shares of CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $88.24 and last traded at $87.78, with a volume of 1706697 shares. The stock had previously closed at $78.17.

Analyst Ratings Changes

Several brokerages have issued reports on CECO. Lake Street Capital reissued a "buy" rating and issued a $80.00 target price on shares of CECO Environmental in a research report on Wednesday, February 25th. HC Wainwright raised their price objective on shares of CECO Environmental from $55.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Weiss Ratings raised shares of CECO Environmental from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, April 24th. Needham & Company LLC increased their price target on shares of CECO Environmental from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Finally, Roth Mkm reissued a "buy" rating and set a $85.00 price objective on shares of CECO Environmental in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $86.83.

CECO Environmental Stock Performance

The company has a quick ratio of 1.18, a current ratio of 1.33 and a debt-to-equity ratio of 0.78. The business has a 50 day moving average price of $61.88 and a two-hundred day moving average price of $60.76. The stock has a market cap of $3.15 billion, a P/E ratio of 237.24 and a beta of 1.53.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.24. CECO Environmental had a return on equity of 13.69% and a net margin of 1.70%.The company had revenue of $205.92 million for the quarter, compared to analysts' expectations of $198.88 million. During the same period in the previous year, the firm earned $0.10 EPS. The firm's revenue was up 16.5% compared to the same quarter last year. On average, sell-side analysts forecast that CECO Environmental Corp. will post 1.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CECO Environmental

Hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. increased its holdings in CECO Environmental by 16,844.6% in the 3rd quarter. American Century Companies Inc. now owns 1,257,796 shares of the company's stock valued at $64,399,000 after acquiring an additional 1,250,373 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of CECO Environmental by 104.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 718,992 shares of the company's stock valued at $43,032,000 after purchasing an additional 366,611 shares during the last quarter. Capital World Investors bought a new position in shares of CECO Environmental during the 4th quarter valued at about $19,936,000. Two Sigma Investments LP grew its position in shares of CECO Environmental by 3,620.8% during the third quarter. Two Sigma Investments LP now owns 302,691 shares of the company's stock valued at $15,498,000 after purchasing an additional 294,556 shares in the last quarter. Finally, IES Holdings Inc. purchased a new position in shares of CECO Environmental during the fourth quarter valued at about $16,963,000. Institutional investors own 68.08% of the company's stock.

CECO Environmental Company Profile

CECO Environmental Corp. NASDAQ: CECO is a global technology provider specializing in engineered solutions that help industrial and commercial customers manage air emissions, process fluids and optimize energy use. The company develops custom-engineered systems and modular packages designed to meet evolving environmental regulations and improve operational efficiency across diverse production processes.

CECO's core offerings include air pollution control equipment—such as scrubbers, cyclones, fabric and cartridge filters—and industrial process filtration systems for applications ranging from particulate removal to oil-water separation.

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