CECO Environmental (NASDAQ:CECO) Given New $44.00 Price Target at Needham & Company LLC

Key Points

• Needham & Company LLC raised the price target for CECO Environmental from $34.00 to $44.00, indicating a potential upside of 9.05% from its current stock price.
• HC Wainwright also upgraded their target for CECO’s shares to $55.00, contributing to a solid consensus rating of "Buy" among five analysts.
• CECO Environmental reported a 39.9% year-over-year revenue increase in its latest quarterly earnings, with earnings per share matching consensus estimates at $0.10.

CECO Environmental (NASDAQ:CECO - Get Free Report) had its price objective raised by stock analysts at Needham & Company LLC from $34.00 to $44.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price target would suggest a potential downside of 0.72% from the stock's previous close.

Separately, HC Wainwright increased their target price on CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $49.20.

CECO Environmental Price Performance

Shares of CECO traded down $0.63 during mid-day trading on Tuesday, reaching $44.32. The company had a trading volume of 101,153 shares, compared to its average volume of 293,637. CECO Environmental has a twelve month low of $17.57 and a twelve month high of $44.97. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.34 and a quick ratio of 1.52. The company's 50-day moving average is $30.26 and its 200-day moving average is $26.52. The company has a market capitalization of $1.57 billion, a P/E ratio of 30.94, a P/E/G ratio of 3.04 and a beta of 1.33.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.24 earnings per share (EPS) 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 business had revenue of $185.39 million during the quarter, compared to analysts' expectations of $178.66 million. On average, equities analysts anticipate that CECO Environmental will post 0.67 EPS for the current year.

Institutional Investors Weigh In On CECO Environmental

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC increased its holdings in CECO Environmental by 224.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,445 shares of the company's stock valued at $41,000 after purchasing an additional 1,000 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in CECO Environmental during the 4th quarter valued at $56,000. Heck Capital Advisors LLC acquired a new stake in CECO Environmental during the 4th quarter valued at $74,000. KLP Kapitalforvaltning AS acquired a new stake in CECO Environmental during the 4th quarter valued at $218,000. Finally, Caption Management LLC acquired a new stake in CECO Environmental during the 1st quarter valued at $182,000. 68.08% of the stock is owned by institutional investors and hedge funds.

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.