CECO Environmental (NASDAQ:CECO) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Key Points

• Needham & Company LLC has raised its price target for CECO Environmental (NASDAQ:CECO) from $44.00 to $52.00, indicating a potential upside of 15.02% from its current stock price.
• CECO Environmental recently reported earnings of $0.24 per share, exceeding analysts' expectations of $0.20, with revenues of $185.39 million compared to estimates of $178.66 million.
• Insider trading activity shows substantial sales, with Director Claudio A. Mannarino selling 20,000 shares and Jason Dezwirek selling 70,000 shares, representing significant decreases in their positions.

CECO Environmental (NASDAQ:CECO - Get Free Report) had its target price hoisted by equities researchers at Needham & Company LLC from $44.00 to $52.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price objective suggests a potential upside of 15.02% from the company's current price.

CECO has been the subject of a number of other reports. Lake Street Capital restated a "buy" rating and set a $56.00 price target on shares of CECO Environmental in a research note on Wednesday, July 30th. Northland Securities set a $51.00 price objective on CECO Environmental in a research note on Wednesday, July 30th. HC Wainwright boosted their price objective on CECO Environmental from $33.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Finally, Citigroup reissued an "outperform" rating on shares of CECO Environmental in a report on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $50.80.

CECO Environmental Price Performance

Shares of NASDAQ:CECO opened at $45.21 on Thursday. CECO Environmental has a fifty-two week low of $17.57 and a fifty-two week high of $47.40. The business has a 50-day simple moving average of $35.28 and a two-hundred day simple moving average of $28.00. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.13 and a current ratio of 1.34. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 2.60 and a beta of 1.39.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its 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 business had revenue of $185.39 million during the quarter, compared to analyst estimates of $178.66 million. CECO Environmental has set its FY 2025 guidance at EPS. On average, analysts expect that CECO Environmental will post 0.67 earnings per share for the current year.

Insider Activity at CECO Environmental

In other news, Director Claudio A. Mannarino sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $41.51, for a total transaction of $830,200.00. Following the transaction, the director owned 77,589 shares of the company's stock, valued at approximately $3,220,719.39. The trade was a 20.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jason Dezwirek sold 70,000 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $42.75, for a total value of $2,992,500.00. Following the completion of the transaction, the director directly owned 230,000 shares in the company, valued at $9,832,500. This trade represents a 23.33% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 120,000 shares of company stock worth $5,128,900. Corporate insiders own 18.40% of the company's stock.

Institutional Investors Weigh In On CECO Environmental

Several hedge funds have recently made changes to their positions in the company. Hood River Capital Management LLC lifted its holdings in shares of CECO Environmental by 0.7% in the 2nd quarter. Hood River Capital Management LLC now owns 1,941,741 shares of the company's stock worth $54,971,000 after buying an additional 14,073 shares during the period. King Luther Capital Management Corp raised its stake in CECO Environmental by 4.6% in the second quarter. King Luther Capital Management Corp now owns 1,177,461 shares of the company's stock valued at $33,334,000 after buying an additional 51,357 shares during the last quarter. William Blair Investment Management LLC increased its holdings in CECO Environmental by 4.9% in the 2nd quarter. William Blair Investment Management LLC now owns 945,897 shares of the company's stock worth $26,778,000 after buying an additional 44,310 shares during the period. Royce & Associates LP raised its position in CECO Environmental by 3.3% during the 1st quarter. Royce & Associates LP now owns 945,002 shares of the company's stock worth $21,546,000 after buying an additional 29,790 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in CECO Environmental by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 712,331 shares of the company's stock worth $20,168,000 after buying an additional 18,501 shares during the last quarter. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

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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