CECO Environmental Corp. (NASDAQ:CECO) Stock Has Consensus Price Target of $104.88

Key Points

• CECO Environmental has a “Moderate Buy” consensus rating from 10 analysts, with eight buys, one hold, and one sell. The average 12-month price target is $104.88, well above the stock’s recent price of $72.26.
• The company exceeded quarterly expectations, reporting $0.47 in EPS versus the $0.26 consensus and $284.96 million in revenue, up 53.7% year over year. Analysts expect full-year EPS of approximately $2.43.
• Institutional ownership stands at 68.08%, with major investors including BlackRock, Jupiter Topco, Dimensional Fund Advisors, and Legal & General establishing or increasing positions.

Shares of CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $104.88.

A number of analysts have weighed in on CECO shares. Lake Street Capital increased their target price on shares of CECO Environmental from $80.00 to $111.00 and gave the company a "buy" rating in a research report on Wednesday, June 10th. Northland Securities set a $125.00 price target on shares of CECO Environmental in a research report on Thursday, August 13th. Zacks Research lowered shares of CECO Environmental from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. assumed coverage on shares of CECO Environmental in a research report on Thursday, July 9th. They set an "overweight" rating and a $130.00 price objective for the company. Finally, Weiss Ratings downgraded shares of CECO Environmental from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, September 16th.

CECO Environmental Trading Down 1.7%

NASDAQ CECO opened at $72.26 on Tuesday. The firm has a market capitalization of $4.23 billion, a PE ratio of -104.72 and a beta of 1.51. The business's 50-day moving average price is $72.86 and its two-hundred day moving average price is $74.98. The company has a current ratio of 1.50, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. CECO Environmental has a 12 month low of $42.82 and a 12 month high of $101.24.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.21. The company had revenue of $284.96 million during the quarter, compared to the consensus estimate of $282.21 million. CECO Environmental had a positive return on equity of 7.36% and a negative net margin of 3.39%.The firm's revenue was up 53.7% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. On average, analysts expect that CECO Environmental will post 2.43 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CECO. BlackRock Inc. acquired a new stake in shares of CECO Environmental during the 2nd quarter worth approximately $392,358,000. Jupiter Topco LLC acquired a new position in shares of CECO Environmental during the 2nd quarter valued at $86,194,000. Dimensional Fund Advisors LP lifted its position in shares of CECO Environmental by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 903,291 shares of the company's stock valued at $53,813,000 after acquiring an additional 7,751 shares during the period. Legal & General Group Plc bought a new position in CECO Environmental during the second quarter worth $40,461,000. Finally, Emerald Advisers LLC boosted its stake in CECO Environmental by 14.1% during the first quarter. Emerald Advisers LLC now owns 523,017 shares of the company's stock worth $31,161,000 after acquiring an additional 64,492 shares in the last quarter. 68.08% of the stock is owned by institutional investors.

CECO Environmental Company Profile

CECO Environmental Corp. NASDAQ: CECO is an environmental technology company that provides engineered solutions for industrial air quality, water and wastewater treatment, and related process applications. Its systems are designed to help industrial customers control emissions, improve operational efficiency, and meet environmental and regulatory requirements.

The company offers products and services including industrial dust and particulate collectors, filtration systems, scrubbers, fans, dampers, valves, thermal and catalytic oxidizers, and other air-pollution-control equipment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.