CECO Environmental (NASDAQ:CECO) PT Raised to $28.00

CECO Environmental (NASDAQ:CECO - Free Report) had its price objective lifted by Craig Hallum from $25.00 to $28.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Craig Hallum currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on CECO. Needham & Company LLC upped their target price on shares of CECO Environmental from $23.00 to $26.00 and gave the stock a buy rating in a report on Wednesday. Roth Mkm raised their target price on shares of CECO Environmental from $22.00 to $25.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. HC Wainwright restated a buy rating and issued a $30.00 price target on shares of CECO Environmental in a research report on Wednesday. Finally, Northland Securities boosted their price objective on CECO Environmental from $27.00 to $28.00 and gave the stock an outperform rating in a research note on Wednesday, March 6th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of Buy and an average price target of $27.40.

CECO Environmental Price Performance

Shares of CECO traded up $0.38 during mid-day trading on Wednesday, hitting $22.00. 505,217 shares of the company were exchanged, compared to its average volume of 257,292. The stock has a market cap of $767.14 million, a price-to-earnings ratio of 58.68, a price-to-earnings-growth ratio of 1.76 and a beta of 1.23. CECO Environmental has a 1-year low of $10.68 and a 1-year high of $25.82. The company has a 50 day moving average of $22.62 and a 200-day moving average of $20.33. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 1.39.

CECO Environmental (NASDAQ:CECO - Get Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. CECO Environmental had a return on equity of 11.57% and a net margin of 2.37%. The business had revenue of $126.30 million for the quarter, compared to the consensus estimate of $135.82 million. During the same quarter last year, the business posted $0.10 earnings per share. The business's quarterly revenue was up 12.2% compared to the same quarter last year. Analysts expect that CECO Environmental will post 0.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Laurie Siegel bought 2,500 shares of the firm's stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of $19.87 per share, with a total value of $49,675.00. Following the completion of the transaction, the director now directly owns 7,906 shares of the company's stock, valued at approximately $157,092.22. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.90% of the stock is owned by insiders.

Institutional Trading of CECO Environmental

Several institutional investors have recently added to or reduced their stakes in CECO. Vanguard Group Inc. lifted its position in shares of CECO Environmental by 1.0% during the third quarter. Vanguard Group Inc. now owns 1,440,579 shares of the company's stock worth $23,006,000 after purchasing an additional 13,747 shares in the last quarter. RK Capital Management LLC boosted its position in CECO Environmental by 36.6% in the 3rd quarter. RK Capital Management LLC now owns 884,347 shares of the company's stock valued at $14,123,000 after buying an additional 237,093 shares during the period. Wellington Management Group LLP grew its stake in shares of CECO Environmental by 271.2% in the third quarter. Wellington Management Group LLP now owns 629,146 shares of the company's stock worth $10,047,000 after acquiring an additional 459,646 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of CECO Environmental by 9.7% in the fourth quarter. First Eagle Investment Management LLC now owns 483,364 shares of the company's stock worth $9,803,000 after acquiring an additional 42,731 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of CECO Environmental by 28.3% during the fourth quarter. Russell Investments Group Ltd. now owns 448,248 shares of the company's stock worth $9,090,000 after acquiring an additional 98,951 shares during the period. Institutional investors and hedge funds own 68.08% of the company's stock.

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.