CECO Environmental (NASDAQ:CECO - Get Free Report) had its price target boosted by research analysts at Needham & Company LLC from $33.00 to $34.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price objective suggests a potential upside of 33.92% from the stock's current price.
Several other analysts have also recently commented on the stock. Craig Hallum lifted their price objective on shares of CECO Environmental from $34.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, January 6th. HC Wainwright raised shares of CECO Environmental from a "neutral" rating to a "buy" rating and set a $33.00 target price for the company in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental currently has an average rating of "Buy" and an average price target of $36.00.
Get Our Latest Stock Report on CECO Environmental
CECO Environmental Stock Performance
Shares of CECO traded down $0.53 during trading hours on Wednesday, reaching $25.39. 132,939 shares of the company traded hands, compared to its average volume of 287,269. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average price of $22.19 and a 200-day moving average price of $26.42. CECO Environmental has a 12-month low of $17.57 and a 12-month high of $35.16. The stock has a market capitalization of $894.09 million, a P/E ratio of 76.97, a P/E/G ratio of 1.39 and a beta of 1.30.
CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The business had revenue of $176.70 million for the quarter, compared to the consensus estimate of $151.53 million. The business's revenue was up 39.9% on a year-over-year basis. Equities analysts anticipate that CECO Environmental will post 0.67 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, insider Peter K. Johansson sold 22,500 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $22.80, for a total value of $513,000.00. Following the completion of the transaction, the insider now directly owns 62,160 shares in the company, valued at $1,417,248. The trade was a 26.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard F. Wallman purchased 1,000 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were purchased at an average price of $25.15 per share, for a total transaction of $25,150.00. Following the transaction, the director now owns 207,117 shares of the company's stock, valued at $5,208,992.55. This trade represents a 0.49 % increase in their position. The disclosure for this purchase can be found here. Insiders own 18.40% of the company's stock.
Hedge Funds Weigh In On CECO Environmental
Large investors have recently bought and sold shares of the business. Mackenzie Financial Corp purchased a new stake in shares of CECO Environmental in the fourth quarter valued at approximately $56,000. Heck Capital Advisors LLC acquired a new stake in CECO Environmental in the 4th quarter valued at $74,000. Morse Asset Management Inc purchased a new stake in CECO Environmental in the 3rd quarter worth $76,000. Jones Financial Companies Lllp raised its position in CECO Environmental by 127.0% during the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company's stock worth $90,000 after acquiring an additional 1,658 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in CECO Environmental during the fourth quarter valued at $218,000. Institutional investors and hedge funds own 68.08% of the company's stock.
About CECO Environmental
(
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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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