CECO Environmental (NASDAQ:CECO) Price Target Raised to $40.00

CECO Environmental (NASDAQ:CECO) had its target price hoisted by Craig Hallum from $34.00 to $40.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

CECO has been the topic of several other reports. Northland Securities increased their price objective on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of CECO Environmental in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reduced their target price on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $36.20.

CECO Environmental Stock Performance

Shares of CECO Environmental stock opened at $31.77 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 96.28, a price-to-earnings-growth ratio of 2.92 and a beta of 1.43. The business has a 50-day moving average of $29.71 and a 200 day moving average of $28.43. CECO Environmental has a 12 month low of $18.50 and a 12 month high of $35.16.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The business had revenue of $135.50 million during the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 EPS. As a group, sell-side analysts forecast that CECO Environmental will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. First Horizon Advisors Inc. boosted its holdings in CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after purchasing an additional 591 shares in the last quarter. Quest Partners LLC purchased a new position in shares of CECO Environmental in the 3rd quarter valued at $69,000. Morse Asset Management Inc acquired a new stake in CECO Environmental during the 3rd quarter worth $76,000. Eastern Bank purchased a new stake in CECO Environmental in the third quarter valued at $113,000. Finally, Arizona State Retirement System acquired a new position in CECO Environmental in the second quarter valued at $239,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

CECO Environmental Company Profile

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.