CECO Environmental’s (CECO) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of CECO Environmental (NASDAQ:CECO) in a research note issued to investors on Wednesday,Benzinga reports. Needham & Company LLC currently has a $33.00 target price on the stock.

Several other brokerages have also recently issued reports on CECO. Craig Hallum lifted their target price on CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Northland Securities upped their price objective on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Finally, HC Wainwright reiterated a “neutral” rating on shares of CECO Environmental in a research report on Wednesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

CECO Environmental Stock Up 0.0 %

NASDAQ CECO opened at $24.52 on Wednesday. CECO Environmental has a 12 month low of $18.50 and a 12 month high of $35.16. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The stock has a market cap of $857.69 million, a PE ratio of 74.31, a P/E/G ratio of 1.39 and a beta of 1.41. The stock’s 50 day moving average is $28.60 and its 200 day moving average is $28.26.

CECO Environmental (NASDAQ:CECO) last issued its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $158.60 million during the quarter, compared to analyst estimates of $156.09 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. CECO Environmental’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. Research analysts predict that CECO Environmental will post 0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On CECO Environmental

Several institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. raised its holdings in CECO Environmental by 71.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after buying an additional 591 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of CECO Environmental in the fourth quarter valued at $56,000. Quest Partners LLC bought a new stake in shares of CECO Environmental in the 3rd quarter worth about $69,000. Heck Capital Advisors LLC bought a new stake in shares of CECO Environmental in the 4th quarter worth about $74,000. Finally, Morse Asset Management Inc purchased a new position in shares of CECO Environmental during the 3rd quarter worth about $76,000. 68.08% of the stock is owned by 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.