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

CECO Environmental (NASDAQ:CECO) had its price target lifted by stock analysts at Craig Hallum from $34.00 to $40.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price target suggests a potential upside of 21.58% from the stock’s current price.

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

CECO Environmental Stock Performance

NASDAQ:CECO traded up $1.29 during trading hours on Monday, reaching $32.90. 127,472 shares of the company’s stock were exchanged, compared to its average volume of 204,312. The company has a 50-day moving average of $29.24 and a 200 day moving average of $28.29. CECO Environmental has a 1-year low of $18.50 and a 1-year high of $35.16. 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 firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 99.70, a P/E/G ratio of 2.92 and a beta of 1.43.

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

Institutional Investors Weigh In On CECO Environmental

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its holdings in CECO Environmental by 14.8% in the 2nd quarter. Principal Financial Group Inc. now owns 18,916 shares of the company’s stock worth $546,000 after purchasing an additional 2,439 shares during the last quarter. Arizona State Retirement System acquired a new stake in shares of CECO Environmental during the 2nd quarter valued at about $239,000. American Century Companies Inc. raised its stake in CECO Environmental by 15.3% during the second quarter. American Century Companies Inc. now owns 38,397 shares of the company’s stock worth $1,108,000 after acquiring an additional 5,107 shares in the last quarter. Robeco Schweiz AG boosted its position in CECO Environmental by 375.2% in the second quarter. Robeco Schweiz AG now owns 565,255 shares of the company’s stock valued at $16,308,000 after buying an additional 446,305 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its position in CECO Environmental by 10.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 657,764 shares of the company’s stock worth $18,976,000 after acquiring an additional 64,900 shares during the last quarter. Hedge funds and other institutional investors 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.