CECO Environmental (NASDAQ:CECO) Stock Price Expected to Rise, Craig Hallum Analyst Says

CECO Environmental (NASDAQ:CECO - Get Free Report) had its target price boosted by Craig Hallum from $34.00 to $40.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Craig Hallum's price objective indicates a potential upside of 21.88% from the company's previous close.

Several other equities research analysts have also weighed in on the stock. Northland Securities lifted their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report 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 lowered their price target on CECO Environmental from $35.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, CECO Environmental has a consensus rating of "Buy" and an average price target of $36.20.

CECO Environmental Trading Up 3.8 %

Shares of CECO stock traded up $1.21 during trading hours on Monday, reaching $32.82. The company had a trading volume of 268,360 shares, compared to its average volume of 251,883. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. CECO Environmental has a 1-year low of $18.50 and a 1-year high of $35.16. The company has a 50 day moving average of $29.24 and a 200 day moving average of $28.29. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 99.46, a P/E/G ratio of 2.92 and a beta of 1.43.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05). The company had revenue of $135.50 million for the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. CECO Environmental's quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. On average, equities research analysts anticipate that CECO Environmental will post 0.79 EPS for the current year.

Hedge Funds Weigh In On CECO Environmental

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hood River Capital Management LLC bought a new stake in shares of CECO Environmental in the second quarter valued at about $15,495,000. Charles Schwab Investment Management Inc. lifted its stake in CECO Environmental by 185.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company's stock valued at $6,641,000 after acquiring an additional 152,893 shares in the last quarter. HighTower Advisors LLC boosted its position in CECO Environmental by 25.4% during the 3rd quarter. HighTower Advisors LLC now owns 17,669 shares of the company's stock worth $501,000 after acquiring an additional 3,581 shares during the last quarter. Barclays PLC grew its stake in shares of CECO Environmental by 115.0% during the 3rd quarter. Barclays PLC now owns 63,615 shares of the company's stock worth $1,795,000 after acquiring an additional 34,027 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of CECO Environmental by 1.7% in the third quarter. Geode Capital Management LLC now owns 689,487 shares of the company's stock valued at $19,448,000 after purchasing an additional 11,857 shares during the last quarter. 68.08% of the stock is owned by institutional investors and hedge funds.

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.