CECO Environmental (NASDAQ:CECO) Given Buy Rating at Needham & Company LLC

CECO Environmental (NASDAQ:CECO - Get Free Report)'s stock had its "buy" rating restated by Needham & Company LLC in a report released on Wednesday,Benzinga reports. They currently have a $33.00 price target on the stock. Needham & Company LLC's price target points to a potential upside of 32.64% from the stock's current price.

Several other brokerages have also weighed in on CECO. Northland Securities increased their target price 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 reissued a "neutral" rating on shares of CECO Environmental in a research report on Wednesday. Finally, Craig Hallum increased their price target on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.20.

CECO Environmental Trading Down 1.2 %

Shares of CECO traded down $0.30 during mid-day trading on Wednesday, reaching $24.88. The stock had a trading volume of 269,947 shares, compared to its average volume of 304,337. 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 52-week low of $18.50 and a 52-week high of $35.16. The business's fifty day moving average is $28.42 and its 200 day moving average is $28.22. The firm has a market cap of $870.28 million, a price-to-earnings ratio of 75.40, a P/E/G ratio of 1.39 and a beta of 1.41.

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CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. The company 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 was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 earnings per share. On average, sell-side analysts predict that CECO Environmental will post 0.67 EPS for the current fiscal year.

Insider Transactions at CECO Environmental

In other news, Director Richard F. Wallman bought 1,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, February 26th. The shares were purchased at an average price of $25.15 per share, with a total value of $25,150.00. Following the completion of the acquisition, the director now directly owns 207,117 shares in the company, valued at $5,208,992.55. The trade was a 0.49 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 16.90% of the company's stock.

Institutional Trading of CECO Environmental

Several hedge funds have recently added to or reduced their stakes in the company. Capital International Investors raised its holdings in CECO Environmental by 12.1% in the fourth quarter. Capital International Investors now owns 1,971,334 shares of the company's stock valued at $59,593,000 after acquiring an additional 212,476 shares in the last quarter. Hood River Capital Management LLC increased its stake in CECO Environmental by 63.0% in the fourth quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company's stock valued at $52,623,000 after purchasing an additional 673,050 shares during the last quarter. Vanguard Group Inc. increased its stake in CECO Environmental by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,648,674 shares of the company's stock valued at $49,839,000 after purchasing an additional 9,023 shares during the last quarter. King Luther Capital Management Corp increased its stake in CECO Environmental by 2.3% in the fourth quarter. King Luther Capital Management Corp now owns 1,033,789 shares of the company's stock valued at $31,251,000 after purchasing an additional 23,239 shares during the last quarter. Finally, Royce & Associates LP increased its stake in CECO Environmental by 27.2% in the fourth quarter. Royce & Associates LP now owns 915,212 shares of the company's stock valued at $27,667,000 after purchasing an additional 195,425 shares during the last quarter. Institutional investors and hedge funds 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.