CECO Environmental Corp. (NASDAQ:CECO) Receives $34.80 Average Target Price from Analysts

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) has been given a consensus recommendation of "Buy" by the five ratings firms that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued a report on the stock in the last year is $34.80.

Several equities research analysts recently commented on CECO shares. Craig Hallum raised their target price on CECO Environmental from $28.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Roth Mkm raised their target price on CECO Environmental from $26.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Northland Securities raised their target price on CECO Environmental from $28.00 to $35.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. HC Wainwright raised their price objective on CECO Environmental from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, Needham & Company LLC raised their price objective on CECO Environmental from $34.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st.

CECO Environmental Trading Up 1.4 %

Shares of CECO traded up $0.36 during mid-day trading on Wednesday, reaching $26.54. 143,594 shares of the company were exchanged, compared to its average volume of 258,143. CECO Environmental has a 52 week low of $15.27 and a 52 week high of $31.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.36. The stock has a market capitalization of $927.20 million, a PE ratio of 75.89, a PEG ratio of 2.01 and a beta of 1.33. The business has a 50 day simple moving average of $27.49 and a two-hundred day simple moving average of $26.41.

CECO Environmental (NASDAQ:CECO - Get Free Report) last released its earnings results on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.16 by $0.04. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The business had revenue of $137.50 million during the quarter, compared to analysts' expectations of $143.33 million. During the same quarter last year, the firm posted $0.15 earnings per share. The firm's revenue was up 6.4% on a year-over-year basis. On average, analysts predict that CECO Environmental will post 0.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CECO Environmental news, Director Richard F. Wallman purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, August 30th. The shares were acquired at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the completion of the acquisition, the director now owns 62,000 shares of the company's stock, valued at $1,783,740. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 16.90% of the stock is currently owned by corporate insiders.

Institutional Trading of CECO Environmental

A number of hedge funds have recently bought and sold shares of the business. Essex Investment Management Co. LLC lifted its holdings in CECO Environmental by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 208,426 shares of the company's stock worth $5,878,000 after acquiring an additional 562 shares during the period. CWM LLC raised its stake in shares of CECO Environmental by 45.3% in the second quarter. CWM LLC now owns 2,270 shares of the company's stock valued at $65,000 after buying an additional 708 shares during the period. Private Advisor Group LLC raised its stake in shares of CECO Environmental by 5.8% in the third quarter. Private Advisor Group LLC now owns 16,065 shares of the company's stock valued at $453,000 after buying an additional 885 shares during the period. Kessler Investment Group LLC raised its stake in shares of CECO Environmental by 27.8% in the second quarter. Kessler Investment Group LLC now owns 7,166 shares of the company's stock valued at $207,000 after buying an additional 1,560 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of CECO Environmental by 14.8% in the second quarter. Principal Financial Group Inc. now owns 18,916 shares of the company's stock valued at $546,000 after buying an additional 2,439 shares during the period. 68.08% of the stock is currently 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.