CECO Environmental (NASDAQ:CECO) Price Target Cut to $33.00 by Analysts at Needham & Company LLC

CECO Environmental (NASDAQ:CECO - Free Report) had its price target cut by Needham & Company LLC from $35.00 to $33.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $35.00 target price on shares of CECO Environmental in a report on Wednesday. Craig Hallum boosted their price target on CECO Environmental from $28.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Northland Securities upped their price target on CECO Environmental from $28.00 to $35.00 and gave the company an "outperform" rating in a research report on Thursday, August 1st. Finally, Roth Mkm raised their target price on shares of CECO Environmental from $26.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $34.40.

CECO Environmental Trading Up 9.0 %

NASDAQ:CECO traded up $2.03 during midday trading on Wednesday, hitting $24.59. The stock had a trading volume of 480,659 shares, compared to its average volume of 261,591. The company has a quick ratio of 1.17, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $27.32 and a 200 day moving average of $26.49. CECO Environmental has a one year low of $15.65 and a one year high of $31.55. The company has a market capitalization of $859.08 million, a price-to-earnings ratio of 69.94, a PEG ratio of 2.01 and a beta of 1.33.

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 $0.22 by ($0.08). CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The firm had revenue of $135.50 million for the quarter, compared to analysts' expectations of $155.94 million. During the same period in the previous year, the company earned $0.22 earnings per share. The company's revenue was down 9.3% compared to the same quarter last year. As a group, sell-side analysts forecast that CECO Environmental will post 0.93 EPS for the current year.

Insider Buying and Selling at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman bought 10,000 shares of the business's stock in a transaction on Friday, August 30th. The stock was purchased at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the completion of the transaction, the director now directly owns 62,000 shares of the company's stock, valued at $1,783,740. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 16.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp raised its stake in CECO Environmental by 466.4% during the 3rd quarter. Van ECK Associates Corp now owns 379,877 shares of the company's stock worth $10,082,000 after acquiring an additional 312,803 shares during the period. Private Advisor Group LLC raised its stake in CECO Environmental by 5.8% in the third quarter. Private Advisor Group LLC now owns 16,065 shares of the company's stock worth $453,000 after buying an additional 885 shares in the last quarter. Eastern Bank purchased a new stake in shares of CECO Environmental during the third quarter worth about $113,000. Allspring Global Investments Holdings LLC boosted its position in CECO Environmental by 65.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 484,518 shares of the company's stock valued at $13,663,000 after buying an additional 191,286 shares during the last quarter. Finally, Essex Investment Management Co. LLC raised its holdings in shares of 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 purchasing an additional 562 shares during the last quarter. Hedge funds and other institutional investors 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.