CECO Environmental's (CECO) "Buy" Rating Reaffirmed at HC Wainwright

CECO Environmental (NASDAQ:CECO - Get Free Report)'s stock had its "buy" rating restated by analysts at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They presently have a $35.00 price target on the stock. HC Wainwright's target price would indicate a potential upside of 42.33% from the stock's previous close.

Several other research analysts have also weighed in on CECO. Craig Hallum increased their price objective on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Roth Mkm raised their price target on shares of CECO Environmental from $26.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Needham & Company LLC lifted their price objective on shares of CECO Environmental from $34.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, Northland Securities lifted their price objective on shares of CECO Environmental from $28.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CECO Environmental currently has a consensus rating of "Buy" and an average target price of $34.40.

CECO Environmental Trading Up 9.0 %

Shares of CECO Environmental stock traded up $2.03 during mid-day trading on Wednesday, hitting $24.59. 709,215 shares of the stock were exchanged, compared to its average volume of 262,680. CECO Environmental has a twelve month low of $15.65 and a twelve month high of $31.55. The stock has a market capitalization of $859.08 million, a price-to-earnings ratio of 70.26, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The company has a 50-day simple moving average of $27.26 and a 200 day simple moving average of $26.48. The company has a current ratio of 1.36, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO - Get Free Report) last released its quarterly 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). 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 analyst estimates of $155.94 million. During the same period in the prior year, the business earned $0.22 earnings per share. CECO Environmental's revenue for the quarter was down 9.3% on a year-over-year basis. Research analysts forecast that CECO Environmental will post 0.93 EPS for the current year.

Insider Activity at CECO Environmental

In related 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 purchased at an average price of $28.77 per share, with a total value of $287,700.00. Following the purchase, the director now owns 62,000 shares of the company's stock, valued at $1,783,740. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 16.90% of the company's stock.

Institutional Investors Weigh In On CECO Environmental

Several large investors have recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new stake in CECO Environmental in the 1st quarter worth approximately $379,000. Precision Wealth Strategies LLC bought a new stake in shares of CECO Environmental during the first quarter valued at approximately $255,000. BNP Paribas Financial Markets increased its position in shares of CECO Environmental by 247.5% during the first quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company's stock valued at $1,025,000 after purchasing an additional 31,707 shares during the period. Essex Investment Management Co. LLC grew its position in CECO Environmental by 1.6% in the first quarter. Essex Investment Management Co. LLC now owns 205,982 shares of the company's stock valued at $4,742,000 after acquiring an additional 3,147 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new stake in CECO Environmental in the first quarter valued at $366,000. 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.