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CECO Environmental (NASDAQ:CECO) Price Target Raised to $38.00 at Northland Securities

CECO Environmental logo with Industrial Products background

CECO Environmental (NASDAQ:CECO - Free Report) had its price objective raised by Northland Securities from $35.00 to $38.00 in a research note published on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. HC Wainwright reissued a "buy" rating and set a $35.00 price objective on shares of CECO Environmental in a research report on Wednesday, October 30th. Needham & Company LLC cut their price objective on CECO Environmental from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, CECO Environmental presently has a consensus rating of "Buy" and a consensus price target of $35.00.

Get Our Latest Research Report on CECO Environmental

CECO Environmental Stock Performance

Shares of CECO traded down $0.01 during mid-day trading on Friday, hitting $29.49. The stock had a trading volume of 306,583 shares, compared to its average volume of 273,443. CECO Environmental has a 52 week low of $18.50 and a 52 week high of $35.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The business has a fifty day moving average price of $28.53 and a 200-day moving average price of $27.76. The firm has a market cap of $1.03 billion, a P/E ratio of 89.37, a PEG ratio of 2.92 and a beta of 1.41.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share 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 the consensus estimate of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company's quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 earnings per share. On average, equities research analysts expect that CECO Environmental will post 0.79 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its holdings in shares of CECO Environmental by 71.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company's stock worth $40,000 after acquiring an additional 591 shares during the last quarter. Quest Partners LLC bought a new stake in shares of CECO Environmental during the 3rd quarter worth approximately $69,000. Morse Asset Management Inc purchased a new stake in CECO Environmental in the third quarter worth $76,000. Eastern Bank purchased a new stake in shares of CECO Environmental during the third quarter valued at $113,000. Finally, SG Americas Securities LLC bought a new position in shares of CECO Environmental in the second quarter worth about $201,000. Hedge funds and other institutional investors own 68.08% of the company's stock.

About CECO Environmental

(Get Free Report)

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.

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