JPMorgan Chase & Co. Initiates Coverage on CECO Environmental (NASDAQ:CECO)

Analysts at JPMorgan Chase & Co. started coverage on shares of CECO Environmental (NASDAQ:CECO) in a report issued on Thursday,Benzinga reports. The firm set an “overweight” rating and a $130.00 price target on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 63.46% from the stock’s current price.

A number of other equities analysts have also recently issued reports on CECO. Weiss Ratings cut shares of CECO Environmental from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Roth Capital restated a “buy” rating and set a $85.00 price objective on shares of CECO Environmental in a research note on Wednesday, April 29th. Zacks Research raised shares of CECO Environmental from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Craig Hallum reiterated a “buy” rating and issued a $103.00 target price on shares of CECO Environmental in a research note on Tuesday, April 28th. Finally, Lake Street Capital raised their price target on shares of CECO Environmental from $80.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $106.71.

CECO Environmental Stock Performance

CECO Environmental stock opened at $79.53 on Thursday. CECO Environmental has a twelve month low of $29.68 and a twelve month high of $101.24. The company has a quick ratio of 1.18, a current ratio of 1.33 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $2.85 billion, a P/E ratio of 214.95 and a beta of 1.47. The stock’s 50 day moving average is $85.47 and its 200 day moving average is $71.55.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. CECO Environmental had a return on equity of 13.69% and a net margin of 1.70%.The business had revenue of $205.92 million during the quarter, compared to analysts’ expectations of $198.88 million. During the same quarter in the previous year, the business earned $0.10 earnings per share. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, equities research analysts predict that CECO Environmental will post 1.96 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Richard F. Wallman acquired 20,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was purchased at an average cost of $76.85 per share, with a total value of $1,537,000.00. Following the completion of the acquisition, the director directly owned 105,500 shares of the company’s stock, valued at approximately $8,107,675. This trade represents a 23.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jason Dezwirek sold 34,000 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $96.61, for a total transaction of $3,284,740.00. Following the sale, the director owned 166,000 shares of the company’s stock, valued at approximately $16,037,260. This represents a 17.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 18.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its stake in shares of CECO Environmental by 104.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 718,992 shares of the company’s stock valued at $43,032,000 after purchasing an additional 366,611 shares during the period. Capital World Investors bought a new position in shares of CECO Environmental in the 4th quarter worth approximately $19,936,000. Two Sigma Investments LP lifted its stake in shares of CECO Environmental by 3,620.8% in the 3rd quarter. Two Sigma Investments LP now owns 302,691 shares of the company’s stock worth $15,498,000 after purchasing an additional 294,556 shares during the period. IES Holdings Inc. purchased a new position in shares of CECO Environmental in the fourth quarter worth approximately $16,963,000. Finally, Franklin Resources Inc. boosted its holdings in shares of CECO Environmental by 818.9% in the fourth quarter. Franklin Resources Inc. now owns 253,491 shares of the company’s stock worth $15,171,000 after buying an additional 225,906 shares during the last quarter. Institutional investors own 68.08% of the company’s stock.

About CECO Environmental

CECO Environmental Corp. (NASDAQ: CECO) is a global technology provider specializing in engineered solutions that help industrial and commercial customers manage air emissions, process fluids and optimize energy use. The company develops custom-engineered systems and modular packages designed to meet evolving environmental regulations and improve operational efficiency across diverse production processes.

CECO’s core offerings include air pollution control equipment—such as scrubbers, cyclones, fabric and cartridge filters—and industrial process filtration systems for applications ranging from particulate removal to oil-water separation.