CECO Environmental (NASDAQ:CECO) Downgraded to Hold Rating by Zacks Research

CECO Environmental (NASDAQ:CECO) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other brokerages 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 report on Wednesday, July 29th. Northland Securities set a $118.00 price objective on shares of CECO Environmental in a report on Friday, June 12th. Lake Street Capital lifted their price objective on CECO Environmental from $80.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Roth Capital reiterated a “buy” rating and set a $85.00 target price on shares of CECO Environmental in a report on Wednesday, April 29th. Finally, Craig Hallum reissued a “buy” rating and issued a $103.00 target price on shares of CECO Environmental in a research report on Tuesday, April 28th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $104.00.

CECO Environmental Stock Performance

NASDAQ:CECO opened at $75.83 on Tuesday. The stock has a market cap of $2.72 billion, a P/E ratio of -109.90 and a beta of 1.51. The firm’s fifty day simple moving average is $82.40 and its 200 day simple moving average is $73.71. CECO Environmental has a twelve month low of $42.78 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.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. CECO Environmental had a negative net margin of 3.39% and a positive return on equity of 17.56%. The business had revenue of $284.96 million for the quarter, compared to the consensus estimate of $282.21 million. During the same period in the previous year, the firm earned $0.26 EPS. The company’s quarterly revenue was up 53.7% compared to the same quarter last year. As a group, research analysts predict that CECO Environmental will post 2.12 EPS for the current year.

Insider Buying and Selling

In other CECO Environmental news, Director Richard F. Wallman acquired 20,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were acquired at an average price of $76.85 per share, for a total transaction of $1,537,000.00. Following the completion of the acquisition, the director owned 105,500 shares in the company, valued at $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Peter K. Johansson sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $96.49, for a total transaction of $2,894,700.00. Following the transaction, the chief financial officer directly owned 40,746 shares of the company’s stock, valued at $3,931,581.54. This represents a 42.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 18.40% of the stock is owned by company insiders.

Institutional Trading of CECO Environmental

Hedge funds have recently made changes to their positions in the stock. Peregrine Asset Advisers Inc. grew its holdings in shares of CECO Environmental by 142.1% during the fourth quarter. Peregrine Asset Advisers Inc. now owns 113,870 shares of the company’s stock valued at $6,815,000 after buying an additional 66,843 shares during the last quarter. Oliver Luxxe Assets LLC purchased a new position in CECO Environmental in the 2nd quarter worth approximately $2,230,000. Moran Wealth Management LLC raised its holdings in CECO Environmental by 393.4% in the 1st quarter. Moran Wealth Management LLC now owns 56,953 shares of the company’s stock worth $3,393,000 after acquiring an additional 45,411 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in CECO Environmental in the 2nd quarter valued at approximately $19,944,000. Finally, Navellier & Associates Inc. lifted its position in CECO Environmental by 48.5% in the 4th quarter. Navellier & Associates Inc. now owns 42,455 shares of the company’s stock valued at $2,541,000 after acquiring an additional 13,860 shares in the last quarter. 68.08% of the stock is owned by institutional investors.

CECO Environmental Company Profile

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.