CECO Environmental Corp. (NASDAQ:CECO) Receives $53.60 Consensus PT from Brokerages

CECO Environmental Corp. (NASDAQ:CECO) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $53.60.

Several equities analysts recently commented on CECO shares. Needham & Company LLC upped their price objective on CECO Environmental from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. HC Wainwright boosted their target price on CECO Environmental from $33.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Lake Street Capital reaffirmed a “buy” rating and set a $56.00 price target on shares of CECO Environmental in a research report on Wednesday, July 30th. Zacks Research lowered CECO Environmental from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of CECO Environmental in a research note on Wednesday, October 8th.

Insider Buying and Selling

In other CECO Environmental news, CEO Todd R. Gleason sold 98,101 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $50.45, for a total transaction of $4,949,195.45. Following the sale, the chief executive officer owned 410,835 shares in the company, valued at $20,726,625.75. This represents a 19.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard F. Wallman purchased 3,000 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was bought at an average cost of $46.93 per share, with a total value of $140,790.00. Following the completion of the acquisition, the director directly owned 80,500 shares of the company’s stock, valued at approximately $3,777,865. This trade represents a 3.87% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 7,500 shares of company stock worth $339,915 and have sold 300,000 shares worth $15,104,854. Corporate insiders own 18.40% of the company’s stock.

Institutional Trading of CECO Environmental

A number of institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its holdings in CECO Environmental by 224.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,445 shares of the company’s stock valued at $41,000 after buying an additional 1,000 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of CECO Environmental in the third quarter valued at approximately $50,000. First Horizon Corp purchased a new position in CECO Environmental during the third quarter valued at approximately $64,000. AlphaQuest LLC bought a new stake in CECO Environmental during the 3rd quarter worth approximately $80,000. Finally, State of Alaska Department of Revenue bought a new stake in CECO Environmental during the 3rd quarter worth approximately $94,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

CECO Environmental Price Performance

CECO opened at $51.88 on Friday. CECO Environmental has a fifty-two week low of $17.57 and a fifty-two week high of $56.19. The firm has a 50-day moving average of $50.32 and a 200 day moving average of $39.24. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.13 and a current ratio of 1.33. The firm has a market cap of $1.85 billion, a P/E ratio of 36.79, a PEG ratio of 3.25 and a beta of 1.27.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.25 by $0.01. CECO Environmental had a net margin of 7.22% and a return on equity of 10.84%. The business had revenue of $197.60 million for the quarter, compared to analyst estimates of $190.36 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. On average, research analysts expect that CECO Environmental will post 0.67 EPS for the current year.

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.