Needham & Company LLC Raises CECO Environmental (NASDAQ:CECO) Price Target to $35.00

CECO Environmental (NASDAQ:CECO) had its price objective upped by Needham & Company LLC from $34.00 to $35.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also weighed in on CECO. Craig Hallum upped their price objective on CECO Environmental from $25.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, May 1st. HC Wainwright reaffirmed a buy rating and set a $30.00 price objective on shares of CECO Environmental in a report on Wednesday, May 1st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CECO Environmental presently has a consensus rating of Buy and an average price target of $34.80.

CECO Environmental Price Performance

CECO Environmental stock opened at $27.64 on Wednesday. CECO Environmental has a 12 month low of $11.46 and a 12 month high of $31.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.19. The business has a 50 day simple moving average of $26.91 and a 200-day simple moving average of $23.80. The stock has a market capitalization of $966.29 million, a PE ratio of 78.97, a price-to-earnings-growth ratio of 2.09 and a beta of 1.37.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The firm had revenue of $137.50 million for the quarter, compared to analyst estimates of $143.33 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. CECO Environmental’s quarterly revenue was up 6.4% on a year-over-year basis. Equities analysts predict that CECO Environmental will post 0.93 earnings per share for the current year.

Insider Buying and Selling at CECO Environmental

In other news, Director Richard F. Wallman bought 4,000 shares of the stock in a transaction on Tuesday, May 21st. The shares were bought at an average price of $24.50 per share, with a total value of $98,000.00. Following the completion of the acquisition, the director now owns 205,319 shares of the company’s stock, valued at $5,030,315.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 16.90% of the stock is owned by corporate insiders.

Institutional Trading of CECO Environmental

A number of large investors have recently made changes to their positions in CECO. Allspring Global Investments Holdings LLC boosted its stake in shares of CECO Environmental by 651,526.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 293,232 shares of the company’s stock valued at $8,460,000 after acquiring an additional 293,187 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of CECO Environmental during the fourth quarter valued at $4,153,000. Great Lakes Advisors LLC acquired a new stake in shares of CECO Environmental during the fourth quarter valued at $2,720,000. Robeco Schweiz AG acquired a new stake in shares of CECO Environmental during the first quarter valued at $2,738,000. Finally, First Eagle Investment Management LLC lifted its position in CECO Environmental by 22.7% during the first quarter. First Eagle Investment Management LLC now owns 592,864 shares of the company’s stock worth $13,648,000 after buying an additional 109,500 shares during the period. Institutional investors and hedge funds 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.