CECO Environmental’s (CECO) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of CECO Environmental (NASDAQ:CECO) in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a $35.00 target price on the stock. HC Wainwright also issued estimates for CECO Environmental’s Q4 2024 earnings at $0.31 EPS, FY2024 earnings at $0.77 EPS, Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.24 EPS, Q3 2025 earnings at $0.32 EPS, Q4 2025 earnings at $0.64 EPS and FY2025 earnings at $1.33 EPS.

Several other equities research analysts have also recently commented on the company. Northland Securities upped their price target on CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Craig Hallum raised their price objective on shares of CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC boosted their target price on CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Roth Mkm lifted their price target on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental currently has an average rating of “Buy” and an average target price of $34.40.

CECO Environmental Price Performance

CECO stock opened at $23.47 on Wednesday. The stock has a market cap of $820.98 million, a price-to-earnings ratio of 71.12, a PEG ratio of 2.00 and a beta of 1.33. The company has a quick ratio of 1.17, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. CECO Environmental has a fifty-two week low of $15.65 and a fifty-two week high of $31.55. The business has a 50 day moving average price of $27.08 and a 200 day moving average price of $26.47.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05). CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business had revenue of $135.50 million during the quarter, compared to analysts’ expectations of $155.94 million. During the same quarter last year, the company earned $0.22 EPS. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. Equities research analysts anticipate that CECO Environmental will post 0.82 earnings per share for the current fiscal year.

Insider Transactions at CECO Environmental

In other news, Director Richard F. Wallman bought 10,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were bought at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the completion of the transaction, the director now owns 62,000 shares in the company, valued at $1,783,740. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On CECO Environmental

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in shares of CECO Environmental by 17.6% during the 3rd quarter. Principal Financial Group Inc. now owns 22,246 shares of the company’s stock worth $627,000 after purchasing an additional 3,330 shares during the last quarter. Van ECK Associates Corp increased its position in CECO Environmental by 466.4% during the third quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock worth $10,082,000 after buying an additional 312,803 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of CECO Environmental by 5.8% in the third quarter. Private Advisor Group LLC now owns 16,065 shares of the company’s stock worth $453,000 after acquiring an additional 885 shares during the last quarter. Eastern Bank purchased a new stake in shares of CECO Environmental in the third quarter valued at $113,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of CECO Environmental by 65.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 484,518 shares of the company’s stock valued at $13,663,000 after acquiring an additional 191,286 shares during the last quarter. Institutional investors and hedge funds own 68.08% of the company’s stock.

CECO Environmental Company Profile

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.