CECO Environmental (NASDAQ:CECO) Lowered to “Neutral” Rating by HC Wainwright

CECO Environmental (NASDAQ:CECO) was downgraded by analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a note issued to investors on Friday,Briefing.com Automated Import reports.

A number of other equities analysts have also recently issued reports on the stock. Northland Securities increased their price objective on shares of CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Craig Hallum increased their price objective on shares of CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC dropped their price objective on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, CECO Environmental currently has an average rating of “Moderate Buy” and an average price target of $36.20.

CECO Environmental Stock Performance

Shares of CECO Environmental stock traded down $3.33 on Friday, reaching $28.83. The stock had a trading volume of 994,998 shares, compared to its average volume of 303,472. The business’s 50-day moving average price is $30.62 and its two-hundred day moving average price is $28.60. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. CECO Environmental has a fifty-two week low of $18.50 and a fifty-two week high of $35.16. The stock has a market cap of $1.01 billion, a P/E ratio of 87.35, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43.

CECO Environmental (NASDAQ:CECO) last released its 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). The company had revenue of $135.50 million for the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. CECO Environmental’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 earnings per share. On average, sell-side analysts forecast that CECO Environmental will post 0.79 EPS for the current year.

Institutional Trading of CECO Environmental

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hood River Capital Management LLC acquired a new position in shares of CECO Environmental during the second quarter valued at about $15,495,000. Thrivent Financial for Lutherans bought a new stake in shares of CECO Environmental in the second quarter valued at approximately $11,857,000. Van ECK Associates Corp increased its holdings in CECO Environmental by 466.4% during the 3rd quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock worth $10,082,000 after acquiring an additional 312,803 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in CECO Environmental by 65.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 484,518 shares of the company’s stock worth $13,663,000 after acquiring an additional 191,286 shares during the period. Finally, Fred Alger Management LLC increased its holdings in CECO Environmental by 135.9% during the 3rd quarter. Fred Alger Management LLC now owns 312,810 shares of the company’s stock worth $8,821,000 after acquiring an additional 180,221 shares during the period. Institutional investors 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.