CECO Environmental (NASDAQ:CECO) Receives Buy Rating from Needham & Company LLC

CECO Environmental (NASDAQ:CECO)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They presently have a $33.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 34.64% from the company’s current price.

Several other equities research analysts have also recently weighed in on CECO. Northland Securities increased their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. HC Wainwright reiterated a “neutral” rating on shares of CECO Environmental in a report on Wednesday. Finally, Craig Hallum boosted their price target on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.20.

CECO Environmental Stock Up 8.2 %

Shares of NASDAQ:CECO opened at $24.51 on Wednesday. The stock has a market capitalization of $857.34 million, a P/E ratio of 74.27, a price-to-earnings-growth ratio of 1.39 and a beta of 1.41. The stock’s 50-day moving average price is $28.69 and its 200-day moving average price is $28.29. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. CECO Environmental has a 12-month low of $18.50 and a 12-month high of $35.16.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The business had revenue of $158.60 million for the quarter, compared to analyst estimates of $156.09 million. During the same period last year, the company earned $0.28 EPS. CECO Environmental’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities analysts anticipate that CECO Environmental will post 0.67 earnings per share for the current year.

Institutional Investors Weigh In On CECO Environmental

A number of large investors have recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its holdings in CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after buying an additional 591 shares during the period. Mackenzie Financial Corp bought a new position in shares of CECO Environmental in the 4th quarter worth approximately $56,000. Quest Partners LLC purchased a new position in shares of CECO Environmental in the 3rd quarter valued at approximately $69,000. Heck Capital Advisors LLC bought a new stake in shares of CECO Environmental during the fourth quarter valued at approximately $74,000. Finally, Morse Asset Management Inc purchased a new stake in CECO Environmental in the third quarter worth $76,000. Institutional investors 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.