CECO Environmental (NASDAQ:CECO) Price Target Raised to $35.00 at Northland Securities

CECO Environmental (NASDAQ:CECO) had its target price boosted by Northland Securities from $28.00 to $35.00 in a report released on Thursday, Benzinga reports. Northland Securities currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. Craig Hallum increased their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a buy rating in a report on Wednesday. Roth Mkm lifted their price target on shares of CECO Environmental from $26.00 to $35.00 and gave the stock a buy rating in a research note on Wednesday. Needham & Company LLC lifted their price target on shares of CECO Environmental from $34.00 to $35.00 and gave the stock a buy rating in a research note on Wednesday. Finally, HC Wainwright lifted their price target on shares of CECO Environmental from $30.00 to $35.00 and gave the stock a buy rating in a research note on Wednesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of Buy and an average target price of $34.80.

CECO Environmental Trading Down 2.9 %

Shares of NASDAQ:CECO traded down $0.82 during mid-day trading on Thursday, reaching $27.69. 68,606 shares of the company were exchanged, compared to its average volume of 285,805. The firm has a market cap of $968.04 million, a price-to-earnings ratio of 81.46, a P/E/G ratio of 2.09 and a beta of 1.37. CECO Environmental has a 1 year low of $11.46 and a 1 year 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 firm’s 50-day simple moving average is $26.88 and its 200 day simple moving average is $23.75.

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

Insider Activity

In other news, Director Richard F. Wallman bought 4,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were acquired 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 directly owns 205,319 shares in the company, valued at $5,030,315.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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. BNP Paribas Financial Markets raised its position in CECO Environmental by 247.5% during the first quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock worth $1,025,000 after acquiring an additional 31,707 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in CECO Environmental during the fourth quarter worth about $2,720,000. Los Angeles Capital Management LLC acquired a new position in CECO Environmental during the fourth quarter worth about $729,000. Sei Investments Co. raised its position in CECO Environmental by 35.2% during the first quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock worth $1,614,000 after acquiring an additional 18,272 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. acquired a new position in shares of CECO Environmental in the fourth quarter valued at approximately $203,000. 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.