HC Wainwright Reiterates “Buy” Rating for CECO Environmental (NASDAQ:CECO)

HC Wainwright restated their buy rating on shares of CECO Environmental (NASDAQ:CECO) in a report released on Wednesday, Benzinga reports. The brokerage currently has a $35.00 price objective on the stock.

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

CECO Environmental Stock Up 9.0 %

CECO stock opened at $24.59 on Wednesday. The stock has a market capitalization of $859.08 million, a P/E ratio of 70.26, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The company has a current ratio of 1.36, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. CECO Environmental has a 12 month low of $15.65 and a 12 month high of $31.55. The firm has a 50-day moving average price of $27.26 and a 200-day moving average price of $26.48.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05). The firm had revenue of $135.50 million during the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 EPS. As a group, equities research analysts anticipate that CECO Environmental will post 0.93 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On CECO Environmental

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of CECO Environmental by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company’s stock worth $35,138,000 after acquiring an additional 24,812 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of CECO Environmental by 10.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 657,764 shares of the company’s stock valued at $18,976,000 after acquiring an additional 64,900 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in CECO Environmental by 37.4% during the second quarter. Driehaus Capital Management LLC now owns 586,249 shares of the company’s stock worth $16,913,000 after buying an additional 159,485 shares in the last quarter. Robeco Schweiz AG boosted its holdings in CECO Environmental by 375.2% during the second quarter. Robeco Schweiz AG now owns 565,255 shares of the company’s stock worth $16,308,000 after buying an additional 446,305 shares in the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in CECO Environmental during the second quarter worth $15,495,000. 68.08% of the stock is owned by hedge funds and other institutional investors.

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.