CECO Environmental (NASDAQ:CECO) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of CECO Environmental (NASDAQ:CECO) from a strong-buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Roth Capital restated a “buy” rating and set a $85.00 target price on shares of CECO Environmental in a report on Wednesday, April 29th. JPMorgan Chase & Co. began coverage on shares of CECO Environmental in a research note on Thursday, July 9th. They issued an “overweight” rating and a $130.00 price target for the company. Craig Hallum reissued a “buy” rating and set a $103.00 price target on shares of CECO Environmental in a research report on Tuesday, April 28th. Northland Securities set a $118.00 price target on shares of CECO Environmental in a research report on Friday, June 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $110.00 price objective on shares of CECO Environmental in a research note on Tuesday. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CECO Environmental has a consensus rating of “Moderate Buy” and an average target price of $104.00.

CECO Environmental Trading Up 2.5%

CECO opened at $75.83 on Tuesday. The stock has a market cap of $2.72 billion, a PE ratio of -109.90 and a beta of 1.51. The company has a quick ratio of 1.18, a current ratio of 1.33 and a debt-to-equity ratio of 0.78. The business has a 50 day moving average of $82.40 and a 200-day moving average of $73.71. CECO Environmental has a 52 week low of $42.78 and a 52 week high of $101.24.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results on Monday, August 10th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.21. The company had revenue of $284.96 million for the quarter, compared to analyst estimates of $282.21 million. CECO Environmental had a positive return on equity of 17.56% and a negative net margin of 3.39%.The firm’s revenue was up 53.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 earnings per share. Equities research analysts predict that CECO Environmental will post 2.12 earnings per share for the current fiscal year.

Insider Transactions at CECO Environmental

In related news, Director Richard F. Wallman purchased 20,000 shares of the stock in a transaction dated Monday, June 1st. The stock was purchased at an average price of $76.85 per share, with a total value of $1,537,000.00. Following the transaction, the director directly owned 105,500 shares in the company, valued at $8,107,675. This trade represents a 23.39% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Peter K. Johansson sold 30,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $96.49, for a total transaction of $2,894,700.00. Following the completion of the transaction, the chief financial officer owned 40,746 shares in the company, valued at approximately $3,931,581.54. The trade was a 42.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 18.40% of the company’s stock.

Institutional Trading of CECO Environmental

A number of institutional investors and hedge funds have recently bought and sold shares of CECO. Caitong International Asset Management Co. Ltd bought a new position in shares of CECO Environmental in the third quarter worth approximately $25,000. Morton Brown Family Wealth LLC bought a new stake in shares of CECO Environmental during the first quarter valued at approximately $29,000. Allworth Financial LP bought a new stake in shares of CECO Environmental during the second quarter valued at approximately $29,000. Advisory Services Network LLC purchased a new position in CECO Environmental in the 3rd quarter worth approximately $31,000. Finally, GAMMA Investing LLC raised its holdings in CECO Environmental by 71.6% in the 2nd quarter. GAMMA Investing LLC now owns 369 shares of the company’s stock worth $33,000 after acquiring an additional 154 shares during the last quarter. 68.08% of the stock is currently owned by institutional investors.

About CECO Environmental

CECO Environmental Corp. (NASDAQ: CECO) is a global technology provider specializing in engineered solutions that help industrial and commercial customers manage air emissions, process fluids and optimize energy use. The company develops custom-engineered systems and modular packages designed to meet evolving environmental regulations and improve operational efficiency across diverse production processes.

CECO’s core offerings include air pollution control equipment—such as scrubbers, cyclones, fabric and cartridge filters—and industrial process filtration systems for applications ranging from particulate removal to oil-water separation.