CECO Environmental Corp. $CECO Stock: CenterBook Partners LP Raises Stake

CenterBook Partners LP boosted its holdings in CECO Environmental Corp. (TXSE:CECO) by 263.9% in the third quarter, HoldingsChannel reports. The firm owned 61,161 shares of the company’s stock after purchasing an additional 44,352 shares during the period. CenterBook Partners LP’s holdings in CECO Environmental were worth $4,259,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of CECO Environmental during the 2nd quarter worth approximately $392,358,000. Jupiter Topco LLC bought a new stake in shares of CECO Environmental in the 2nd quarter valued at $86,194,000. Dimensional Fund Advisors LP increased its stake in shares of CECO Environmental by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 903,291 shares of the company’s stock valued at $53,813,000 after acquiring an additional 7,751 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of CECO Environmental in the 2nd quarter valued at $40,461,000. Finally, Emerald Advisers LLC lifted its position in shares of CECO Environmental by 14.1% during the 1st quarter. Emerald Advisers LLC now owns 523,017 shares of the company’s stock valued at $31,161,000 after acquiring an additional 64,492 shares during the period. 68.08% of the stock is owned by institutional investors and hedge funds.

CECO Environmental Stock Performance

The firm has a 50 day moving average price of $64.75 and a 200 day moving average price of $71.28. The firm has a market capitalization of $2.56 billion, a PE ratio of -63.35 and a beta of 1.63. The company has a quick ratio of 1.18, a current ratio of 1.50 and a debt-to-equity ratio of 0.34. CECO Environmental Corp. has a one year low of $37.15 and a one year high of $101.24.

CECO Environmental (TXSE:CECO) last posted its earnings results on Monday, August 10th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. CECO Environmental had a positive return on equity of 7.36% and a negative net margin of 3.39%. The business had revenue of $284.96 million during the quarter, compared to analyst estimates of $282.21 million. During the same quarter in the previous year, the firm earned $0.26 EPS. The company’s quarterly revenue was up 53.7% compared to the same quarter last year. Research analysts forecast that CECO Environmental Corp. will post 2.43 EPS for the current year.

Analysts Set New Price Targets

CECO has been the topic of several research analyst reports. Northland Securities set a $125.00 target price on shares of CECO Environmental in a research note on Thursday, August 13th. JPMorgan Chase & Co. reduced their price target on shares of CECO Environmental from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. Weiss Ratings downgraded shares of CECO Environmental from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, September 16th. Zacks Research upgraded shares of CECO Environmental from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $110.00 price objective on shares of CECO Environmental in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.38.

CECO Environmental Company Profile

CECO Environmental Corp. (NASDAQ:CECO) is an industrial technology company that designs and supplies environmental and engineered equipment for industrial processes. Its solutions help customers control air pollution, manage industrial emissions, improve process efficiency and handle fluids in demanding operating environments.

The company’s product and service offerings include air pollution control systems, industrial ventilation and filtration equipment, scrubbers, fans, dust collection systems, thermal and heat-transfer equipment, pumps and other fluid-handling technologies.