CECO Environmental (NASDAQ:CECO) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

CECO Environmental (NASDAQ:CECO) had its price objective lifted by investment analysts at Needham & Company LLC from $44.00 to $52.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 8.38% from the stock’s current price.

CECO has been the topic of a number of other research reports. Northland Securities set a $51.00 target price on shares of CECO Environmental in a research report on Wednesday, July 30th. Lake Street Capital reaffirmed a “buy” rating and issued a $56.00 target price on shares of CECO Environmental in a research report on Wednesday, July 30th. HC Wainwright upped their target price on shares of CECO Environmental from $33.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Finally, Citigroup reaffirmed an “outperform” rating on shares of CECO Environmental in a research report on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating, According to MarketBeat.com, CECO Environmental currently has an average rating of “Buy” and an average price target of $50.80.

CECO Environmental Trading Up 3.0%

Shares of CECO stock opened at $47.98 on Thursday. The company’s 50-day moving average price is $36.05 and its 200-day moving average price is $28.27. CECO Environmental has a twelve month low of $17.57 and a twelve month high of $48.31. The company has a current ratio of 1.34, a quick ratio of 1.13 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 2.71 and a beta of 1.39.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, July 29th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. CECO Environmental had a net margin of 7.99% and a return on equity of 10.00%. The company had revenue of $185.39 million for the quarter, compared to analysts’ expectations of $178.66 million. CECO Environmental has set its FY 2025 guidance at EPS. As a group, equities analysts predict that CECO Environmental will post 0.67 earnings per share for the current year.

Insider Transactions at CECO Environmental

In related news, Director Jason Dezwirek sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $43.54, for a total transaction of $1,306,200.00. Following the sale, the director directly owned 200,000 shares in the company, valued at approximately $8,708,000. This represents a 13.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Claudio A. Mannarino sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $41.51, for a total transaction of $830,200.00. Following the sale, the director owned 77,589 shares in the company, valued at $3,220,719.39. The trade was a 20.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 120,000 shares of company stock worth $5,128,900 over the last quarter. Insiders own 18.40% of the company’s stock.

Institutional Trading of CECO Environmental

Large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its stake in shares of CECO Environmental by 224.7% during the second quarter. Farther Finance Advisors LLC now owns 1,445 shares of the company’s stock worth $41,000 after buying an additional 1,000 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of CECO Environmental during the fourth quarter worth approximately $56,000. Heck Capital Advisors LLC purchased a new stake in shares of CECO Environmental during the fourth quarter worth approximately $74,000. Raymond James Financial Inc. purchased a new stake in shares of CECO Environmental during the second quarter worth approximately $102,000. Finally, Canada Pension Plan Investment Board increased its stake in shares of CECO Environmental by 6,200.0% during the second quarter. Canada Pension Plan Investment Board now owns 6,300 shares of the company’s stock worth $178,000 after buying an additional 6,200 shares during the period. 68.08% of the stock is currently 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.