CECO Environmental Corp. (NASDAQ:CECO) Receives Consensus Rating of “Moderate Buy” from Brokerages

CECO Environmental Corp. (NASDAQ:CECO) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $52.60.

A number of equities analysts recently commented on CECO shares. Weiss Ratings restated a “buy (b-)” rating on shares of CECO Environmental in a report on Wednesday, October 8th. Needham & Company LLC upped their price objective on shares of CECO Environmental from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Lake Street Capital reaffirmed a “buy” rating and set a $56.00 target price on shares of CECO Environmental in a research note on Wednesday, July 30th. Northland Securities set a $60.00 price target on shares of CECO Environmental in a research report on Monday. Finally, HC Wainwright increased their price target on shares of CECO Environmental from $33.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th.

CECO Environmental Stock Up 2.7%

Shares of NASDAQ CECO opened at $50.21 on Tuesday. The firm’s fifty day moving average is $48.49 and its 200 day moving average is $35.44. CECO Environmental has a 52 week low of $17.57 and a 52 week high of $53.88. The company has a quick ratio of 1.13, a current ratio of 1.34 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 3.29 and a beta of 1.28.

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

Insider Transactions at CECO Environmental

In related news, Director Claudio A. Mannarino sold 20,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $41.51, for a total value of $830,200.00. Following the completion of the transaction, the director directly owned 77,589 shares in the company, valued at $3,220,719.39. This trade represents a 20.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jason Dezwirek sold 70,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $42.75, for a total transaction of $2,992,500.00. Following the sale, the director directly owned 230,000 shares in the company, valued at $9,832,500. The trade was a 23.33% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders acquired 7,500 shares of company stock worth $339,915 and sold 420,000 shares worth $20,233,754. 18.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CECO Environmental

Large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its stake in shares of CECO Environmental by 224.7% in the 2nd 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 last quarter. Raymond James Financial Inc. bought a new stake in CECO Environmental in the second quarter worth $102,000. Rockwood Wealth Management LLC purchased a new stake in shares of CECO Environmental in the third quarter worth $215,000. Canada Pension Plan Investment Board increased its holdings 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 valued at $178,000 after acquiring an additional 6,200 shares in the last quarter. Finally, Brookstone Capital Management purchased a new position in shares of CECO Environmental in the 3rd quarter worth about $326,000. 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.