CECO Environmental (NASDAQ:CECO) Stock Price Expected to Rise, Craig Hallum Analyst Says

CECO Environmental (NASDAQ:CECO) had its target price hoisted by equities research analysts at Craig Hallum from $34.00 to $40.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price objective points to a potential upside of 21.58% from the stock’s previous close.

CECO has been the subject of a number of other research reports. Northland Securities increased their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Needham & Company LLC dropped their price objective on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, HC Wainwright restated a “buy” rating and issued a $35.00 price target on shares of CECO Environmental in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CECO Environmental has an average rating of “Buy” and an average target price of $36.20.

CECO Environmental Trading Up 4.1 %

Shares of CECO traded up $1.29 during trading hours on Monday, reaching $32.90. The stock had a trading volume of 127,472 shares, compared to its average volume of 204,312. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. CECO Environmental has a 52 week low of $18.50 and a 52 week high of $35.16. The firm has a 50-day moving average of $29.24 and a 200 day moving average of $28.29. The company has a market cap of $1.15 billion, a P/E ratio of 99.70, a P/E/G ratio of 2.92 and a beta of 1.43.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm had revenue of $135.50 million for the quarter, compared to the consensus estimate of $155.94 million. During the same quarter last year, the company posted $0.22 EPS. CECO Environmental’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, sell-side analysts expect that CECO Environmental will post 0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CECO Environmental

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Horizon Advisors Inc. increased its position in CECO Environmental by 71.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after purchasing an additional 591 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of CECO Environmental in the third quarter valued at about $69,000. Morse Asset Management Inc acquired a new position in shares of CECO Environmental in the third quarter worth approximately $76,000. Eastern Bank bought a new stake in CECO Environmental in the third quarter valued at approximately $113,000. Finally, Arizona State Retirement System bought a new position in CECO Environmental during the 2nd quarter worth approximately $239,000. 68.08% of the stock is currently owned by institutional investors and hedge funds.

About CECO Environmental

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.