CECO Environmental (NASDAQ:CECO) Price Target Raised to $28.00 at Craig Hallum

CECO Environmental (NASDAQ:CECO) had its price target boosted by Craig Hallum from $25.00 to $28.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

CECO has been the subject of several other reports. HC Wainwright reaffirmed a buy rating and set a $30.00 price objective on shares of CECO Environmental in a report on Wednesday. Needham & Company LLC lifted their price target on CECO Environmental from $23.00 to $26.00 and gave the stock a buy rating in a research note on Wednesday. Roth Mkm increased their price objective on shares of CECO Environmental from $22.00 to $25.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Finally, Northland Securities lifted their target price on shares of CECO Environmental from $27.00 to $28.00 and gave the stock an outperform rating in a research report on Wednesday, March 6th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CECO Environmental has an average rating of Buy and a consensus price target of $27.40.

CECO Environmental Stock Down 2.3 %

CECO opened at $22.45 on Wednesday. The business has a 50 day simple moving average of $22.70 and a 200-day simple moving average of $20.36. CECO Environmental has a 12 month low of $10.68 and a 12 month high of $25.82. The stock has a market capitalization of $784.40 million, a P/E ratio of 64.14, a P/E/G ratio of 1.57 and a beta of 1.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.38 and a quick ratio of 1.22.

CECO Environmental (NASDAQ:CECO) last issued its earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The company had revenue of $126.30 million for the quarter, compared to analyst estimates of $135.82 million. During the same period in the prior year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, equities analysts anticipate that CECO Environmental will post 0.94 earnings per share for the current fiscal year.

Insider Activity at CECO Environmental

In other news, Director Richard F. Wallman bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average price of $21.95 per share, with a total value of $109,750.00. Following the purchase, the director now owns 191,853 shares of the company’s stock, valued at approximately $4,211,173.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CECO Environmental news, Director Laurie Siegel acquired 2,500 shares of the stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average price of $19.87 per share, with a total value of $49,675.00. Following the completion of the transaction, the director now directly owns 7,906 shares in the company, valued at $157,092.22. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard F. Wallman bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average price of $21.95 per share, with a total value of $109,750.00. Following the completion of the purchase, the director now directly owns 191,853 shares of the company’s stock, valued at approximately $4,211,173.35. The disclosure for this purchase can be found here. Corporate insiders own 16.90% of the company’s stock.

Institutional Trading of CECO Environmental

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of CECO Environmental by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,440,579 shares of the company’s stock worth $23,006,000 after acquiring an additional 13,747 shares during the period. RK Capital Management LLC increased its position in CECO Environmental by 36.6% during the third quarter. RK Capital Management LLC now owns 884,347 shares of the company’s stock worth $14,123,000 after purchasing an additional 237,093 shares during the last quarter. Wellington Management Group LLP raised its stake in CECO Environmental by 271.2% during the third quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock worth $10,047,000 after purchasing an additional 459,646 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of CECO Environmental by 9.7% in the 4th quarter. First Eagle Investment Management LLC now owns 483,364 shares of the company’s stock valued at $9,803,000 after purchasing an additional 42,731 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of CECO Environmental by 28.3% during the 4th quarter. Russell Investments Group Ltd. now owns 448,248 shares of the company’s stock valued at $9,090,000 after buying an additional 98,951 shares during the period. Hedge funds and other institutional investors own 68.08% of the company’s stock.

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.