Needham & Company LLC Reaffirms “Buy” Rating for CECO Environmental (NASDAQ:CECO)

CECO Environmental (NASDAQ:CECO)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They currently have a $80.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential upside of 28.87% from the stock’s previous close.

CECO has been the topic of several other reports. Roth Mkm boosted their price objective on CECO Environmental from $58.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Lake Street Capital reiterated a “buy” rating and set a $80.00 target price on shares of CECO Environmental in a research report on Wednesday, February 25th. HC Wainwright lifted their target price on CECO Environmental from $55.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Weiss Ratings cut CECO Environmental from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, March 4th. Finally, Northland Securities upped their price target on CECO Environmental from $60.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 24th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $78.20.

CECO Environmental Stock Performance

CECO opened at $62.08 on Thursday. The company’s 50 day moving average is $65.51 and its 200 day moving average is $57.79. The company has a current ratio of 1.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.65. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 45.65 and a beta of 1.39. CECO Environmental has a 12-month low of $17.57 and a 12-month high of $81.72.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.35). The business had revenue of $214.69 million during the quarter, compared to the consensus estimate of $205.39 million. CECO Environmental had a return on equity of 10.60% and a net margin of 6.46%.The firm’s revenue was up 35.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 earnings per share. On average, equities research analysts predict that CECO Environmental will post 0.67 EPS for the current year.

Institutional Trading of CECO Environmental

Several hedge funds and other institutional investors have recently bought and sold shares of CECO. SageView Advisory Group LLC raised its holdings in shares of CECO Environmental by 1.0% during the second quarter. SageView Advisory Group LLC now owns 29,595 shares of the company’s stock worth $838,000 after purchasing an additional 290 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of CECO Environmental by 8.0% in the fourth quarter. ProShare Advisors LLC now owns 5,390 shares of the company’s stock worth $323,000 after buying an additional 399 shares during the last quarter. Osaic Holdings Inc. raised its position in CECO Environmental by 3.5% during the second quarter. Osaic Holdings Inc. now owns 12,297 shares of the company’s stock valued at $348,000 after acquiring an additional 412 shares in the last quarter. Ellsworth Advisors LLC grew its stake in shares of CECO Environmental by 3.2% during the 4th quarter. Ellsworth Advisors LLC now owns 15,047 shares of the company’s stock worth $996,000 after purchasing an additional 462 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of CECO Environmental during the 3rd quarter worth approximately $25,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

CECO Environmental Company Profile

CECO Environmental Corp. (NASDAQ: CECO) is a global technology provider specializing in engineered solutions that help industrial and commercial customers manage air emissions, process fluids and optimize energy use. The company develops custom-engineered systems and modular packages designed to meet evolving environmental regulations and improve operational efficiency across diverse production processes.

CECO’s core offerings include air pollution control equipment—such as scrubbers, cyclones, fabric and cartridge filters—and industrial process filtration systems for applications ranging from particulate removal to oil-water separation.