CECO Environmental (NASDAQ:CECO) Shares Gap Up – Here’s What Happened

Shares of CECO Environmental Corp. (NASDAQ:CECO) gapped up before the market opened on Monday . The stock had previously closed at $74.30, but opened at $77.82. CECO Environmental shares last traded at $75.86, with a volume of 96,996 shares.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Weiss Ratings raised shares of CECO Environmental from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Lake Street Capital reaffirmed a “buy” rating and set a $80.00 price target on shares of CECO Environmental in a research note on Wednesday, February 25th. Zacks Research raised shares of CECO Environmental from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Craig Hallum reaffirmed a “buy” rating and set a $103.00 price target on shares of CECO Environmental in a research note on Tuesday, April 28th. Finally, Needham & Company LLC lifted their price target on shares of CECO Environmental from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, CECO Environmental has an average rating of “Buy” and a consensus target price of $86.83.

CECO Environmental Stock Performance

The company has a market capitalization of $2.78 billion, a PE ratio of 209.73 and a beta of 1.53. The company has a current ratio of 1.33, a quick ratio of 1.18 and a debt-to-equity ratio of 0.78. The firm’s 50-day simple moving average is $61.70 and its 200-day simple moving average is $60.51.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.24. The company had revenue of $205.92 million during the quarter, compared to analysts’ expectations of $198.88 million. CECO Environmental had a net margin of 1.70% and a return on equity of 13.69%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. On average, research analysts predict that CECO Environmental Corp. will post 1.74 earnings per share for the current year.

Institutional Investors Weigh In On CECO Environmental

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in CECO Environmental by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,780,596 shares of the company’s stock valued at $106,569,000 after buying an additional 9,840 shares during the period. American Century Companies Inc. raised its holdings in shares of CECO Environmental by 16,844.6% in the 3rd quarter. American Century Companies Inc. now owns 1,257,796 shares of the company’s stock valued at $64,399,000 after purchasing an additional 1,250,373 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of CECO Environmental by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 729,700 shares of the company’s stock valued at $43,680,000 after purchasing an additional 8,734 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of CECO Environmental by 104.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 718,992 shares of the company’s stock valued at $43,032,000 after purchasing an additional 366,611 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of CECO Environmental by 3.0% in the 4th quarter. William Blair Investment Management LLC now owns 706,273 shares of the company’s stock valued at $42,270,000 after purchasing an additional 20,531 shares in the last quarter. 68.08% of the stock is owned by hedge funds and other institutional investors.

About CECO Environmental

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.