Roth Mkm Raises CECO Environmental (NASDAQ:CECO) Price Target to $35.00

CECO Environmental (NASDAQ:CECO) had its target price increased by equities researchers at Roth Mkm from $26.00 to $35.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s price objective would indicate a potential upside of 22.46% from the company’s previous close.

A number of other research analysts also recently issued reports on CECO. Craig Hallum boosted their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC boosted their target price on shares of CECO Environmental from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, HC Wainwright upped their price objective on shares of CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $33.40.

CECO Environmental Trading Up 1.7 %

CECO traded up $0.47 during trading on Wednesday, reaching $28.58. 70,672 shares of the company’s stock were exchanged, compared to its average volume of 285,324. CECO Environmental has a one year low of $11.46 and a one year high of $31.55. The company has a current ratio of 1.38, a quick ratio of 1.19 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $998.59 million, a PE ratio of 81.66, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The firm has a fifty day moving average price of $26.72 and a two-hundred day moving average price of $23.67.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The company had revenue of $137.50 million for the quarter, compared to analyst estimates of $143.33 million. During the same period in the prior year, the firm posted $0.15 EPS. The company’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts forecast that CECO Environmental will post 0.93 earnings per share for the current fiscal year.

Insider Activity at CECO Environmental

In related news, Director Richard F. Wallman purchased 4,000 shares of CECO Environmental stock in a transaction that occurred on Tuesday, May 21st. The stock was bought at an average price of $24.50 per share, for a total transaction of $98,000.00. Following the completion of the transaction, the director now owns 205,319 shares in the company, valued at $5,030,315.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On CECO Environmental

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in CECO Environmental by 1.7% during the first quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company’s stock worth $35,138,000 after purchasing an additional 24,812 shares during the period. First Eagle Investment Management LLC lifted its position in CECO Environmental by 22.7% during the first quarter. First Eagle Investment Management LLC now owns 592,864 shares of the company’s stock valued at $13,648,000 after buying an additional 109,500 shares during the period. Russell Investments Group Ltd. raised its position in shares of CECO Environmental by 28.3% in the 4th quarter. Russell Investments Group Ltd. now owns 448,248 shares of the company’s stock worth $9,090,000 after purchasing an additional 98,951 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in shares of CECO Environmental by 4.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 338,640 shares of the company’s stock worth $7,795,000 after purchasing an additional 14,690 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of CECO Environmental by 651,526.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 293,232 shares of the company’s stock worth $8,460,000 after purchasing an additional 293,187 shares during the last quarter. 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.