Northland Securities Forecasts Strong Price Appreciation for CECO Environmental (NASDAQ:CECO) Stock

CECO Environmental (NASDAQ:CECO) had its price target raised by Northland Securities from $35.00 to $38.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price objective would suggest a potential upside of 28.86% from the stock’s current price.

CECO has been the subject of a number of other reports. Needham & Company LLC decreased their price objective on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. HC Wainwright reissued a “buy” rating and issued a $35.00 price target on shares of CECO Environmental in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $35.00.

CECO Environmental Price Performance

Shares of NASDAQ CECO opened at $29.49 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The firm has a market capitalization of $1.03 billion, a PE ratio of 89.37, a P/E/G ratio of 2.92 and a beta of 1.41. CECO Environmental has a 1-year low of $18.50 and a 1-year high of $35.16. The business’s fifty day moving average price is $28.57 and its two-hundred day moving average price is $27.79.

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

Hedge Funds Weigh In On CECO Environmental

Several hedge funds have recently modified their holdings of CECO. Hood River Capital Management LLC acquired a new stake in shares of CECO Environmental in the second quarter valued at $15,495,000. Robeco Schweiz AG lifted its holdings in CECO Environmental by 375.2% in the 2nd quarter. Robeco Schweiz AG now owns 565,255 shares of the company’s stock valued at $16,308,000 after acquiring an additional 446,305 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in shares of CECO Environmental during the 2nd quarter valued at about $11,857,000. Van ECK Associates Corp grew its stake in shares of CECO Environmental by 466.4% in the 3rd quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock worth $10,082,000 after purchasing an additional 312,803 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings 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 in the last quarter. 68.08% of the stock is currently owned by institutional investors and hedge funds.

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.