CECO Environmental (NASDAQ:CECO) Given New $57.00 Price Target at Needham & Company LLC

CECO Environmental (NASDAQ:CECO) had its price objective upped by Needham & Company LLC from $52.00 to $57.00 in a research report released on Wednesday, MarketBeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

CECO has been the topic of a number of other research reports. Lake Street Capital reaffirmed a “buy” rating and issued a $56.00 price target on shares of CECO Environmental in a research note on Wednesday, July 30th. Citigroup reaffirmed an “outperform” rating on shares of CECO Environmental in a research note on Wednesday, July 30th. HC Wainwright lifted their price target on shares of CECO Environmental from $33.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Northland Securities set a $60.00 price target on shares of CECO Environmental in a research note on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CECO Environmental in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, CECO Environmental has a consensus rating of “Moderate Buy” and an average target price of $53.60.

CECO Environmental Stock Down 0.9%

CECO Environmental stock opened at $48.04 on Wednesday. The company’s 50 day simple moving average is $49.16 and its 200 day simple moving average is $36.93. CECO Environmental has a fifty-two week low of $17.57 and a fifty-two week high of $53.88. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 3.27 and a beta of 1.28. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.33 and a quick ratio of 1.13.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). CECO Environmental had a return on equity of 10.84% and a net margin of 7.22%.The firm had revenue of $197.60 million for the quarter, compared to the consensus estimate of $190.36 million. During the same period in the previous year, the business earned $0.14 EPS. The firm’s revenue was up 45.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that CECO Environmental will post 0.67 EPS for the current year.

Insider Transactions at CECO Environmental

In other news, CEO Todd R. Gleason sold 98,101 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $50.45, for a total value of $4,949,195.45. Following the completion of the sale, the chief executive officer owned 410,835 shares of the company’s stock, valued at approximately $20,726,625.75. The trade was a 19.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard F. Wallman bought 3,000 shares of CECO Environmental stock in a transaction dated Friday, September 5th. The stock was acquired at an average cost of $46.93 per share, with a total value of $140,790.00. Following the transaction, the director owned 80,500 shares of the company’s stock, valued at $3,777,865. This trade represents a 3.87% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 7,500 shares of company stock valued at $339,915 and sold 300,000 shares valued at $15,104,854. Insiders own 18.40% of the company’s stock.

Institutional Investors Weigh In On CECO Environmental

Several institutional investors and hedge funds have recently bought and sold shares of CECO. Granahan Investment Management LLC bought a new stake in CECO Environmental during the first quarter worth about $7,237,000. Segall Bryant & Hamill LLC bought a new stake in CECO Environmental during the second quarter worth about $7,394,000. Osterweis Capital Management Inc. bought a new position in shares of CECO Environmental in the second quarter worth about $7,175,000. Wellington Management Group LLP lifted its holdings in shares of CECO Environmental by 74.6% in the first quarter. Wellington Management Group LLP now owns 541,980 shares of the company’s stock worth $12,357,000 after acquiring an additional 231,613 shares during the last quarter. Finally, CSM Advisors LLC bought a new position in shares of CECO Environmental in the second quarter worth about $5,248,000. 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.