CECO Environmental Corp. (NASDAQ:CECO) Given Consensus Rating of “Moderate Buy” by Brokerages

CECO Environmental Corp. (NASDAQ:CECO) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $53.60.

A number of research firms have commented on CECO. Zacks Research downgraded shares of CECO Environmental from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Weiss Ratings restated a “buy (b-)” rating on shares of CECO Environmental in a research report on Wednesday, October 8th. HC Wainwright raised their target price on CECO Environmental from $33.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Citigroup restated an “outperform” rating on shares of CECO Environmental in a research report on Wednesday, July 30th. Finally, Needham & Company LLC increased their price target on CECO Environmental from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th.

CECO Environmental Stock Performance

Shares of NASDAQ:CECO opened at $53.30 on Friday. CECO Environmental has a one year low of $17.57 and a one year high of $56.19. The company has a market cap of $1.90 billion, a P/E ratio of 37.80, a PEG ratio of 3.25 and a beta of 1.27. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.13 and a current ratio of 1.33. The business’s 50-day simple moving average is $49.87 and its 200 day simple moving average is $38.39.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Wednesday, October 29th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.25 by $0.01. CECO Environmental had a return on equity of 10.84% and a net margin of 7.22%.The company had revenue of $197.60 million during the quarter, compared to analysts’ expectations of $190.36 million. During the same period in the prior year, the business posted $0.14 EPS. The business’s revenue was up 45.8% on a year-over-year basis. On average, sell-side analysts forecast that CECO Environmental will post 0.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CECO Environmental news, Director Richard F. Wallman purchased 3,000 shares of the stock in a transaction dated Friday, September 5th. The shares were acquired at an average price of $46.93 per share, for a total transaction of $140,790.00. Following the completion of the acquisition, the director owned 80,500 shares of the company’s stock, valued at $3,777,865. This represents a 3.87% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd R. Gleason sold 98,101 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $50.45, for a total transaction of $4,949,195.45. Following the sale, the chief executive officer owned 410,835 shares of the company’s stock, valued at approximately $20,726,625.75. This represents a 19.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have purchased 7,500 shares of company stock valued at $339,915 and have sold 300,000 shares valued at $15,104,854. Company insiders own 16.90% of the company’s stock.

Institutional Trading of CECO Environmental

A number of institutional investors have recently added to or reduced their stakes in CECO. Bank of New York Mellon Corp lifted its stake in shares of CECO Environmental by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 91,350 shares of the company’s stock worth $2,083,000 after buying an additional 1,687 shares during the last quarter. Foundry Partners LLC lifted its position in CECO Environmental by 14.0% in the first quarter. Foundry Partners LLC now owns 172,670 shares of the company’s stock worth $3,937,000 after purchasing an additional 21,200 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in CECO Environmental during the first quarter worth $1,695,000. Royce & Associates LP boosted its position in shares of CECO Environmental by 3.3% during the 1st quarter. Royce & Associates LP now owns 945,002 shares of the company’s stock valued at $21,546,000 after acquiring an additional 29,790 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of CECO Environmental by 7.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,652 shares of the company’s stock worth $266,000 after buying an additional 794 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.