JPMorgan Chase & Co. Initiates Coverage on CECO Environmental (NASDAQ:CECO)

Research analysts at JPMorgan Chase & Co. started coverage on shares of CECO Environmental (NASDAQ:CECO) in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage set an “overweight” rating and a $130.00 price target on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 63.46% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Roth Capital reiterated a “buy” rating and set a $85.00 price objective on shares of CECO Environmental in a research note on Wednesday, April 29th. Craig Hallum restated a “buy” rating and set a $103.00 target price on shares of CECO Environmental in a research note on Tuesday, April 28th. Weiss Ratings lowered shares of CECO Environmental from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Lake Street Capital increased their price objective on shares of CECO Environmental from $80.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Finally, Zacks Research upgraded shares of CECO Environmental from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $106.71.

CECO Environmental Price Performance

NASDAQ CECO opened at $79.53 on Thursday. The company has a market capitalization of $2.85 billion, a PE ratio of 214.95 and a beta of 1.47. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.18 and a current ratio of 1.33. The business’s fifty day moving average is $85.47 and its 200 day moving average is $71.55. CECO Environmental has a fifty-two week low of $29.68 and a fifty-two week high of $101.24.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. CECO Environmental had a return on equity of 13.69% and a net margin of 1.70%.The business had revenue of $205.92 million during the quarter, compared to analysts’ expectations of $198.88 million. During the same quarter in the prior year, the business posted $0.10 earnings per share. The business’s quarterly revenue was up 16.5% on a year-over-year basis. Sell-side analysts predict that CECO Environmental will post 1.96 earnings per share for the current year.

Insider Buying and Selling at CECO Environmental

In other news, Director Jason Dezwirek sold 34,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $96.61, for a total transaction of $3,284,740.00. Following the sale, the director owned 166,000 shares in the company, valued at $16,037,260. This trade represents a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Peter K. Johansson sold 30,000 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $96.49, for a total transaction of $2,894,700.00. Following the completion of the transaction, the chief financial officer directly owned 40,746 shares in the company, valued at $3,931,581.54. This trade represents a 42.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 18.40% of the company’s stock.

Institutional Trading of CECO Environmental

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of CECO Environmental by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 1,780,596 shares of the company’s stock valued at $106,569,000 after purchasing an additional 9,840 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of CECO Environmental by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 903,291 shares of the company’s stock worth $53,813,000 after buying an additional 7,751 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of CECO Environmental by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 729,700 shares of the company’s stock worth $43,680,000 after buying an additional 8,734 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in CECO Environmental by 104.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 718,992 shares of the company’s stock valued at $43,032,000 after buying an additional 366,611 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in CECO Environmental by 3.0% during the fourth quarter. William Blair Investment Management LLC now owns 706,273 shares of the company’s stock valued at $42,270,000 after buying an additional 20,531 shares during the last quarter. Hedge funds and other institutional investors own 68.08% of the company’s stock.

CECO Environmental Company Profile

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.