CECO Environmental (NASDAQ:CECO) Given New $26.00 Price Target at Needham & Company LLC

CECO Environmental (NASDAQ:CECO) had its target price increased by Needham & Company LLC from $23.00 to $26.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 20.26% from the company’s current price.

CECO has been the subject of a number of other research reports. Northland Securities raised their target price on CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Roth Mkm raised their price objective on CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, HC Wainwright raised their price objective on CECO Environmental from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $27.25.

CECO Environmental Trading Down 14.8 %

CECO opened at $21.62 on Wednesday. The stock has a market cap of $753.89 million, a PE ratio of 58.43, a PEG ratio of 1.76 and a beta of 1.23. The company has a quick ratio of 1.22, a current ratio of 1.39 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average of $22.59 and a 200-day moving average of $20.30. CECO Environmental has a 52 week low of $10.68 and a 52 week high of $25.82.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, April 30th. The company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The company had revenue of $126.30 million during the quarter, compared to analysts’ expectations of $135.82 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.37%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. Equities research analysts predict that CECO Environmental will post 0.96 earnings per share for the current fiscal year.

Insider Activity at CECO Environmental

In other CECO Environmental news, Director Laurie Siegel acquired 2,500 shares of the stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $19.87 per share, for a total transaction of $49,675.00. Following the completion of the transaction, the director now directly owns 7,906 shares of the company’s stock, valued at $157,092.22. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 16.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On CECO Environmental

Large investors have recently made changes to their positions in the business. AJOVista LLC purchased a new position in shares of CECO Environmental in the fourth quarter valued at about $57,000. Tower Research Capital LLC TRC lifted its position in shares of CECO Environmental by 89.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $94,000 after buying an additional 2,195 shares in the last quarter. Kessler Investment Group LLC purchased a new stake in shares of CECO Environmental in the fourth quarter worth about $125,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of CECO Environmental in the fourth quarter worth about $159,000. Finally, Guyasuta Investment Advisors Inc. purchased a new stake in shares of CECO Environmental in the fourth quarter worth about $203,000. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

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.