Needham & Company LLC Reaffirms Buy Rating for CECO Environmental (NASDAQ:CECO)

Needham & Company LLC reiterated their buy rating on shares of CECO Environmental (NASDAQ:CECO) in a report published on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $33.00 target price on the stock.

Several other equities analysts have also commented on the company. Northland Securities raised their price target on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Craig Hallum lifted their target price on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, HC Wainwright reiterated a “neutral” rating on shares of CECO Environmental in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, CECO Environmental currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

CECO Environmental Stock Performance

Shares of CECO Environmental stock opened at $24.88 on Wednesday. The firm has a market cap of $870.28 million, a P/E ratio of 75.40, a P/E/G ratio of 1.39 and a beta of 1.41. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. CECO Environmental has a 12 month low of $18.50 and a 12 month high of $35.16. The stock’s fifty day moving average price is $28.42 and its 200-day moving average price is $28.22.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $158.60 million for the quarter, compared to analyst estimates of $156.09 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 earnings per share. On average, equities research analysts expect that CECO Environmental will post 0.67 earnings per share for the current fiscal year.

Insider Buying and Selling at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman purchased 1,000 shares of the stock in a transaction on Wednesday, February 26th. The stock was acquired at an average price of $25.15 per share, with a total value of $25,150.00. Following the completion of the acquisition, the director now owns 207,117 shares in the company, valued at $5,208,992.55. The trade was a 0.49 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 16.90% of the stock is owned by insiders.

Institutional Investors Weigh In On CECO Environmental

Institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. boosted its holdings in CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after acquiring an additional 591 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in CECO Environmental in the fourth quarter worth about $56,000. Heck Capital Advisors LLC acquired a new stake in CECO Environmental in the fourth quarter worth about $74,000. Quest Partners LLC acquired a new stake in CECO Environmental in the third quarter worth about $69,000. Finally, Morse Asset Management Inc acquired a new stake in CECO Environmental in the third quarter worth about $76,000. Institutional investors and hedge funds 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.