Northland Securities Increases CECO Environmental (NASDAQ:CECO) Price Target to $38.00

CECO Environmental (NASDAQ:CECO) had its target price hoisted by Northland Securities from $35.00 to $38.00 in a report released on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on CECO. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of CECO Environmental in a research report on Wednesday, October 30th. Needham & Company LLC lowered their price target on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $35.00.

CECO Environmental Price Performance

CECO stock opened at $29.49 on Friday. CECO Environmental has a 52-week low of $18.50 and a 52-week high of $35.16. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 89.37, a price-to-earnings-growth ratio of 2.92 and a beta of 1.41. The business has a fifty day moving average of $28.53 and a two-hundred day moving average of $27.76.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The business had revenue of $135.50 million for the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 earnings per share. As a group, research analysts anticipate that CECO Environmental will post 0.79 earnings per share for the current year.

Hedge Funds Weigh In On CECO Environmental

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. increased its position in shares of CECO Environmental by 71.6% during 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 during the period. Quest Partners LLC acquired a new position in CECO Environmental during the 3rd quarter worth $69,000. Morse Asset Management Inc purchased a new stake in CECO Environmental during the 3rd quarter worth about $76,000. Eastern Bank acquired a new stake in CECO Environmental in the 3rd quarter valued at about $113,000. Finally, SG Americas Securities LLC purchased a new position in shares of CECO Environmental in the 2nd quarter valued at about $201,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

About CECO Environmental

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.