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

CECO Environmental (NASDAQ:CECO) had its price objective raised by Northland Securities from $35.00 to $38.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Northland Securities’ price target indicates a potential upside of 28.86% from the stock’s current price.

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

CECO Environmental Stock Down 0.0 %

Shares of CECO Environmental stock opened at $29.49 on Friday. CECO Environmental has a twelve month low of $18.50 and a twelve month high of $35.16. 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 company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average price of $28.57 and a 200 day moving average price of $27.79.

CECO Environmental (NASDAQ:CECO) last posted its earnings results 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 company had revenue of $135.50 million during the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. CECO Environmental’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. Equities research analysts forecast that CECO Environmental will post 0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CECO Environmental

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its holdings in CECO Environmental by 23.5% in the third quarter. FMR LLC now owns 786,308 shares of the company’s stock valued at $22,174,000 after buying an additional 149,777 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of CECO Environmental by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 689,487 shares of the company’s stock valued at $19,448,000 after acquiring an additional 11,857 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of CECO Environmental by 10.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 657,764 shares of the company’s stock valued at $18,976,000 after acquiring an additional 64,900 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in CECO Environmental by 37.4% during the second quarter. Driehaus Capital Management LLC now owns 586,249 shares of the company’s stock worth $16,913,000 after purchasing an additional 159,485 shares during the last quarter. Finally, Robeco Schweiz AG boosted its holdings in CECO Environmental by 375.2% in the second quarter. Robeco Schweiz AG now owns 565,255 shares of the company’s stock worth $16,308,000 after purchasing an additional 446,305 shares during the period. Institutional investors 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.