CECO Environmental (NASDAQ:CECO) Rating Lowered to Neutral at HC Wainwright

HC Wainwright lowered shares of CECO Environmental (NASDAQ:CECO) from a buy rating to a neutral rating in a research note issued to investors on Friday, MarketBeat reports.

CECO has been the topic of a number of other research reports. Needham & Company LLC reduced their price objective on CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Northland Securities upped their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Finally, Craig Hallum raised their price objective on shares of CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.20.

CECO Environmental Trading Down 7.9 %

Shares of CECO Environmental stock opened at $29.60 on Friday. The stock has a market capitalization of $1.04 billion, a P/E ratio of 89.70, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43. CECO Environmental has a 12-month low of $18.50 and a 12-month 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 company has a 50-day simple moving average of $30.71 and a 200 day simple moving average of $28.61.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). The firm 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 business’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 EPS. Research analysts expect that CECO Environmental will post 0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CECO Environmental

Several large investors have recently made changes to their positions in the company. Hood River Capital Management LLC bought a new stake in CECO Environmental during the 2nd quarter worth about $15,495,000. Thrivent Financial for Lutherans acquired a new stake in shares of CECO Environmental during the 2nd quarter worth approximately $11,857,000. Van ECK Associates Corp grew its position in shares of CECO Environmental by 466.4% during the 3rd quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock worth $10,082,000 after buying an additional 312,803 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in CECO Environmental by 65.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 484,518 shares of the company’s stock valued at $13,663,000 after acquiring an additional 191,286 shares during the last quarter. Finally, Fred Alger Management LLC raised its position in shares of CECO Environmental by 135.9% during the 3rd quarter. Fred Alger Management LLC now owns 312,810 shares of the company’s stock valued at $8,821,000 after acquiring an additional 180,221 shares during the last quarter. 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.