Needham & Company LLC Increases CECO Environmental (NASDAQ:CECO) Price Target to $34.00

CECO Environmental (NASDAQ:CECO) had its price target hoisted by Needham & Company LLC from $33.00 to $34.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

CECO has been the topic of a number of other research reports. HC Wainwright raised shares of CECO Environmental from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Wednesday. Craig Hallum lifted their price target on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $36.00.

CECO Environmental Stock Performance

NASDAQ:CECO opened at $25.92 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The company has a market capitalization of $912.82 million, a P/E ratio of 78.55, a P/E/G ratio of 1.39 and a beta of 1.30. CECO Environmental has a 1 year low of $17.57 and a 1 year high of $35.16. The business has a fifty day simple moving average of $22.19 and a two-hundred day simple moving average of $26.42.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $176.70 million for the quarter, compared to analysts’ expectations of $151.53 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. CECO Environmental’s quarterly revenue was up 39.9% compared to the same quarter last year. On average, analysts expect that CECO Environmental will post 0.67 earnings per share for the current year.

Insider Transactions at CECO Environmental

In other CECO Environmental news, insider Peter K. Johansson sold 22,500 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $22.80, for a total value of $513,000.00. Following the transaction, the insider now directly owns 62,160 shares in the company, valued at $1,417,248. This represents a 26.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard F. Wallman purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average price of $25.15 per share, with a total value of $25,150.00. Following the transaction, the director now owns 207,117 shares in the company, valued at approximately $5,208,992.55. The trade was a 0.49 % increase in their position. The disclosure for this purchase can be found here. Insiders own 18.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Hood River Capital Management LLC boosted its holdings in shares of CECO Environmental by 63.0% in the 4th quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company’s stock worth $52,623,000 after purchasing an additional 673,050 shares in the last quarter. Voya Investment Management LLC boosted its stake in CECO Environmental by 6,409.3% in the fourth quarter. Voya Investment Management LLC now owns 645,853 shares of the company’s stock worth $19,524,000 after buying an additional 635,931 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of CECO Environmental in the 4th quarter worth approximately $7,334,000. Capital International Investors lifted its holdings in shares of CECO Environmental by 12.1% in the 4th quarter. Capital International Investors now owns 1,971,334 shares of the company’s stock worth $59,593,000 after acquiring an additional 212,476 shares during the last quarter. Finally, Peregrine Capital Management LLC purchased a new stake in shares of CECO Environmental in the 4th quarter valued at $6,278,000. 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.