CECO Environmental (NASDAQ:CECO) Given New $38.00 Price Target at Northland Securities

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

Other research analysts also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $35.00 price target on shares of CECO Environmental in a research report on Wednesday, October 30th. Needham & Company LLC reduced their target price on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $35.00.

CECO Environmental Stock Performance

Shares of CECO stock opened at $29.49 on Friday. 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 business’s 50 day moving average is $28.53 and its two-hundred day moving average is $27.76. The company has a market capitalization of $1.03 billion, a P/E ratio of 89.37, a P/E/G ratio of 2.92 and a beta of 1.41.

CECO Environmental (NASDAQ:CECO) last announced 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 business had revenue of $135.50 million for the quarter, compared to analysts’ expectations of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter last year, the business earned $0.22 EPS. Analysts expect that CECO Environmental will post 0.79 EPS for the current fiscal year.

Institutional Trading of CECO Environmental

Hedge funds have recently bought and sold shares of the business. First Horizon Advisors Inc. grew its position in shares of CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after purchasing an additional 591 shares in the last quarter. Quest Partners LLC acquired a new position in CECO Environmental during the third quarter worth $69,000. Morse Asset Management Inc purchased a new stake in CECO Environmental in the 3rd quarter valued at $76,000. Eastern Bank acquired a new stake in shares of CECO Environmental in the 3rd quarter worth $113,000. Finally, SG Americas Securities LLC purchased a new position in shares of CECO Environmental during the 2nd quarter worth $201,000. Institutional investors and hedge funds 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.