CECO Environmental (NASDAQ:CECO) Receives “Neutral” Rating from HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of CECO Environmental (NASDAQ:CECO) in a report published on Wednesday,Benzinga reports.

Several other research firms also recently commented on CECO. Needham & Company LLC dropped their price target 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. Craig Hallum upped their price target on CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Northland Securities boosted their price objective on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

CECO Environmental Price Performance

CECO opened at $24.52 on Wednesday. The stock’s 50-day moving average price is $28.60 and its 200 day moving average price is $28.26. CECO Environmental has a 12-month low of $18.50 and a 12-month high of $35.16. The firm has a market cap of $857.69 million, a price-to-earnings ratio of 74.31, a PEG ratio of 1.39 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.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. The business had revenue of $158.60 million for the quarter, compared to analysts’ expectations of $156.09 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 earnings per share. As a group, sell-side analysts expect that CECO Environmental will post 0.67 earnings per share for the current year.

Institutional Trading of CECO Environmental

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital International Investors boosted its position in shares of CECO Environmental by 12.1% during 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 in the last quarter. Hood River Capital Management LLC lifted its stake in CECO Environmental by 63.0% during the fourth 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 during the last quarter. Vanguard Group Inc. boosted its holdings in CECO Environmental by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,648,674 shares of the company’s stock valued at $49,839,000 after purchasing an additional 9,023 shares in the last quarter. King Luther Capital Management Corp increased its stake in CECO Environmental by 2.3% in the fourth quarter. King Luther Capital Management Corp now owns 1,033,789 shares of the company’s stock valued at $31,251,000 after purchasing an additional 23,239 shares during the last quarter. Finally, Royce & Associates LP raised its holdings in CECO Environmental by 27.2% during the fourth quarter. Royce & Associates LP now owns 915,212 shares of the company’s stock worth $27,667,000 after purchasing an additional 195,425 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors and hedge funds.

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.