CECO Environmental Corp. (NASDAQ:CECO) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

CECO Environmental Corp. (NASDAQ:CECO) has received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $104.88.

A number of research firms have recently commented on CECO. Weiss Ratings lowered shares of CECO Environmental from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, September 16th. Zacks Research downgraded shares of CECO Environmental from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 target price on shares of CECO Environmental in a research note on Tuesday, August 11th. Northland Securities set a $125.00 target price on shares of CECO Environmental in a research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. initiated coverage on shares of CECO Environmental in a report on Thursday, July 9th. They issued an “overweight” rating and a $130.00 target price on the stock.

CECO Environmental Stock Performance

CECO opened at $73.66 on Tuesday. The company has a market cap of $4.31 billion, a PE ratio of -106.75 and a beta of 1.50. The stock has a 50-day moving average of $72.19 and a 200-day moving average of $75.31. CECO Environmental has a 52-week low of $42.82 and a 52-week high of $101.24. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 1.50.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Monday, August 10th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.21. The firm had revenue of $284.96 million during the quarter, compared to analyst estimates of $282.21 million. CECO Environmental had a positive return on equity of 7.36% and a negative net margin of 3.39%.The company’s revenue for the quarter was up 53.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. As a group, equities research analysts forecast that CECO Environmental will post 2.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CECO Environmental

Several hedge funds and other institutional investors have recently made changes to their positions in CECO. Allworth Financial LP acquired a new position in shares of CECO Environmental during the second quarter worth approximately $29,000. GAMMA Investing LLC grew its stake in shares of CECO Environmental by 71.6% in the second quarter. GAMMA Investing LLC now owns 369 shares of the company’s stock worth $33,000 after acquiring an additional 154 shares during the last quarter. Morton Brown Family Wealth LLC acquired a new stake in shares of CECO Environmental in the first quarter worth $29,000. KBC Group NV bought a new position in CECO Environmental during the first quarter worth $44,000. Finally, Strs Ohio acquired a new position in CECO Environmental during the 1st quarter valued at $66,000. 68.08% of the stock is owned by institutional investors and hedge funds.

CECO Environmental Company Profile

CECO Environmental Corp. (NASDAQ: CECO) is an environmental technology company that provides engineered solutions for industrial air quality, fluid handling, and water and wastewater treatment. Its systems are designed to help customers control emissions, improve process efficiency, protect workers, and comply with environmental regulations.

The company offers products and services including air pollution control equipment, industrial ventilation systems, filtration and separation technologies, thermal processing solutions, pumps and other fluid-handling equipment, and water and wastewater treatment systems.