CECO Environmental (NASDAQ:CECO) Stock Price Up 5.4% – Still a Buy?

CECO Environmental Corp. (NASDAQ:CECO) shares were up 5.4% during mid-day trading on Tuesday. The company traded as high as $67.08 and last traded at $68.1320. 967,905 shares changed hands during trading, an increase of 31% from the average daily volume of 738,801 shares. The stock had previously closed at $64.64.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CECO. JPMorgan Chase & Co. reduced their target price on CECO Environmental from $130.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday. Zacks Research downgraded shares of CECO Environmental from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Northland Securities set a $125.00 target price on shares of CECO Environmental in a research report on Thursday, August 13th. Needham & Company LLC reissued a “buy” rating and issued a $110.00 target price on shares of CECO Environmental in a research note on Tuesday, August 11th. Finally, TD Cowen began coverage on shares of CECO Environmental in a research report on Wednesday, August 5th. They issued a “buy” rating and a $85.00 price target for the company. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.38.

CECO Environmental Stock Up 5.4%

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.50 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $72.53 and a 200-day simple moving average of $75.93. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of -98.87 and a beta of 1.50.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. CECO Environmental had a positive return on equity of 7.36% and a negative net margin of 3.39%. The company had revenue of $284.96 million during the quarter, compared to analysts’ expectations of $282.21 million. During the same period last year, the business earned $0.26 earnings per share. The business’s revenue was up 53.7% on a year-over-year basis. On average, sell-side analysts forecast that CECO Environmental Corp. will post 2.43 EPS for the current fiscal year.

Hedge Funds Weigh In On CECO Environmental

Several institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in CECO Environmental during the second quarter worth about $29,000. GAMMA Investing LLC increased its holdings in shares of CECO Environmental by 71.6% during the second quarter. GAMMA Investing LLC now owns 369 shares of the company’s stock worth $33,000 after buying an additional 154 shares in the last quarter. Morton Brown Family Wealth LLC bought a new position in shares of CECO Environmental in the first quarter valued at approximately $29,000. KBC Group NV bought a new position in shares of CECO Environmental in the first quarter valued at approximately $44,000. Finally, Strs Ohio bought a new position in shares of CECO Environmental in the first quarter valued at approximately $66,000. 68.08% of the stock is owned by institutional investors.

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.