CECO Environmental (NASDAQ:CECO) Stock Price Target Lowered at JPMorgan Chase & Co.

CECO Environmental (NASDAQ:CECO) had its price objective reduced by analysts at JPMorgan Chase & Co. from $130.00 to $110.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 65.84% from the stock’s current price.

Several other research analysts have also commented on CECO. Zacks Research lowered shares of CECO Environmental from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Northland Securities set a $125.00 price objective on shares of CECO Environmental in a research report on Thursday, August 13th. Weiss Ratings downgraded shares of CECO Environmental from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, September 16th. TD Cowen started coverage on shares of CECO Environmental in a report on Wednesday, August 5th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $110.00 target price on shares of CECO Environmental in a report on Tuesday, August 11th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $102.38.

CECO Environmental Stock Performance

Shares of NASDAQ:CECO traded up $1.69 during midday trading on Tuesday, hitting $66.33. The company had a trading volume of 847,471 shares, compared to its average volume of 738,200. 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 company has a market cap of $3.88 billion, a price-to-earnings ratio of -96.03 and a beta of 1.50. CECO Environmental has a 12-month low of $42.82 and a 12-month high of $101.24. The company has a fifty day moving average of $72.53 and a two-hundred day moving average of $75.93.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Monday, August 10th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 53.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share. On average, equities research analysts expect that CECO Environmental will post 2.43 EPS for the current fiscal year.

Institutional Trading of CECO Environmental

Several large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its position in CECO Environmental by 23.1% during the third quarter. Farther Finance Advisors LLC now owns 1,644 shares of the company’s stock valued at $114,000 after acquiring an additional 308 shares in the last quarter. Whalen Wealth Management Inc. boosted its position in CECO Environmental by 37.8% in the 3rd quarter. Whalen Wealth Management Inc. now owns 3,662 shares of the company’s stock worth $255,000 after purchasing an additional 1,004 shares in the last quarter. Engineers Gate Manager LP grew its stake in shares of CECO Environmental by 6,952.1% during the 2nd quarter. Engineers Gate Manager LP now owns 243,155 shares of the company’s stock worth $22,064,000 after purchasing an additional 239,707 shares during the period. Allworth Financial LP grew its stake in shares of CECO Environmental by 98.1% during the 2nd quarter. Allworth Financial LP now owns 317 shares of the company’s stock worth $29,000 after purchasing an additional 157 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of CECO Environmental by 69.3% during the 2nd quarter. Arizona State Retirement System now owns 14,084 shares of the company’s stock worth $1,278,000 after purchasing an additional 5,763 shares during the period. 68.08% of the stock is owned by hedge funds and other institutional investors.

About CECO Environmental

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.