CECO Environmental’s (CECO) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of CECO Environmental (NASDAQ:CECO) in a report issued on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $110.00 price objective on the stock.

Several other research firms also recently commented on CECO. Weiss Ratings downgraded shares of CECO Environmental from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, July 29th. Roth Capital reaffirmed a “buy” rating and issued a $85.00 price objective on shares of CECO Environmental in a research note on Wednesday, April 29th. JPMorgan Chase & Co. started coverage on shares of CECO Environmental in a research report on Thursday, July 9th. They issued an “overweight” rating and a $130.00 target price on the stock. Lake Street Capital boosted their price target on shares of CECO Environmental from $80.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Finally, TD Cowen started coverage on shares of CECO Environmental in a research report on Wednesday, August 5th. They set a “buy” rating and a $85.00 price target for the company. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, CECO Environmental currently has a consensus rating of “Moderate Buy” and an average target price of $104.88.

CECO Environmental Price Performance

CECO opened at $76.82 on Tuesday. The stock has a 50-day moving average price of $82.31 and a 200-day moving average price of $73.77. CECO Environmental has a 12-month low of $42.78 and a 12-month high of $101.24. The company has a current ratio of 1.33, a quick ratio of 1.18 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $2.76 billion, a P/E ratio of -111.33 and a beta of 1.51.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. The company had revenue of $284.96 million for the quarter, compared to analysts’ expectations of $282.21 million. CECO Environmental had a positive return on equity of 17.56% and a negative net margin of 3.39%.CECO Environmental’s revenue for the quarter was up 53.7% compared to the same quarter last year. During the same period last year, the firm posted $0.26 EPS. Equities analysts predict that CECO Environmental will post 2.12 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jason Dezwirek sold 34,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $96.61, for a total transaction of $3,284,740.00. Following the completion of the sale, the director directly owned 166,000 shares in the company, valued at $16,037,260. This represents a 17.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Peter K. Johansson sold 30,000 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $96.49, for a total transaction of $2,894,700.00. Following the sale, the chief financial officer directly owned 40,746 shares of the company’s stock, valued at $3,931,581.54. The trade was a 42.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 18.40% of the company’s stock.

Hedge Funds Weigh In On CECO Environmental

Several hedge funds and other institutional investors have recently modified their holdings of CECO. Whalen Wealth Management Inc. purchased a new stake in shares of CECO Environmental during the second quarter worth about $241,000. Algert Global LLC increased its holdings in CECO Environmental by 22.0% during the 2nd quarter. Algert Global LLC now owns 12,690 shares of the company’s stock valued at $1,151,000 after purchasing an additional 2,290 shares during the period. Infrastructure Capital Advisors LLC bought a new position in CECO Environmental during the 2nd quarter valued at approximately $447,000. Sanctuary Advisors LLC purchased a new stake in CECO Environmental in the 2nd quarter worth approximately $436,000. Finally, Commerce Bank bought a new stake in shares of CECO Environmental in the 2nd quarter worth approximately $1,623,000. 68.08% of the stock is owned by institutional investors.

CECO Environmental Company Profile

CECO Environmental Corp. (NASDAQ: CECO) is a global technology provider specializing in engineered solutions that help industrial and commercial customers manage air emissions, process fluids and optimize energy use. The company develops custom-engineered systems and modular packages designed to meet evolving environmental regulations and improve operational efficiency across diverse production processes.

CECO’s core offerings include air pollution control equipment—such as scrubbers, cyclones, fabric and cartridge filters—and industrial process filtration systems for applications ranging from particulate removal to oil-water separation.