CECO Environmental (NASDAQ:CECO) Downgraded to “Hold” Rating by Zacks Research

CECO Environmental (NASDAQ:CECO) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on CECO. Weiss Ratings lowered shares of CECO Environmental from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, July 29th. Roth Capital reiterated 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. initiated coverage on CECO Environmental in a report on Thursday, July 9th. They set an “overweight” rating and a $130.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $110.00 target price on shares of CECO Environmental in a research report on Tuesday. Finally, TD Cowen assumed coverage on CECO Environmental in a research note on Wednesday, August 5th. They issued a “buy” rating and a $85.00 target price on the stock. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, CECO Environmental currently has an average rating of “Moderate Buy” and an average price target of $104.00.

CECO Environmental Trading Up 2.5%

Shares of CECO Environmental stock opened at $75.83 on Tuesday. The firm has a market cap of $2.72 billion, a PE ratio of -109.90 and a beta of 1.51. CECO Environmental has a 1 year low of $42.78 and a 1 year high of $101.24. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.33 and a quick ratio of 1.18. The stock has a fifty day moving average price of $82.40 and a 200-day moving average price of $73.71.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings results 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 company had revenue of $284.96 million for the quarter, compared to the consensus estimate of $282.21 million. CECO Environmental had a negative net margin of 3.39% and a positive return on equity of 17.56%. The firm’s quarterly revenue was up 53.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. Equities research analysts anticipate that CECO Environmental will post 2.12 EPS for the current year.

Insider Transactions at CECO Environmental

In related news, Director Richard F. Wallman acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average price of $76.85 per share, with a total value of $1,537,000.00. Following the acquisition, the director owned 105,500 shares of the company’s stock, valued at approximately $8,107,675. This trade represents a 23.39% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jason Dezwirek sold 34,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $96.61, for a total value of $3,284,740.00. Following the completion of the transaction, the director owned 166,000 shares of the company’s stock, valued at approximately $16,037,260. This represents a 17.00% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 18.40% of the company’s stock.

Institutional Investors Weigh In On CECO Environmental

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of CECO Environmental by 71.6% in the second quarter. GAMMA Investing LLC now owns 369 shares of the company’s stock valued at $33,000 after acquiring an additional 154 shares during the period. Allworth Financial LP purchased a new stake in shares of CECO Environmental during the second quarter worth about $29,000. ProShare Advisors LLC grew its stake in shares of CECO Environmental by 8.0% in the fourth quarter. ProShare Advisors LLC now owns 5,390 shares of the company’s stock worth $323,000 after purchasing an additional 399 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of CECO Environmental by 3.5% in the second quarter. Osaic Holdings Inc. now owns 12,297 shares of the company’s stock worth $348,000 after purchasing an additional 412 shares during the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new position in CECO Environmental during the 1st quarter valued at about $29,000. 68.08% of the stock is owned by hedge funds and other 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.