CECO Environmental Corp. (NASDAQ:CECO – Get Free Report)’s stock price was down 8.8% on Thursday . The stock traded as low as $79.80 and last traded at $79.31. Approximately 141,255 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 592,001 shares. The stock had previously closed at $86.95.
Wall Street Analyst Weigh In
Several analysts recently weighed in on CECO shares. Zacks Research raised shares of CECO Environmental from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. HC Wainwright raised their target price on shares of CECO Environmental from $55.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Lake Street Capital restated a “buy” rating and issued a $80.00 price target on shares of CECO Environmental in a research note on Wednesday, February 25th. Weiss Ratings cut CECO Environmental from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Finally, Needham & Company LLC raised their price target on CECO Environmental from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $86.83.
Read Our Latest Research Report on CECO Environmental
CECO Environmental Trading Down 9.5%
CECO Environmental (NASDAQ:CECO – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. CECO Environmental had a net margin of 1.70% and a return on equity of 13.69%. The company had revenue of $205.92 million for the quarter, compared to analysts’ expectations of $198.88 million. During the same quarter last year, the company earned $0.10 earnings per share. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, equities analysts predict that CECO Environmental Corp. will post 1.77 EPS for the current year.
Institutional Trading of CECO Environmental
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morton Brown Family Wealth LLC acquired a new stake in CECO Environmental during the first quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of CECO Environmental during the third quarter worth approximately $25,000. Aventura Private Wealth LLC purchased a new position in shares of CECO Environmental during the fourth quarter worth approximately $30,000. Advisory Services Network LLC purchased a new position in shares of CECO Environmental during the third quarter worth approximately $31,000. Finally, KBC Group NV purchased a new position in shares of CECO Environmental during the first quarter worth approximately $44,000. Institutional investors and hedge funds own 68.08% of the company’s stock.
About CECO Environmental
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.
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