Shares of CECO Environmental Corp. (NASDAQ:CECO – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $104.8750.
A number of brokerages recently commented on CECO. Weiss Ratings raised CECO Environmental from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 27th. Needham & Company LLC reissued a “buy” rating and issued a $110.00 price objective on shares of CECO Environmental in a research note on Tuesday, August 11th. TD Cowen began coverage on CECO Environmental in a report on Wednesday, August 5th. They set a “buy” rating and a $85.00 price objective for the company. Northland Securities set a $125.00 target price on CECO Environmental in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. began coverage on CECO Environmental in a report on Thursday, July 9th. They issued an “overweight” rating and a $130.00 target price on the stock.
Read Our Latest Research Report on CECO Environmental
CECO Environmental Trading Up 4.6%
CECO Environmental (NASDAQ:CECO – Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.21. The firm had revenue of $284.96 million for the quarter, compared to analyst estimates of $282.21 million. CECO Environmental had a negative net margin of 3.39% and a positive return on equity of 7.36%. 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 business earned $0.26 earnings per share. Analysts expect that CECO Environmental will post 2.43 EPS for the current fiscal year.
Insider Buying and Selling at CECO Environmental
In other CECO Environmental news, CFO Peter Johansson sold 30,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $96.49, for a total value of $2,894,700.00. Following the transaction, the chief financial officer directly owned 40,746 shares of the company’s stock, valued at approximately $3,931,581.54. This trade represents a 42.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jason Dezwirek sold 34,000 shares of CECO Environmental stock in a transaction dated 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 transaction, the director owned 166,000 shares of the company’s stock, valued at $16,037,260. This represents a 17.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 18.40% of the company’s stock.
Hedge Funds Weigh In On CECO Environmental
A number of hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its holdings in CECO Environmental by 15,819.8% during the 2nd quarter. California State Teachers Retirement System now owns 5,533,416 shares of the company’s stock worth $502,102,000 after purchasing an additional 5,498,658 shares in the last quarter. BlackRock Inc. bought a new position in shares of CECO Environmental in the second quarter valued at approximately $392,358,000. Jupiter Topco LLC purchased a new position in shares of CECO Environmental during the second quarter valued at approximately $86,194,000. Legal & General Group Plc purchased a new position in shares of CECO Environmental during the second quarter valued at approximately $40,461,000. Finally, T. Rowe Price Investment Management Inc. grew its holdings in CECO Environmental by 104.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 718,992 shares of the company’s stock worth $43,032,000 after buying an additional 366,611 shares in the last quarter. 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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