CECO Environmental (NASDAQ:CECO) Raised to Strong-Buy at Zacks Research

by · The Markets Daily

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

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of CECO Environmental from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, September 16th. JPMorgan Chase & Co. dropped their target price on shares of CECO Environmental from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday. TD Cowen started coverage on shares of CECO Environmental in a research report on Wednesday, August 5th. They issued a “buy” rating and a $85.00 target price for the company. Northland Securities set a $125.00 target price on shares of CECO Environmental in a research report on Thursday, August 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $110.00 price target on shares of CECO Environmental in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.38.

View Our Latest Analysis on CECO

CECO Environmental Stock Performance

Shares of NASDAQ:CECO opened at $62.39 on Tuesday. 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 business’s 50 day moving average price is $72.33 and its 200-day moving average price is $75.97. The firm has a market capitalization of $3.65 billion, a PE ratio of -90.42 and a beta of 1.50. CECO Environmental has a 1 year low of $42.82 and a 1 year high of $101.24.

CECO Environmental (NASDAQ:CECO – Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.26 by $0.21. CECO Environmental had a positive return on equity of 7.36% and a negative net margin of 3.39%. The firm had revenue of $284.96 million during the quarter, compared to analysts’ expectations of $282.21 million. During the same period in the previous year, the business earned $0.26 earnings per share. The firm’s revenue for the quarter was up 53.7% on a year-over-year basis. As a group, equities research analysts expect that CECO Environmental will post 2.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CECO Environmental

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in CECO Environmental during the second quarter worth about $392,358,000. Jupiter Topco LLC purchased a new stake in shares of CECO Environmental in the 2nd quarter valued at approximately $86,194,000. Dimensional Fund Advisors LP grew its stake in shares of CECO Environmental by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 903,291 shares of the company’s stock valued at $53,813,000 after buying an additional 7,751 shares during the period. Emerald Advisers LLC grew its stake in shares of CECO Environmental by 14.1% in the 1st quarter. Emerald Advisers LLC now owns 523,017 shares of the company’s stock valued at $31,161,000 after buying an additional 64,492 shares during the period. Finally, Legal & General Group Plc acquired a new stake in shares of CECO Environmental during the 2nd quarter worth approximately $40,461,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

CECO Environmental Company Profile

(Get Free Report)

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.

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