Needham analyst James Ricchiuti has maintained their bullish stance on CECO stock, giving a Buy rating yesterday.
James Ricchiuti has given his Buy rating due to a combination of factors that highlight Ceco Environmental’s strong market position and growth potential. The company has reported record orders in the fourth quarter, showing a 35% sequential increase, which indicates a robust demand for its products. Additionally, Ceco’s book-to-bill ratio stands at 1.38, and it has achieved a record backlog of $541 million, further underscoring the strength in its order pipeline.
Ricchiuti also notes that Ceco has reaffirmed its 2025 guidance, which includes strategic acquisitions and the divestiture of non-core businesses. The guidance reflects expectations of mid-teens organic growth and a significant 51% growth in adjusted EBITDA at the midpoint. These factors suggest that Ceco is well-positioned to meet or exceed future expectations, justifying the Buy rating.
Ricchiuti covers the Technology sector, focusing on stocks such as 3D Systems, TTM Technologies, and Benchmark Electronics. According to TipRanks, Ricchiuti has an average return of 7.7% and a 49.09% success rate on recommended stocks.
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