CECO jumps 14% as Q1 results beat expectations and management lifts 2026 outlook

CECO Environmental Corp. (CECO) is up 14.4% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to CECO’s first-quarter 2026 earnings update, which showed a sharp acceleration in orders, a backlog above $1 billion, and higher full-year guidance. Investors also seem to be rewarding signs of improving profitability (on a non-GAAP basis) and continued momentum in natural gas power-related demand.

Details:

First-quarter orders were $449.5 million (up 97% year over year) and backlog rose to $1,035.1 million (up 72%), marking the first time quarter-end backlog exceeded $1 billion.

Non-GAAP diluted EPS was $0.36 and adjusted EBITDA was $20.4 million (up 46%), alongside revenue of $205.9 million (up 17%).

Full-year 2026 guidance increased to revenue of $940 million to $1.0 billion and adjusted EBITDA of $120 million to $140 million, with the outlook excluding the pending Thermon transaction.

The company said it booked the largest natural gas power order in its history in April 2026 and indicated April bookings already exceeded $450 million, implying continued strength into Q2.

Sources:

CECO Environmental Investor Relations, GlobeNewswire, Investing.com

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

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$CECO Hedge Fund Activity

We have seen 109 institutional investors add shares of $CECO stock to their portfolio, and 118 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CAPITAL INTERNATIONAL INVESTORS removed 953,369 shares (-56.9%) from their portfolio in Q4 2025, for an estimated $57,059,134
AMERICAN CENTURY COMPANIES INC added 780,516 shares (+62.1%) to their portfolio in Q4 2025, for an estimated $46,713,882
HOOD RIVER CAPITAL MANAGEMENT LLC removed 492,374 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $29,468,583
VOYA INVESTMENT MANAGEMENT LLC removed 397,910 shares (-98.7%) from their portfolio in Q4 2025, for an estimated $23,814,913
EMERALD ADVISERS, LLC added 339,118 shares (+284.0%) to their portfolio in Q4 2025, for an estimated $20,296,212
CAPITAL WORLD INVESTORS added 333,098 shares (+inf%) to their portfolio in Q4 2025, for an estimated $19,935,915
T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 327,712 shares (-93.0%) from their portfolio in Q4 2025, for an estimated $19,613,563

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

$CECO Government Contracts

We have seen $56,667 of award payments to $CECO over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

8511358197!PANEL,POWER DISTRIB: $39,957
8511370235!SEPARATOR,SLUDGE,CO: $8,550

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

$CECO Analyst Ratings

Wall Street analysts have issued reports on $CECO in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Needham issued a "Buy" rating on 02/25/2026
Northland Capital Markets issued a "Outperform" rating on 12/24/2025

To track analyst ratings and price targets for $CECO, check out Quiver Quantitative's $CECO forecast page.

$CECO Price Targets

Multiple analysts have issued price targets for $CECO recently. We have seen 4 analysts offer price targets for $CECO in the last 6 months, with a median target of $76.5.

Here are some recent targets:

James Ricchiuti from Needham set a target price of $80.0 on 03/26/2026
Amit Dayal from HC Wainwright & Co. set a target price of $90.0 on 02/25/2026
Gerry Sweeney from Roth Capital set a target price of $68.0 on 02/25/2026
Bobby Brooks from Northland Capital Markets set a target price of $73.0 on 12/24/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.