CECO Environmental Announces Expiration of Tender Offer Period for Outstanding Shares of Profire Energy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 02 2025
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Source: Newsfilter
CECO Environmental Acquires Profire Energy: CECO Environmental Corp. has successfully completed its tender offer to acquire all shares of Profire Energy, Inc. for $2.55 per share, totaling approximately $125 million, with 86.31% of outstanding shares validly tendered.
Post-Acquisition Plans: Following the acquisition, Profire Energy will become a wholly owned subsidiary of CECO, and its shares will be delisted from the Nasdaq Capital Market.
Analyst Views on CECO
Wall Street analysts forecast CECO stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for CECO is 57.33 USD with a low forecast of 55.00 USD and a high forecast of 60.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 66.160
Low
55.00
Averages
57.33
High
60.00
Current: 66.160
Low
55.00
Averages
57.33
High
60.00
About CECO
CECO Environmental Corp. is an environmentally focused, diversified industrial company. The Company serves a broad landscape of industrial air, industrial water and energy transition markets globally, providing solutions and application expertise. Its Engineered System segment serves the power generation, hydrocarbon processing, water/wastewater treatment, oily water separation and treatment, marine and naval vessels, and midstream oil and gas sectors. The segment seeks to address the global demand for environmental and equipment protection solutions with its engineered platforms, including emissions management, fluid bed cyclones, thermal acoustics, separation and filtration, and dampers and expansion joints. Its Industrial Process Solutions segment serves the industrial sector with solutions for air pollution and contamination control, and process filtration in applications, such as aluminum beverage can production, automobile production, electronics production, and other markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
