CECO Environmental Corp. (NASDAQ: CECO) announced the appointment of Deloitte & Touche LLP as its new auditor, effective February 28, 2025, replacing BDO USA, P.C. The decision was made by the Audit Committee of the Board of Directors. The transition aims to strengthen the company’s financial reporting processes, following previously reported material weaknesses in internal control over financial reporting. Despite recent stock price weakness, analysts expect sales and net income growth in the current year, with the company trading at a P/E ratio of 65.9. CECO also announced a reduction in full-year 2024 revenue guidance due to project delays, and completed the acquisition of Verantis Environmental Solutions Group, planning to divest its Fluid Handling business by late Q1 2025. Craig-Hallum analyst Aaron Spychalla increased the price target for CECO Environmental to $40 from $34, maintaining a Buy rating, following the acquisition of Profire Energy for $123 million.

Craig-Hallum analyst Aaron Spychalla raised the stock target for CECO Environmental Corp to $40 from $34, maintaining a Buy rating. This follows CECO's acquisition of Profire Energy for $123 million, expected to enhance margins and contribute to a record number of orders in the fourth quarter of 2024. CECO's exposure to various secular themes, including energy transition and nuclear power, is seen as attractive to investors.

Profire Energy Inc. announced the completion of its acquisition by CECO Environmental Corp., effectively delisting from NASDAQ. The merger, concluded with a tender offer, resulted in the acquisition of approximately 86.31% of Profire Energy's outstanding shares at a price of $2.55 per share, totaling approximately $118 million. Profire Energy's 2014 Equity Incentive Plan and 2023 Executive Incentive Plan were terminated as part of the merger.

Profire Energy Inc. completed its acquisition by CECO Environmental Corp., effectively delisting from NASDAQ. The merger was completed on Thursday with a purchase price of $2.55 per share, totaling approximately $118 million. Profire Energy's 2014 and 2023 equity incentive plans were terminated, and all outstanding restricted stock units vested and converted into cash. CECO Environmental now holds full ownership of Profire Energy, and the company's shares were halted trading on NASDAQ.

CECO Environmental Corp. announced the successful completion of its tender offer to acquire Profire Energy, Inc. at a price of $2.55 per share. The offer, which expired on December 31, 2024, was part of a merger agreement valued at approximately $125 million. CECO Environmental plans to complete the acquisition through a merger, resulting in Profire Energy becoming a wholly owned subsidiary.