CECO Environmental (NASDAQ:CECO) Stock Price Down 3.3%

Shares of CECO Environmental Corp. (NASDAQ:CECO) were down 3.3% during trading on Wednesday . The stock traded as low as $26.63 and last traded at $26.64. Approximately 46,988 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 271,932 shares. The stock had previously closed at $27.55.

Analysts Set New Price Targets

CECO has been the topic of several research reports. Northland Securities raised their price objective on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Roth Mkm boosted their price target on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum increased their price objective on CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC boosted their target price on CECO Environmental from $34.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, HC Wainwright increased their price target on CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CECO Environmental presently has a consensus rating of “Buy” and a consensus target price of $34.80.

CECO Environmental Stock Down 4.9 %

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.36. The firm has a market capitalization of $914.97 million, a price-to-earnings ratio of 78.71, a PEG ratio of 2.08 and a beta of 1.37. The firm has a fifty day moving average price of $28.37 and a 200 day moving average price of $25.12.

CECO Environmental (NASDAQ:CECO) last issued its earnings results on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.16 by $0.04. The company had revenue of $137.50 million for the quarter, compared to analyst estimates of $143.33 million. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 EPS. As a group, sell-side analysts expect that CECO Environmental Corp. will post 0.93 EPS for the current fiscal year.

Insider Buying and Selling at CECO Environmental

In other news, Director Richard F. Wallman purchased 10,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were acquired at an average price of $28.77 per share, with a total value of $287,700.00. Following the purchase, the director now directly owns 62,000 shares of the company’s stock, valued at $1,783,740. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 16.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC raised its position in CECO Environmental by 45.3% during the second quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after acquiring an additional 708 shares during the last quarter. Kessler Investment Group LLC raised its position in shares of CECO Environmental by 27.8% during the 2nd quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock worth $207,000 after purchasing an additional 1,560 shares during the last quarter. Principal Financial Group Inc. lifted its stake in CECO Environmental by 14.8% in the 2nd quarter. Principal Financial Group Inc. now owns 18,916 shares of the company’s stock valued at $546,000 after buying an additional 2,439 shares in the last quarter. Essex Investment Management Co. LLC lifted its position in shares of CECO Environmental by 1.6% in the first quarter. Essex Investment Management Co. LLC now owns 205,982 shares of the company’s stock valued at $4,742,000 after acquiring an additional 3,147 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in CECO Environmental in the 1st quarter valued at about $72,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

CECO Environmental Company Profile

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.