CECO Environmental (NASDAQ:CECO) Trading Up 4% – What’s Next?

CECO Environmental Corp. (NASDAQ:CECO)’s stock price rose 4% during trading on Friday . The company traded as high as $27.15 and last traded at $27.14. Approximately 193,176 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 267,399 shares. The stock had previously closed at $26.10.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CECO shares. HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of CECO Environmental in a report on Wednesday, October 30th. Roth Mkm raised their target price on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Northland Securities boosted their price target on CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Craig Hallum increased their target price on CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC decreased their price objective on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental presently has an average rating of “Buy” and an average target price of $34.40.

CECO Environmental Stock Up 4.2 %

The stock has a 50 day moving average price of $26.55 and a 200 day moving average price of $26.53. The company has a market capitalization of $951.11 million, a P/E ratio of 81.52, a PEG ratio of 2.18 and a beta of 1.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The business had revenue of $135.50 million during the quarter, compared to the consensus estimate of $155.94 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities research analysts forecast that CECO Environmental Corp. will post 0.79 earnings per share for the current fiscal year.

Insider Buying and Selling at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman acquired 10,000 shares of the stock in a transaction dated Friday, August 30th. The stock was purchased at an average price of $28.77 per share, with a total value of $287,700.00. Following the transaction, the director now directly owns 62,000 shares of the company’s stock, valued at $1,783,740. This trade represents a 19.23 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.90% of the stock is owned by corporate insiders.

Institutional Trading of CECO Environmental

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CECO. First Horizon Advisors Inc. raised its position in CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after acquiring an additional 591 shares in the last quarter. CWM LLC lifted its position in shares of CECO Environmental by 45.3% during the 2nd quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after acquiring an additional 708 shares during the period. Quest Partners LLC acquired a new stake in shares of CECO Environmental during the 3rd quarter valued at approximately $69,000. EntryPoint Capital LLC purchased a new stake in CECO Environmental during the first quarter worth $72,000. Finally, Morse Asset Management Inc purchased a new position in shares of CECO Environmental in the third quarter valued at $76,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

About CECO Environmental

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.