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

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

Wall Street Analyst Weigh In

CECO has been the topic of several research reports. Needham & Company LLC cut their target price on CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of CECO Environmental in a report on Wednesday, October 30th. Craig Hallum boosted their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Roth Mkm lifted their price target on shares of CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Northland Securities boosted their price target on CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $34.40.

CECO Environmental Stock Up 4.2 %

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

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05). The company had revenue of $135.50 million for the quarter, compared to the consensus estimate of $155.94 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The business’s revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS. On average, equities research analysts forecast that CECO Environmental Corp. will post 0.79 EPS 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 CECO Environmental stock in a transaction dated Friday, August 30th. The stock was bought at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the purchase, the director now directly owns 62,000 shares in the company, valued at approximately $1,783,740. This represents a 19.23 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On CECO Environmental

Several hedge funds and other institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. boosted its holdings in CECO Environmental by 71.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after buying an additional 591 shares during the period. CWM LLC raised its position in 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 purchasing an additional 708 shares during the last quarter. Quest Partners LLC purchased a new position in shares of CECO Environmental during the third quarter valued at about $69,000. Morse Asset Management Inc bought a new position in shares of CECO Environmental during the third quarter valued at $76,000. Finally, EntryPoint Capital LLC purchased a new stake in CECO Environmental during the first quarter valued at $72,000. 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.