CECO Environmental (NASDAQ:CECO) Trading Down 3.3% – What’s Next?

by · The Markets Daily

Shares of CECO Environmental Corp. (NASDAQ:CECO – Get Free Report) dropped 3.3% during mid-day trading on Wednesday . The stock traded as low as $22.45 and last traded at $22.32. Approximately 4,208 shares traded hands during trading, a decline of 99% from the average daily volume of 282,268 shares. The stock had previously closed at $23.09.

Analyst Ratings Changes

CECO has been the subject of a number of research reports. Craig Hallum lifted their price objective on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Northland Securities boosted their price target on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 target price on shares of CECO Environmental in a research note on Wednesday, February 26th. Finally, HC Wainwright restated a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, CECO Environmental currently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

Get Our Latest Report on CECO

CECO Environmental Stock Down 4.2 %

The firm has a market cap of $773.84 million, a PE ratio of 67.02, a P/E/G ratio of 1.39 and a beta of 1.43. 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 fifty day moving average price of $25.40 and a two-hundred day moving average price of $27.69.

CECO Environmental (NASDAQ:CECO – Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $158.60 million for the quarter, compared to the consensus estimate of $156.09 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. On average, analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard F. Wallman bought 1,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, February 26th. The stock was acquired at an average price of $25.15 per share, for a total transaction of $25,150.00. Following the completion of the purchase, the director now owns 207,117 shares in the company, valued at approximately $5,208,992.55. This represents a 0.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Peter K. Johansson sold 5,601 shares of CECO Environmental stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $24.15, for a total value of $135,264.15. Following the sale, the insider now directly owns 84,660 shares in the company, valued at $2,044,539. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On CECO Environmental

A number of institutional investors have recently added to or reduced their stakes in CECO. Charles Schwab Investment Management Inc. boosted its stake in CECO Environmental by 185.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company’s stock valued at $6,641,000 after buying an additional 152,893 shares in the last quarter. FMR LLC boosted its stake in shares of CECO Environmental by 23.5% in the 3rd quarter. FMR LLC now owns 786,308 shares of the company’s stock valued at $22,174,000 after purchasing an additional 149,777 shares in the last quarter. Centiva Capital LP bought a new stake in shares of CECO Environmental in the 3rd quarter worth about $287,000. HighTower Advisors LLC increased its position in shares of CECO Environmental by 25.4% during the 3rd quarter. HighTower Advisors LLC now owns 17,669 shares of the company’s stock worth $501,000 after purchasing an additional 3,581 shares in the last quarter. Finally, Morse Asset Management Inc bought a new position in CECO Environmental during the 3rd quarter valued at about $76,000. 68.08% of the stock is owned by institutional investors and hedge funds.

CECO Environmental Company Profile

(Get Free Report)

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.

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