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

CECO Environmental Corp. (NASDAQ:CECO)’s stock price fell 3.3% during mid-day trading on Tuesday . The stock traded as low as $28.82 and last traded at $29.01. 62,300 shares changed hands during trading, a decline of 78% from the average session volume of 281,252 shares. The stock had previously closed at $30.01.

Analyst Ratings Changes

Several brokerages recently issued reports on CECO. Craig Hallum lifted their target price on CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Needham & Company LLC lifted their target price on CECO Environmental from $26.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of CECO Environmental in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $29.00.

CECO Environmental Stock Performance

The company has a 50-day simple moving average of $26.66 and a two-hundred day simple moving average of $23.61. The company has a quick ratio of 1.19, a current ratio of 1.38 and a debt-to-equity ratio of 0.53. The firm has a market cap of $964.34 million, a PE ratio of 81.26, a PEG ratio of 2.17 and a beta of 1.37.

CECO Environmental (NASDAQ:CECO) last issued its earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $126.30 million for the quarter, compared to analyst estimates of $135.82 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. The business’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. As a group, equities research analysts forecast that CECO Environmental Corp. will post 0.93 earnings per share for the current year.

Insider Buying and Selling at CECO Environmental

In other news, Director Richard F. Wallman bought 5,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were purchased at an average cost of $21.95 per share, for a total transaction of $109,750.00. Following the completion of the purchase, the director now directly owns 191,853 shares in the company, valued at approximately $4,211,173.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Richard F. Wallman bought 5,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were purchased at an average cost of $21.95 per share, for a total transaction of $109,750.00. Following the completion of the purchase, the director now directly owns 191,853 shares in the company, valued at approximately $4,211,173.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard F. Wallman bought 4,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was purchased at an average price of $24.50 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the director now owns 205,319 shares of the company’s stock, valued at $5,030,315.50. The disclosure for this purchase can be found here. Corporate insiders own 16.90% of the company’s stock.

Institutional Trading of CECO Environmental

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its stake in shares of CECO Environmental by 247.5% during the 1st quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock valued at $1,025,000 after purchasing an additional 31,707 shares during the period. Great Lakes Advisors LLC bought a new stake in shares of CECO Environmental during the 4th quarter valued at $2,720,000. Los Angeles Capital Management LLC bought a new stake in shares of CECO Environmental during the 4th quarter valued at $729,000. Sei Investments Co. raised its stake in shares of CECO Environmental by 35.2% during the 1st quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock valued at $1,614,000 after purchasing an additional 18,272 shares during the period. Finally, Guyasuta Investment Advisors Inc. bought a new stake in shares of CECO Environmental during the 4th quarter valued at $203,000. 68.08% of the stock is currently owned by institutional investors.

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.