CECO Environmental (NASDAQ:CECO) Sets New 52-Week High – Still a Buy?

Shares of CECO Environmental Corp. (NASDAQ:CECO) reached a new 52-week high during trading on Tuesday . The company traded as high as $33.96 and last traded at $33.96, with a volume of 138246 shares. The stock had previously closed at $32.77.

Wall Street Analyst Weigh In

CECO has been the subject of several research reports. Needham & Company LLC dropped their price objective on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of CECO Environmental in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $34.40.

CECO Environmental Trading Up 2.7 %

The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average price of $27.81 and a two-hundred day moving average price of $27.43. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 99.31, a PEG ratio of 2.77 and a beta of 1.41.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $155.94 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. CECO Environmental’s quarterly revenue was down 9.3% on a year-over-year basis. As a group, equities analysts forecast that CECO Environmental Corp. will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Barclays PLC grew its holdings in CECO Environmental by 115.0% during the third quarter. Barclays PLC now owns 63,615 shares of the company’s stock worth $1,795,000 after buying an additional 34,027 shares in the last quarter. Geode Capital Management LLC boosted its holdings in CECO Environmental by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 689,487 shares of the company’s stock worth $19,448,000 after acquiring an additional 11,857 shares during the last quarter. Gordian Capital Singapore Pte Ltd grew its stake in shares of CECO Environmental by 153.9% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 35,500 shares of the company’s stock worth $1,001,000 after acquiring an additional 21,517 shares in the last quarter. SageView Advisory Group LLC raised its holdings in shares of CECO Environmental by 89.4% in the third quarter. SageView Advisory Group LLC now owns 28,840 shares of the company’s stock valued at $813,000 after purchasing an additional 13,615 shares during the last quarter. Finally, Morse Asset Management Inc bought a new position in shares of CECO Environmental during the third quarter valued at about $76,000. 68.08% of the stock is currently owned by institutional investors and hedge funds.

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.