CECO Environmental (NASDAQ:CECO) Shares Gap Down – Should You Sell?

CECO Environmental Corp. (NASDAQ:CECO) gapped down prior to trading on Friday . The stock had previously closed at $32.15, but opened at $28.06. CECO Environmental shares last traded at $28.92, with a volume of 430,033 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CECO shares. Craig Hallum increased their price target on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC decreased 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 downgraded shares of CECO Environmental from a “buy” rating to a “neutral” rating in a research note on Friday. Finally, Northland Securities raised their target price on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, CECO Environmental currently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

CECO Environmental Price Performance

The stock’s 50 day simple moving average is $30.62 and its 200-day simple moving average is $28.60. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 88.88, a PEG ratio of 1.68 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.

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

Institutional Investors Weigh In On CECO Environmental

A number of hedge funds have recently bought and sold shares of the company. FMR LLC boosted its position in shares of CECO Environmental by 23.5% in the third quarter. FMR LLC now owns 786,308 shares of the company’s stock valued at $22,174,000 after acquiring an additional 149,777 shares during the period. Geode Capital Management LLC lifted its position in CECO Environmental by 1.7% in the third quarter. Geode Capital Management LLC now owns 689,487 shares of the company’s stock worth $19,448,000 after purchasing an additional 11,857 shares during the period. First Eagle Investment Management LLC raised its holdings in shares of CECO Environmental by 10.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 657,764 shares of the company’s stock worth $18,976,000 after buying an additional 64,900 shares in the last quarter. Driehaus Capital Management LLC grew its position in CECO Environmental by 37.4% in the second quarter. Driehaus Capital Management LLC now owns 586,249 shares of the company’s stock valued at $16,913,000 after acquiring an additional 159,485 shares during the period. Finally, Hood River Capital Management LLC acquired a new position in CECO Environmental during the second quarter worth $15,495,000. 68.08% of the stock is currently owned by institutional investors.

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.