CECO Environmental (NASDAQ:CECO) Trading Down 4.2% – Here’s What Happened

CECO Environmental Corp. (NASDAQ:CECO) traded down 4.2% during trading on Tuesday . The stock traded as low as $23.65 and last traded at $24.09. 30,455 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 278,218 shares. The stock had previously closed at $25.14.

Analysts Set New Price Targets

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

CECO Environmental Price Performance

The company has a fifty day simple moving average of $25.96 and a 200-day simple moving average of $27.78. The company has a market cap of $845.36 million, a P/E ratio of 73.21, a PEG 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.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.22 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 $158.60 million during the quarter, compared to analyst estimates of $156.09 million. During the same period in the prior year, the firm earned $0.28 earnings per share. The business’s quarterly revenue was up 3.2% on a year-over-year basis. On average, sell-side analysts predict that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Insider Activity

In related news, Director Richard F. Wallman purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average cost of $25.15 per share, with a total value of $25,150.00. Following the completion of the purchase, the director now owns 207,117 shares of the company’s stock, valued at $5,208,992.55. The trade was a 0.49 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp bought a new stake in shares of CECO Environmental in the 4th quarter valued at approximately $56,000. Quest Partners LLC bought a new position in shares of CECO Environmental in the third quarter valued at approximately $69,000. Heck Capital Advisors LLC acquired a new stake in shares of CECO Environmental in the fourth quarter worth $74,000. Morse Asset Management Inc bought a new stake in CECO Environmental during the third quarter valued at about $76,000. Finally, Jones Financial Companies Lllp boosted its stake in CECO Environmental by 127.0% during the 4th quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock valued at $90,000 after purchasing an additional 1,658 shares during the period. Hedge funds and other institutional investors own 68.08% of the company’s stock.

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.