CECO Environmental Corp. (NASDAQ:CECO – Get Free Report)’s share price fell 3.3% during mid-day trading on Tuesday . The company 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.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on CECO. Craig Hallum upped their price target on shares of CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Needham & Company LLC increased their target price on shares of CECO Environmental from $26.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of CECO Environmental in a research note on Wednesday, May 1st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $29.00.
CECO Environmental Trading Down 6.3 %
The stock’s fifty day moving average price is $26.66 and its 200 day moving average price is $23.61. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.38 and a quick ratio of 1.19. The stock has a market capitalization of $982.16 million, a P/E ratio of 80.31, a PEG ratio of 2.17 and a beta of 1.37.
CECO Environmental (NASDAQ:CECO – Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. The firm had revenue of $126.30 million for the quarter, compared to analysts’ expectations of $135.82 million. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. Research analysts forecast that CECO Environmental Corp. will post 0.93 earnings per share for the current year.
Insiders Place Their Bets
In other CECO Environmental news, Director Richard F. Wallman bought 5,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average cost of $21.95 per share, for a total transaction of $109,750.00. Following the acquisition, the director now directly owns 191,853 shares in the company, valued at $4,211,173.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other CECO Environmental news, Director Richard F. Wallman bought 5,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average cost of $21.95 per share, for a total transaction of $109,750.00. Following the acquisition, the director now directly owns 191,853 shares in the company, valued at $4,211,173.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard F. Wallman bought 4,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were acquired at an average price of $24.50 per share, for a total transaction of $98,000.00. Following the completion of the acquisition, the director now owns 205,319 shares in the company, valued at $5,030,315.50. The disclosure for this purchase can be found here. 16.90% of the stock is owned by company insiders.
Institutional Trading of CECO Environmental
A number of institutional investors have recently modified their holdings of CECO. Vanguard Group Inc. boosted its holdings in shares of CECO Environmental by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,440,579 shares of the company’s stock valued at $23,006,000 after buying an additional 13,747 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of CECO Environmental in the 4th quarter valued at about $159,000. Calamos Advisors LLC boosted its holdings in shares of CECO Environmental by 3.5% in the 4th quarter. Calamos Advisors LLC now owns 217,741 shares of the company’s stock valued at $4,416,000 after buying an additional 7,430 shares in the last quarter. Semanteon Capital Management LP bought a new stake in shares of CECO Environmental in the 4th quarter valued at about $748,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of CECO Environmental by 28.3% in the 4th quarter. Russell Investments Group Ltd. now owns 448,248 shares of the company’s stock valued at $9,090,000 after buying an additional 98,951 shares in the last quarter. 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.