CECO Environmental (NASDAQ:CECO) Reaches New 1-Year High at $29.46

Shares of CECO Environmental Corp. (NASDAQ:CECO) hit a new 52-week high on Friday . The company traded as high as $29.46 and last traded at $29.35, with a volume of 31183 shares. The stock had previously closed at $28.63.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CECO. Craig Hallum upped 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. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of CECO Environmental in a report on Wednesday, May 1st. Finally, Needham & Company LLC increased their price target on CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $27.40.

CECO Environmental Stock Performance

The stock has a 50-day simple moving average of $25.35 and a 200-day simple moving average of $22.73. 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 cap of $1.00 billion, a PE ratio of 81.80, a P/E/G ratio of 2.03 and a beta of 1.37.

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

Insider Buying and Selling at CECO Environmental

In other news, Director Richard F. Wallman acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average cost of $21.95 per share, for a total transaction of $109,750.00. Following the completion of the acquisition, the director now 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 can be accessed through this link. In other news, Director Richard F. Wallman bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were acquired at an average cost of $21.95 per share, with a total value of $109,750.00. Following the completion of the transaction, the director now directly owns 191,853 shares in the company, valued at $4,211,173.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard F. Wallman acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were bought at an average cost of $24.50 per share, for a total transaction of $98,000.00. Following the completion of the acquisition, the director now directly owns 205,319 shares of the company’s stock, valued at approximately $5,030,315.50. The disclosure for this purchase can be found here. 16.90% of the stock is currently owned by corporate insiders.

Institutional Trading of CECO Environmental

Large investors have recently made changes to their positions in the company. CWM LLC lifted its stake in CECO Environmental by 45.3% in the 2nd quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after purchasing an additional 708 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in CECO Environmental by 89.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $94,000 after acquiring an additional 2,195 shares during the last quarter. AJOVista LLC bought a new position in CECO Environmental in the fourth quarter valued at approximately $57,000. Essex Investment Management Co. LLC grew its stake in shares of CECO Environmental by 1.6% during the first quarter. Essex Investment Management Co. LLC now owns 205,982 shares of the company’s stock worth $4,742,000 after buying an additional 3,147 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of CECO Environmental during the first quarter worth $72,000. Institutional investors own 68.08% of the company’s stock.

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.