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

CECO Environmental Corp. (NASDAQ:CECO)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $29.46 and last traded at $29.35, with a volume of 31183 shares changing hands. The stock had previously closed at $28.63.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CECO shares. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of CECO Environmental in a report on Wednesday, May 1st. Needham & Company LLC upped their target price on CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Craig Hallum lifted their price target on shares of CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, CECO Environmental has an average rating of “Buy” and a consensus target price of $27.40.

CECO Environmental Price Performance

The stock has a market cap of $1.01 billion, a P/E ratio of 82.57, a price-to-earnings-growth ratio of 2.05 and a beta of 1.37. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.19 and a current ratio of 1.38. The firm has a 50-day moving average price of $25.48 and a 200-day moving average price of $22.80.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. The business 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 company earned $0.10 earnings per share. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, analysts forecast that CECO Environmental Corp. will post 0.93 earnings per share for the current fiscal year.

Insider Activity at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman bought 5,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average price of $21.95 per share, with a total value of $109,750.00. Following the completion of the purchase, the director now owns 191,853 shares of the company’s stock, valued at $4,211,173.35. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Richard F. Wallman purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average cost of $21.95 per share, with a total value of $109,750.00. Following the transaction, the director now directly owns 191,853 shares in the company, valued at approximately $4,211,173.35. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard F. Wallman purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was bought at an average price of $24.50 per share, for a total transaction of $98,000.00. Following the purchase, the director now directly 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 currently owned by corporate insiders.

Hedge Funds Weigh In On CECO Environmental

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in CECO Environmental during the 2nd quarter valued at about $201,000. CWM LLC grew its holdings in shares of CECO Environmental by 45.3% during the second quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after buying an additional 708 shares during the last quarter. Boston Partners bought a new stake in shares of CECO Environmental during the first quarter valued at approximately $516,000. Silvercrest Asset Management Group LLC raised its holdings in CECO Environmental by 4.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 338,640 shares of the company’s stock worth $7,795,000 after acquiring an additional 14,690 shares during the last quarter. Finally, Cruiser Capital Advisors LLC lifted its position in CECO Environmental by 25.0% in the 1st quarter. Cruiser Capital Advisors LLC now owns 50,000 shares of the company’s stock valued at $1,151,000 after acquiring an additional 10,000 shares in the last quarter. Hedge funds and other 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.