Insider Selling: CECO Environmental Corp. (NASDAQ:CECO) Insider Sells 22,500 Shares of Stock

CECO Environmental Corp. (NASDAQ:CECO) insider Peter K. Johansson sold 22,500 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $22.80, for a total transaction of $513,000.00. Following the sale, the insider now owns 62,160 shares of the company’s stock, valued at approximately $1,417,248. This represents a 26.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

CECO Environmental Stock Performance

CECO opened at $19.80 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The company has a market cap of $692.80 million, a PE ratio of 60.00, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43. The stock has a 50-day moving average of $24.83 and a 200-day moving average of $27.53. CECO Environmental Corp. has a 52-week low of $18.44 and a 52-week high of $35.16.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm had revenue of $158.60 million during the quarter, compared to analysts’ expectations of $156.09 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts forecast that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CECO shares. Northland Securities lifted 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. Needham & Company LLC restated a “buy” rating and issued a $33.00 target price on shares of CECO Environmental in a research note on Wednesday, February 26th. HC Wainwright reaffirmed a “neutral” rating on shares of CECO Environmental in a research note on Wednesday, February 26th. Finally, Craig Hallum boosted their price target on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.20.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CECO. Mackenzie Financial Corp acquired a new stake in shares of CECO Environmental in the fourth quarter valued at about $56,000. Heck Capital Advisors LLC bought a new stake in CECO Environmental during the 4th quarter valued at approximately $74,000. Morse Asset Management Inc acquired a new stake in CECO Environmental in the 3rd quarter valued at approximately $76,000. Jones Financial Companies Lllp lifted its holdings in shares of CECO Environmental by 127.0% during the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock worth $90,000 after buying an additional 1,658 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of CECO Environmental during the fourth quarter worth approximately $218,000. 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.