CECO Environmental (NASDAQ:CECO) Stock Price Up 7.4% – Should You Buy?

CECO Environmental Corp. (NASDAQ:CECO)’s share price rose 7.4% during trading on Wednesday . The company traded as high as $24.24 and last traded at $24.24. Approximately 215,618 shares changed hands during trading, a decline of 17% from the average daily volume of 260,329 shares. The stock had previously closed at $22.56.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CECO. Roth Mkm boosted their price objective on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC decreased their target price on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday. Craig Hallum upped their target price on CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Northland Securities increased their price objective on CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, HC Wainwright restated a “buy” rating and set a $35.00 price target on shares of CECO Environmental in a report on Wednesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $34.40.

CECO Environmental Trading Down 1.9 %

The stock’s 50 day simple moving average is $27.18 and its two-hundred day simple moving average is $26.46. The stock has a market capitalization of $816.43 million, a PE ratio of 72.12, a PEG ratio of 2.00 and a beta of 1.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.17.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The business had revenue of $135.50 million during the quarter, compared to analysts’ expectations of $155.94 million. During the same quarter in the previous year, the business earned $0.22 EPS. CECO Environmental’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, sell-side analysts expect that CECO Environmental Corp. will post 0.82 EPS for the current year.

Insider Buying and Selling

In related news, Director Richard F. Wallman purchased 10,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were purchased at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the completion of the transaction, the director now directly owns 62,000 shares in the company, valued at approximately $1,783,740. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 16.90% of the stock is currently owned by insiders.

Institutional Trading of CECO Environmental

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in shares of CECO Environmental by 247.5% in the first quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock worth $1,025,000 after buying an additional 31,707 shares in the last quarter. Boston Partners bought a new position in shares of CECO Environmental in the first quarter worth approximately $516,000. Vanguard Group Inc. raised its stake in CECO Environmental by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company’s stock valued at $35,138,000 after purchasing an additional 24,812 shares in the last quarter. Sei Investments Co. lifted its position in CECO Environmental by 35.2% during the first quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock valued at $1,614,000 after purchasing an additional 18,272 shares during the last quarter. Finally, Hood River Capital Management LLC purchased a new position in CECO Environmental in the 2nd quarter worth approximately $15,495,000. 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.