CECO Environmental (NASDAQ:CECO) Sets New 12-Month High at $27.14

CECO Environmental Corp. (NASDAQ:CECO)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $27.14 and last traded at $26.95, with a volume of 13562 shares. The stock had previously closed at $26.45.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Roth Mkm lifted their price objective on CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of CECO Environmental in a research report on Wednesday, May 1st. Northland Securities upped their price target on shares of CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Needham & Company LLC raised their price objective on shares of CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Craig Hallum upped their target price on shares of CECO Environmental from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $27.40.

CECO Environmental Trading Up 6.1 %

The business’s 50-day simple moving average is $24.54 and its 200-day simple moving average is $22.25. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 82.43, a PEG ratio of 1.88 and a beta of 1.35. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.38 and a quick ratio of 1.19.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $126.30 million during the quarter, compared to the consensus estimate of $135.82 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. Research analysts predict that CECO Environmental Corp. will post 0.94 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On CECO Environmental

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its position in CECO Environmental by 271.2% during the third quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock worth $10,047,000 after buying an additional 459,646 shares during the period. Vanguard Group Inc. grew its holdings in CECO Environmental by 1.0% in the third quarter. Vanguard Group Inc. now owns 1,440,579 shares of the company’s stock valued at $23,006,000 after purchasing an additional 13,747 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in CECO Environmental during the fourth quarter worth approximately $159,000. Calamos Advisors LLC raised its stake in CECO Environmental by 3.5% during the fourth quarter. Calamos Advisors LLC now owns 217,741 shares of the company’s stock worth $4,416,000 after purchasing an additional 7,430 shares during the period. Finally, Semanteon Capital Management LP acquired a new position in shares of CECO Environmental in the 4th quarter valued at $748,000. 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.