CECO Environmental (NASDAQ:CECO) Hits New 52-Week High – Time to Buy?

CECO Environmental Corp. (NASDAQ:CECO)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $31.79 and last traded at $31.75, with a volume of 5553 shares trading hands. The stock had previously closed at $31.36.

Wall Street Analyst Weigh In

CECO has been the topic of a number of analyst reports. Roth Mkm increased their price target on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum raised their price target on CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of CECO Environmental in a research report on Wednesday, October 30th. Northland Securities lifted their price objective on CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC lowered their price target on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $34.40.

CECO Environmental Stock Up 5.2 %

The business’s 50-day moving average price is $26.92 and its 200-day moving average price is $26.84. The firm has a market capitalization of $1.15 billion, a PE ratio of 95.03, a price-to-earnings-growth ratio of 2.66 and a beta of 1.35. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05). The company had revenue of $135.50 million during the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The company’s revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS. As a group, equities research analysts predict that CECO Environmental Corp. will post 0.79 EPS for the current fiscal year.

Insider Activity at CECO Environmental

In other news, Director Richard F. Wallman bought 10,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were purchased at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the purchase, the director now owns 62,000 shares of the company’s stock, valued at approximately $1,783,740. The trade was a 19.23 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. grew its holdings in shares of CECO Environmental by 71.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after purchasing an additional 591 shares in the last quarter. CWM LLC grew its stake in CECO Environmental by 45.3% during the second quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after purchasing an additional 708 shares during the period. Quest Partners LLC acquired a new stake in CECO Environmental in the third quarter valued at approximately $69,000. Morse Asset Management Inc bought a new position in shares of CECO Environmental in the third quarter valued at approximately $76,000. Finally, Eastern Bank bought a new stake in CECO Environmental during the third quarter worth $113,000. 68.08% of the stock is owned by institutional investors and hedge funds.

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.