CECO Environmental (NASDAQ:CECO) Shares Down 4.2% – Time to Sell?

CECO Environmental Corp. (NASDAQ:CECO) was down 4.2% on Tuesday . The company traded as low as $23.65 and last traded at $24.09. Approximately 30,455 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 278,218 shares. The stock had previously closed at $25.14.

Wall Street Analyst Weigh In

CECO has been the subject of several research reports. Northland Securities upped their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Craig Hallum boosted their price target on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. HC Wainwright restated a “neutral” rating on shares of CECO Environmental in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $33.00 price target on shares of CECO Environmental in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.20.

CECO Environmental Trading Up 0.2 %

The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average of $25.96 and a 200-day moving average of $27.78. The stock has a market cap of $845.36 million, a PE ratio of 73.21, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The business had revenue of $158.60 million for the quarter, compared to the consensus estimate of $156.09 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share. On average, analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current year.

Insider Activity at CECO Environmental

In other news, Director Richard F. Wallman acquired 1,000 shares of CECO Environmental stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average cost of $25.15 per share, with a total value of $25,150.00. Following the purchase, the director now directly owns 207,117 shares of the company’s stock, valued at approximately $5,208,992.55. This trade represents a 0.49 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 16.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp acquired a new stake in CECO Environmental in the 4th quarter valued at $56,000. Heck Capital Advisors LLC purchased a new position in shares of CECO Environmental during the 4th quarter valued at approximately $74,000. Quest Partners LLC acquired a new stake in shares of CECO Environmental during the third quarter worth approximately $69,000. Morse Asset Management Inc acquired a new position in CECO Environmental during the 3rd quarter worth $76,000. Finally, Jones Financial Companies Lllp increased its holdings in CECO Environmental by 127.0% in the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock valued at $90,000 after buying an additional 1,658 shares during the last quarter. Hedge funds and other 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.