CECO Environmental (NASDAQ:CECO) Shares Up 4% – Should You Buy?

CECO Environmental Corp. (NASDAQ:CECO) rose 4% on Friday . The company traded as high as $27.15 and last traded at $27.14. Approximately 193,176 shares changed hands during trading, a decline of 28% from the average daily volume of 267,399 shares. The stock had previously closed at $26.10.

Wall Street Analyst Weigh In

CECO has been the subject of several recent research reports. Craig Hallum upped their price objective 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 restated a “buy” rating and issued a $35.00 price target on shares of CECO Environmental in a research note on Wednesday, October 30th. Northland Securities lifted their price objective on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Roth Mkm increased their target price on shares of CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC dropped their price target on shares of 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental presently has an average rating of “Buy” and a consensus price target of $34.40.

CECO Environmental Stock Up 4.2 %

The firm’s 50-day moving average price is $26.60 and its 200 day moving average price is $26.58. 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 company has a market capitalization of $951.43 million, a price-to-earnings ratio of 82.42, a PEG ratio of 2.18 and a beta of 1.35.

CECO Environmental (NASDAQ:CECO) last released 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 for the quarter, compared to the consensus estimate of $155.94 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, sell-side analysts forecast that CECO Environmental Corp. will post 0.79 EPS for the current fiscal year.

Insider Activity at CECO Environmental

In related news, Director Richard F. Wallman bought 10,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was purchased at an average price of $28.77 per share, with a total value of $287,700.00. Following the completion of the acquisition, the director now owns 62,000 shares of the company’s stock, valued at $1,783,740. The trade was a 19.23 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 16.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CECO Environmental

Several hedge funds and other institutional investors have recently made changes to their positions in CECO. Swiss National Bank boosted its position in CECO Environmental by 6.0% in the first quarter. Swiss National Bank now owns 61,800 shares of the company’s stock valued at $1,423,000 after buying an additional 3,500 shares in the last quarter. Sei Investments Co. lifted its stake in shares of CECO Environmental by 35.2% in the 1st quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock valued at $1,614,000 after acquiring an additional 18,272 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of CECO Environmental by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company’s stock valued at $35,138,000 after acquiring an additional 24,812 shares in the last quarter. EntryPoint Capital LLC bought a new stake in CECO Environmental during the 1st quarter worth $72,000. Finally, Cruiser Capital Advisors LLC grew its position in CECO Environmental by 25.0% during the 1st quarter. Cruiser Capital Advisors LLC now owns 50,000 shares of the company’s stock worth $1,151,000 after acquiring an additional 10,000 shares during the last quarter. 68.08% of the stock is owned by institutional investors.

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.