Insider Buying: CECO Environmental Corp. (NASDAQ:CECO) Director Buys 10,000 Shares of Stock

CECO Environmental Corp. (NASDAQ:CECO) Director Richard F. Wallman acquired 10,000 shares of the stock in a transaction dated Friday, August 30th. The stock was acquired at an average cost of $28.77 per share, with a total value of $287,700.00. Following the transaction, the director now owns 62,000 shares of the company’s stock, valued at $1,783,740. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

CECO Environmental Price Performance

CECO Environmental stock opened at $25.31 on Friday. The firm has a fifty day moving average of $28.33 and a 200-day moving average of $25.12. CECO Environmental Corp. has a 52-week low of $13.29 and a 52-week high of $31.55. The company has a quick ratio of 1.17, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $884.23 million, a P/E ratio of 72.31, a PEG ratio of 2.08 and a beta of 1.37.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.04. The firm had revenue of $137.50 million during the quarter, compared to the consensus estimate of $143.33 million. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 EPS. As a group, analysts predict that CECO Environmental Corp. will post 0.93 EPS for the current year.

Institutional Investors Weigh In On CECO Environmental

Several hedge funds have recently modified their holdings of the stock. Gordian Capital Singapore Pte Ltd acquired a new stake in CECO Environmental in the second quarter valued at approximately $403,000. Algert Global LLC boosted its stake in shares of CECO Environmental by 4.9% in the second quarter. Algert Global LLC now owns 121,610 shares of the company’s stock valued at $3,508,000 after purchasing an additional 5,672 shares during the period. Driehaus Capital Management LLC boosted its stake in shares of CECO Environmental by 37.4% in the second quarter. Driehaus Capital Management LLC now owns 586,249 shares of the company’s stock valued at $16,913,000 after purchasing an additional 159,485 shares during the period. AQR Capital Management LLC grew its holdings in CECO Environmental by 95.6% during the 2nd quarter. AQR Capital Management LLC now owns 124,672 shares of the company’s stock valued at $3,597,000 after purchasing an additional 60,925 shares in the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in CECO Environmental during the 2nd quarter worth $15,495,000. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on CECO. Craig Hallum lifted 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 upped their price target on shares of CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Northland Securities lifted their price target on shares of CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Roth Mkm upped their price objective on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC lifted their target price on CECO Environmental from $34.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $34.80.

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.