CECO Environmental (NASDAQ:CECO) Reaches New 1-Year High – Time to Buy?

CECO Environmental Corp. (NASDAQ:CECO)’s share price reached 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 changing hands. The stock had previously closed at $31.36.

Wall Street Analysts Forecast Growth

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

CECO Environmental Stock Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The company’s fifty day simple moving average is $26.92 and its two-hundred day simple moving average is $26.84. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 95.03, a P/E/G ratio of 2.66 and a beta of 1.35.

CECO Environmental (NASDAQ:CECO) last issued its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates 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 prior year, the business earned $0.22 EPS. CECO Environmental’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, analysts forecast that CECO Environmental Corp. will post 0.79 earnings per share for the current year.

Insider Transactions at CECO Environmental

In related news, Director Richard F. Wallman bought 10,000 shares of the stock in a transaction on Friday, August 30th. The shares were acquired 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On CECO Environmental

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC lifted its position in CECO Environmental by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 208,426 shares of the company’s stock worth $5,878,000 after buying an additional 562 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of CECO Environmental by 71.6% during the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after acquiring an additional 591 shares during the last quarter. CWM LLC lifted its holdings in CECO Environmental by 45.3% in the second quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after acquiring an additional 708 shares during the period. Private Advisor Group LLC lifted its holdings in CECO Environmental by 5.8% in the third quarter. Private Advisor Group LLC now owns 16,065 shares of the company’s stock valued at $453,000 after acquiring an additional 885 shares during the period. Finally, Kessler Investment Group LLC raised its stake in shares of CECO Environmental by 27.8% during the 2nd quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock worth $207,000 after buying an additional 1,560 shares during the period. 68.08% of the stock is owned by hedge funds and other institutional investors.

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.