CECO Environmental (NASDAQ:CECO) Trading Up 4.8% – Here’s What Happened

CECO Environmental Corp. (NASDAQ:CECO) traded up 4.8% during mid-day trading on Monday . The company traded as high as $30.92 and last traded at $30.87. 140,905 shares were traded during trading, a decline of 48% from the average session volume of 270,601 shares. The stock had previously closed at $29.47.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Needham & Company LLC lowered their price target 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. HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of CECO Environmental in a report on Wednesday, October 30th. Finally, Northland Securities lifted their price target on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $35.00.

CECO Environmental Stock Down 0.9 %

The company has a market cap of $1.06 billion, a price-to-earnings ratio of 91.61, a PEG ratio of 2.92 and a beta of 1.41. The business has a fifty day moving average of $28.97 and a two-hundred day moving average of $28.15. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO) last announced 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 analyst estimates of $155.94 million. During the same period in the previous year, the company earned $0.22 earnings per share. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. As a group, equities analysts anticipate that CECO Environmental Corp. will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CECO. Principal Financial Group Inc. increased its position in shares of CECO Environmental by 17.6% during the third quarter. Principal Financial Group Inc. now owns 22,246 shares of the company’s stock worth $627,000 after purchasing an additional 3,330 shares in the last quarter. Barclays PLC grew its holdings in shares of CECO Environmental by 115.0% during the third quarter. Barclays PLC now owns 63,615 shares of the company’s stock worth $1,795,000 after buying an additional 34,027 shares in the last quarter. Geode Capital Management LLC raised its position in shares of CECO Environmental by 1.7% in the third quarter. Geode Capital Management LLC now owns 689,487 shares of the company’s stock valued at $19,448,000 after buying an additional 11,857 shares during the last quarter. Gordian Capital Singapore Pte Ltd lifted its stake in shares of CECO Environmental by 153.9% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 35,500 shares of the company’s stock worth $1,001,000 after buying an additional 21,517 shares in the last quarter. Finally, SageView Advisory Group LLC boosted its position in CECO Environmental by 89.4% during the third quarter. SageView Advisory Group LLC now owns 28,840 shares of the company’s stock worth $813,000 after acquiring an additional 13,615 shares during the last quarter. 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.