CECO Environmental (NASDAQ:CECO) Stock Price Down 4% – Time to Sell?

CECO Environmental Corp. (NASDAQ:CECO)’s stock price fell 4% during mid-day trading on Tuesday. The stock traded as low as $55.00 and last traded at $55.20. 20,318 shares traded hands during trading, a decline of 97% from the average session volume of 746,902 shares. The stock had previously closed at $57.49.

Analysts Set New Price Targets

CECO has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 price target on shares of CECO Environmental in a research note on Tuesday, August 11th. Zacks Research upgraded CECO Environmental from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. Northland Securities set a $125.00 target price on CECO Environmental in a report on Thursday, August 13th. JPMorgan Chase & Co. lowered their target price on CECO Environmental from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. Finally, TD Cowen initiated coverage on CECO Environmental in a research report on Wednesday, August 5th. They issued a “buy” rating and a $85.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, CECO Environmental presently has an average rating of “Moderate Buy” and an average target price of $102.38.

CECO Environmental Stock Down 0.7%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 1.50. The stock’s fifty day simple moving average is $70.97 and its two-hundred day simple moving average is $75.91. The stock has a market capitalization of $3.41 billion, a P/E ratio of -84.42 and a beta of 1.50.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results on Monday, August 10th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.21. The firm had revenue of $284.96 million during the quarter, compared to the consensus estimate of $282.21 million. CECO Environmental had a negative net margin of 3.39% and a positive return on equity of 7.36%. The company’s revenue for the quarter was up 53.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 earnings per share. As a group, research analysts expect that CECO Environmental Corp. will post 2.43 EPS for the current fiscal year.

Institutional Trading of CECO Environmental

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Amundi lifted its position in shares of CECO Environmental by 17.8% in the 2nd quarter. Amundi now owns 198,106 shares of the company’s stock worth $17,976,000 after purchasing an additional 29,907 shares during the period. Jupiter Topco LLC bought a new stake in shares of CECO Environmental in the 2nd quarter valued at $86,194,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of CECO Environmental during the second quarter worth $1,184,000. Bank of America Corp DE acquired a new stake in shares of CECO Environmental during the second quarter worth $21,188,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of CECO Environmental by 39.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,269 shares of the company’s stock worth $7,647,000 after buying an additional 23,959 shares during the period. 68.08% of the stock is currently owned by institutional investors and hedge funds.

CECO Environmental Company Profile

CECO Environmental Corp. (NASDAQ:CECO) is an industrial technology company that designs and supplies environmental and engineered equipment for industrial processes. Its solutions help customers control air pollution, manage industrial emissions, improve process efficiency and handle fluids in demanding operating environments.

The company’s product and service offerings include air pollution control systems, industrial ventilation and filtration equipment, scrubbers, fans, dust collection systems, thermal and heat-transfer equipment, pumps and other fluid-handling technologies.