CECO Environmental (NASDAQ:CECO) Hits New 52-Week High at $27.14

CECO Environmental Corp. (NASDAQ:CECO) shares reached a new 52-week high on Thursday . The company traded as high as $27.14 and last traded at $26.95, with a volume of 13562 shares. The stock had previously closed at $26.45.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CECO shares. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of CECO Environmental in a report on Wednesday, May 1st. Needham & Company LLC boosted their target price on shares of CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Roth Mkm increased their price target on shares of CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Craig Hallum upped their price objective on shares of CECO Environmental from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Northland Securities increased their target price on shares of CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $27.40.

CECO Environmental Stock Performance

The company has a quick ratio of 1.19, a current ratio of 1.38 and a debt-to-equity ratio of 0.53. The stock’s 50-day moving average price is $24.54 and its 200 day moving average price is $22.25. The company has a market cap of $1.01 billion, a P/E ratio of 82.43, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, April 30th. The company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The firm had revenue of $126.30 million for the quarter, compared to the consensus estimate of $135.82 million. During the same quarter last year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, research analysts expect that CECO Environmental Corp. will post 0.94 EPS for the current fiscal year.

Insider Buying and Selling

In other CECO Environmental news, Director Richard F. Wallman bought 4,000 shares of the stock in a transaction on Tuesday, May 21st. The shares were purchased at an average price of $24.50 per share, with a total value of $98,000.00. Following the acquisition, the director now directly owns 205,319 shares of the company’s stock, valued at approximately $5,030,315.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Richard F. Wallman bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average cost of $24.50 per share, for a total transaction of $98,000.00. Following the purchase, the director now directly owns 205,319 shares in the company, valued at $5,030,315.50. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard F. Wallman purchased 5,000 shares of CECO Environmental stock in a transaction on Wednesday, May 1st. The stock was bought at an average cost of $21.95 per share, with a total value of $109,750.00. Following the completion of the acquisition, the director now owns 191,853 shares in the company, valued at $4,211,173.35. The disclosure for this purchase can be found here. 16.90% of the stock is owned by insiders.

Institutional Investors Weigh In On CECO Environmental

A number of institutional investors have recently added to or reduced their stakes in CECO. Great Lakes Advisors LLC bought a new stake in shares of CECO Environmental in the 4th quarter worth approximately $2,720,000. Los Angeles Capital Management LLC acquired a new stake in CECO Environmental during the fourth quarter worth $729,000. Wellington Management Group LLP increased its holdings in CECO Environmental by 271.2% in the 3rd quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock valued at $10,047,000 after buying an additional 459,646 shares during the period. Guyasuta Investment Advisors Inc. acquired a new position in shares of CECO Environmental in the 4th quarter valued at $203,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of CECO Environmental by 28.3% during the 4th quarter. Russell Investments Group Ltd. now owns 448,248 shares of the company’s stock worth $9,090,000 after acquiring an additional 98,951 shares during the period. 68.08% of the stock is owned by institutional investors and hedge funds.

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.