Hood River Capital Management LLC Purchases New Holdings in CECO Environmental Corp. (NASDAQ:CECO)

Hood River Capital Management LLC acquired a new position in shares of CECO Environmental Corp. (NASDAQ:CECO) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 537,105 shares of the company’s stock, valued at approximately $15,495,000.

Other institutional investors also recently made changes to their positions in the company. CWM LLC increased its stake in shares of CECO Environmental by 45.3% in the second quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after buying an additional 708 shares during the last quarter. EntryPoint Capital LLC acquired a new position in CECO Environmental during the 1st quarter worth $72,000. SG Americas Securities LLC bought a new stake in shares of CECO Environmental in the 2nd quarter worth about $201,000. Kessler Investment Group LLC raised its stake in shares of CECO Environmental by 27.8% in the 2nd quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock valued at $207,000 after purchasing an additional 1,560 shares in the last quarter. Finally, Arizona State Retirement System bought a new position in shares of CECO Environmental during the second quarter worth about $239,000. 68.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CECO Environmental

In related news, Director Richard F. Wallman purchased 10,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were bought at an average cost of $28.77 per share, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.90% of the stock is owned by company insiders.

CECO Environmental Price Performance

Shares of CECO opened at $28.37 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.17. The company has a market cap of $991.13 million, a P/E ratio of 81.06, a PEG ratio of 1.89 and a beta of 1.33. CECO Environmental Corp. has a 12 month low of $15.27 and a 12 month high of $31.55. The stock has a fifty day moving average price of $28.10 and a 200 day moving average price of $25.65.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CECO shares. Northland Securities boosted their price objective on 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 target on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC lifted their price objective on shares of CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Craig Hallum increased their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, HC Wainwright raised 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. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $34.80.

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.