Richard F. Wallman Acquires 10,000 Shares of CECO Environmental Corp. (NASDAQ:CECO) Stock

CECO Environmental Corp. (NASDAQ:CECO) Director Richard F. Wallman bought 10,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were bought at an average cost of $28.77 per share, with a total value of $287,700.00. Following the completion of the transaction, the director now owns 62,000 shares in the company, valued at $1,783,740. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

CECO Environmental Stock Performance

CECO stock opened at $26.19 on Thursday. The stock has a 50-day moving average price of $28.37 and a 200-day moving average price of $25.12. CECO Environmental Corp. has a 1-year low of $13.29 and a 1-year high of $31.55. The company has a current ratio of 1.36, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The firm has a market cap of $914.97 million, a PE ratio of 74.83, a price-to-earnings-growth ratio of 2.08 and a beta of 1.37.

CECO Environmental (NASDAQ:CECO) last issued its earnings results on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.16 by $0.04. The company had revenue of $137.50 million during the quarter, compared to the consensus estimate of $143.33 million. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $0.15 EPS. As a group, equities research analysts expect that CECO Environmental Corp. will post 0.93 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on CECO shares. Northland Securities raised their target price on CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Craig Hallum raised their target price on CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC lifted their price objective on CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Roth Mkm lifted their price objective on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, HC Wainwright lifted their price objective on CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental presently has a consensus rating of “Buy” and an average price target of $34.80.

Institutional Trading of CECO Environmental

Several large investors have recently made changes to their positions in CECO. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of CECO Environmental in the 4th quarter valued at about $159,000. Russell Investments Group Ltd. boosted its stake in CECO Environmental by 28.3% during the 4th quarter. Russell Investments Group Ltd. now owns 448,248 shares of the company’s stock valued at $9,090,000 after purchasing an additional 98,951 shares during the last quarter. Swiss National Bank acquired a new position in CECO Environmental during the 4th quarter valued at about $1,182,000. Los Angeles Capital Management LLC acquired a new position in CECO Environmental during the 4th quarter valued at about $729,000. Finally, AJOVista LLC acquired a new position in CECO Environmental during the 4th quarter valued at about $57,000. 68.08% of the stock is currently 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.