CECO Environmental (NASDAQ:CECO) Reaches New 52-Week Low – Time to Sell?

CECO Environmental Corp. (NASDAQ:CECO) reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $43.83 and last traded at $43.7460, with a volume of 618,026 shares. The stock had previously closed at $50.21.

Analysts Set New Price Targets

Several research analysts have commented on CECO shares. TD Cowen began coverage on shares of CECO Environmental in a report on Wednesday, August 5th. They issued a “buy” rating and a $85.00 target price for the company. Zacks Research upgraded shares of CECO Environmental from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. JPMorgan Chase & Co. decreased their price objective on shares of CECO Environmental from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, October 13th. Northland Securities set a $125.00 price objective on shares of CECO Environmental in a research report on Thursday, August 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $110.00 target price on shares of CECO Environmental in a research note on Tuesday, August 11th. One equities research 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. According to MarketBeat.com, CECO Environmental presently has an average rating of “Moderate Buy” and an average price target of $102.38.

CECO Environmental Stock Down 8.5%

The business’s 50-day moving average price is $66.47 and its 200-day moving average price is $71.64. The company has a quick ratio of 1.18, a current ratio of 1.50 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.69 billion, a PE ratio of -66.52 and a beta of 1.62.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. The firm had revenue of $284.96 million for 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 firm’s revenue was up 53.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 earnings per share. As a group, equities research analysts predict that CECO Environmental Corp. will post 2.43 EPS for the current fiscal year.

Institutional Investors Weigh In On CECO Environmental

Several institutional investors have recently made changes to their positions in CECO. BlackRock Inc. acquired a new stake in CECO Environmental in the 2nd quarter valued at approximately $392,358,000. Jupiter Topco LLC acquired a new stake in shares of CECO Environmental in the second quarter valued at approximately $86,194,000. Legal & General Group Plc bought a new stake in shares of CECO Environmental in the second quarter worth $40,461,000. Deutsche Bank AG acquired a new position in CECO Environmental during the second quarter worth $30,475,000. Finally, Engineers Gate Manager LP grew its position in CECO Environmental by 6,952.1% in the second quarter. Engineers Gate Manager LP now owns 243,155 shares of the company’s stock valued at $22,064,000 after purchasing an additional 239,707 shares in the last quarter. 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.