CECO Environmental (NASDAQ:CECO) Shares Gap Down to $25.39

CECO Environmental Corp. (NASDAQ:CECO)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $25.39, but opened at $21.35. CECO Environmental shares last traded at $23.38, with a volume of 382,383 shares.

Wall Street Analyst Weigh In

CECO has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of CECO Environmental in a report on Wednesday. Craig Hallum boosted their target price on shares of CECO Environmental from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday. Northland Securities raised their price target on shares of CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Needham & Company LLC lifted their price objective on shares of CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Roth Mkm increased their target price on shares of CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $27.40.

CECO Environmental Price Performance

The firm has a market cap of $767.14 million, a PE ratio of 59.46, a price-to-earnings-growth ratio of 1.76 and a beta of 1.23. The company has a quick ratio of 1.22, a current ratio of 1.39 and a debt-to-equity ratio of 0.53. The stock has a 50 day moving average price of $22.62 and a two-hundred day moving average price of $20.33.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. The business had revenue of $126.30 million during the quarter, compared to analysts’ expectations of $135.82 million. CECO Environmental had a net margin of 2.37% and a return on equity of 11.57%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the company posted $0.10 earnings per share. As a group, equities analysts expect that CECO Environmental Corp. will post 0.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Laurie Siegel acquired 2,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $19.87 per share, with a total value of $49,675.00. Following the completion of the acquisition, the director now owns 7,906 shares of the company’s stock, valued at $157,092.22. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 16.90% of the stock is currently owned by insiders.

Institutional Trading of CECO Environmental

Several large investors have recently made changes to their positions in the business. AJOVista LLC purchased a new position in shares of CECO Environmental during the fourth quarter worth $57,000. Tower Research Capital LLC TRC raised its stake in shares of CECO Environmental by 89.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $94,000 after buying an additional 2,195 shares during the last quarter. Kessler Investment Group LLC purchased a new position in shares of CECO Environmental during the 4th quarter valued at about $125,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of CECO Environmental in the 4th quarter valued at about $159,000. Finally, Boston Partners purchased a new stake in shares of CECO Environmental in the third quarter worth about $201,000. 68.08% of the stock is owned by hedge funds and other institutional investors.

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.