CECO Environmental (NASDAQ:CECO) Stock Price Down 4% – What’s Next?

CECO Environmental Corp. (NASDAQ:CECO) was down 4% on Tuesday. The stock traded as low as $55.00 and last traded at $55.20. Approximately 20,318 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 746,902 shares. The stock had previously closed at $57.49.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Zacks Research raised shares of CECO Environmental from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 13th. TD Cowen assumed coverage on shares of CECO Environmental in a research report on Wednesday, August 5th. They set a “buy” rating and a $85.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of CECO Environmental from $130.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, October 13th. Needham & Company LLC reissued a “buy” rating and issued a $110.00 price target on shares of CECO Environmental in a research note on Tuesday, August 11th. Finally, Weiss Ratings lowered CECO Environmental from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $102.38.

CECO Environmental Price Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.50 and a quick ratio of 1.18. The stock has a market cap of $3.35 billion, a P/E ratio of -82.83 and a beta of 1.50. The company’s 50 day simple moving average is $71.63 and its 200 day simple moving average is $75.95.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Monday, August 10th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.21. The company had revenue of $284.96 million for the quarter, compared to analyst estimates of $282.21 million. CECO Environmental had a negative net margin of 3.39% and a positive return on equity of 7.36%. The business’s revenue for the quarter was up 53.7% compared to the same quarter last year. During the same period last year, the business posted $0.26 earnings per share. As a group, equities analysts forecast that CECO Environmental Corp. will post 2.43 earnings per share for the current year.

Institutional Trading of CECO Environmental

A number of large investors have recently made changes to their positions in CECO. Morton Brown Family Wealth LLC bought a new position in CECO Environmental during the first quarter worth about $29,000. Allworth Financial LP acquired a new position in CECO Environmental in the second quarter valued at about $29,000. GAMMA Investing LLC grew its stake in CECO Environmental by 71.6% in the second quarter. GAMMA Investing LLC now owns 369 shares of the company’s stock valued at $33,000 after acquiring an additional 154 shares during the period. KBC Group NV acquired a new position in CECO Environmental in the first quarter valued at about $44,000. Finally, Strs Ohio bought a new stake in shares of CECO Environmental in the first quarter worth about $66,000. Institutional investors own 68.08% of the company’s stock.

About CECO Environmental

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.