CECO Environmental (NASDAQ:CECO) Releases Earnings Results, Beats Estimates By $0.05 EPS

CECO Environmental (NASDAQ:CECO - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.05, Zacks reports. The business had revenue of $158.60 million for the quarter, compared to analyst estimates of $156.09 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The firm's quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the business posted $0.28 earnings per share.

CECO Environmental Stock Performance

CECO stock traded down $0.30 during midday trading on Friday, reaching $24.88. 269,947 shares of the company were exchanged, compared to its average volume of 304,337. The firm has a market capitalization of $870.28 million, a price-to-earnings ratio of 75.40, a price-to-earnings-growth ratio of 1.39 and a beta of 1.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. CECO Environmental has a one year low of $18.50 and a one year high of $35.16. The business has a 50-day moving average price of $28.42 and a two-hundred day moving average price of $28.22.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CECO shares. Needham & Company LLC reissued a "buy" rating and issued a $33.00 price target on shares of CECO Environmental in a research note on Wednesday. HC Wainwright reissued a "neutral" rating on shares of CECO Environmental in a research report on Wednesday. Northland Securities boosted their price objective on shares of CECO Environmental from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Friday, December 20th. Finally, Craig Hallum increased their price target on CECO Environmental from $34.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, CECO Environmental currently has a consensus rating of "Moderate Buy" and an average target price of $36.20.

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Insiders Place Their Bets

In other news, Director Richard F. Wallman bought 1,000 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was bought at an average price of $25.15 per share, with a total value of $25,150.00. Following the completion of the acquisition, the director now owns 207,117 shares of the company's stock, valued at $5,208,992.55. This represents a 0.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 16.90% of the company's stock.

About CECO Environmental

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.