CECO Environmental (NASDAQ:CECO) Hits New 1-Year Low - Here's What Happened

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $17.57 and last traded at $17.87, with a volume of 146985 shares. The stock had previously closed at $19.36.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CECO shares. Needham & Company LLC reissued a "buy" rating and issued a $33.00 target price on shares of CECO Environmental in a research note on Wednesday, February 26th. Craig Hallum boosted their price objective on CECO Environmental from $34.00 to $40.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, HC Wainwright reaffirmed a "neutral" rating on shares of CECO Environmental in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.20.

CECO Environmental Trading Up 0.1 %

The business's 50-day simple moving average is $22.36 and its two-hundred day simple moving average is $26.61. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $683.56 million, a price-to-earnings ratio of 58.71, a PEG ratio of 1.39 and a beta of 1.30.

CECO Environmental (NASDAQ:CECO - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The business had revenue of $158.60 million during the quarter, compared to analyst estimates of $156.09 million. During the same period last year, the business posted $0.28 earnings per share. The company's quarterly revenue was up 3.2% on a year-over-year basis. Equities analysts forecast that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Insider Activity at CECO Environmental

In other news, insider Peter K. Johansson sold 22,500 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $22.80, for a total transaction of $513,000.00. Following the completion of the transaction, the insider now directly owns 62,160 shares of the company's stock, valued at approximately $1,417,248. The trade was a 26.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard F. Wallman bought 1,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average cost of $25.15 per share, for a total transaction of $25,150.00. Following 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 disclosure for this purchase can be found here. Company insiders own 16.90% of the company's stock.

Hedge Funds Weigh In On CECO Environmental

Several large investors have recently bought and sold shares of the business. Capital International Investors grew its position in CECO Environmental by 12.1% in the 4th quarter. Capital International Investors now owns 1,971,334 shares of the company's stock valued at $59,593,000 after buying an additional 212,476 shares during the last quarter. Hood River Capital Management LLC increased its stake in shares of CECO Environmental by 63.0% during the fourth quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company's stock worth $52,623,000 after acquiring an additional 673,050 shares during the period. Vanguard Group Inc. lifted its position in CECO Environmental by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,648,674 shares of the company's stock valued at $49,839,000 after purchasing an additional 9,023 shares during the period. King Luther Capital Management Corp boosted its holdings in CECO Environmental by 2.3% in the 4th quarter. King Luther Capital Management Corp now owns 1,033,789 shares of the company's stock valued at $31,251,000 after purchasing an additional 23,239 shares in the last quarter. Finally, Royce & Associates LP raised its stake in shares of CECO Environmental by 27.2% during the 4th quarter. Royce & Associates LP now owns 915,212 shares of the company's stock worth $27,667,000 after buying an additional 195,425 shares in the last quarter. Hedge funds and other institutional investors own 68.08% of the company's stock.

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.