CECO Environmental (NASDAQ:CECO) Stock Price Down 4.2% - Time to Sell?

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report)'s stock price was down 4.2% on Tuesday . The stock traded as low as $23.65 and last traded at $24.09. Approximately 30,455 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 278,218 shares. The stock had previously closed at $25.14.

Analyst Ratings Changes

CECO has been the topic of several analyst reports. Northland Securities lifted their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Friday, December 20th. Craig Hallum upped their price objective on CECO Environmental from $34.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. HC Wainwright reaffirmed a "neutral" rating on shares of CECO Environmental in a research report on Wednesday, February 26th. Finally, Needham & Company LLC restated a "buy" rating and set a $33.00 price target on shares of CECO Environmental in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $36.20.

CECO Environmental Stock Down 3.5 %

The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The firm has a market cap of $829.26 million, a price-to-earnings ratio of 71.82, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43. The stock has a 50-day moving average of $25.69 and a 200-day moving average of $27.74.

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CECO Environmental (NASDAQ:CECO - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. The business had revenue of $158.60 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share. As a group, sell-side analysts forecast that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard F. Wallman acquired 1,000 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were purchased at an average price of $25.15 per share, with a total value of $25,150.00. Following the acquisition, the director now directly owns 207,117 shares in the company, valued at $5,208,992.55. The trade was a 0.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 16.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Heck Capital Advisors LLC bought a new stake in shares of CECO Environmental during the 4th quarter worth approximately $74,000. Mackenzie Financial Corp acquired a new stake in CECO Environmental during the fourth quarter worth about $56,000. Gordian Capital Singapore Pte Ltd increased its stake in shares of CECO Environmental by 86.2% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 66,098 shares of the company's stock valued at $1,998,000 after purchasing an additional 30,598 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of CECO Environmental by 18.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 88,137 shares of the company's stock valued at $2,664,000 after purchasing an additional 13,930 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in CECO Environmental in the 4th quarter worth about $949,000. Institutional investors and hedge funds own 68.08% 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.