CECO Environmental (NASDAQ:CECO) Trading 4.8% Higher - Still a Buy?

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) traded up 4.8% during mid-day trading on Monday . The stock traded as high as $30.92 and last traded at $30.87. 140,905 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 270,601 shares. The stock had previously closed at $29.47.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CECO shares. HC Wainwright reaffirmed a "buy" rating and issued a $35.00 price objective on shares of CECO Environmental in a report on Wednesday, October 30th. Northland Securities raised their price target on CECO Environmental from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, December 20th. Finally, Needham & Company LLC decreased their price objective on CECO Environmental from $35.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $35.00.

CECO Environmental Stock Up 3.5 %

The company's 50 day simple moving average is $28.82 and its 200-day simple moving average is $28.05. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a market capitalization of $1.07 billion, a PE ratio of 92.43, a PEG ratio of 2.92 and a beta of 1.41.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 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 $135.50 million during the quarter, compared to analysts' expectations of $155.94 million. During the same quarter last year, the business posted $0.22 EPS. The company's quarterly revenue was down 9.3% on a year-over-year basis. On average, analysts forecast that CECO Environmental Corp. will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Essex Investment Management Co. LLC raised its stake in CECO Environmental by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 208,426 shares of the company's stock valued at $5,878,000 after purchasing an additional 562 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of CECO Environmental by 71.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company's stock valued at $40,000 after buying an additional 591 shares in the last quarter. Private Advisor Group LLC raised its position in shares of CECO Environmental by 5.8% during the 3rd quarter. Private Advisor Group LLC now owns 16,065 shares of the company's stock valued at $453,000 after buying an additional 885 shares in the last quarter. Principal Financial Group Inc. grew its position in CECO Environmental by 14.8% in the second quarter. Principal Financial Group Inc. now owns 18,916 shares of the company's stock worth $546,000 after acquiring an additional 2,439 shares in the last quarter. Finally, Quest Partners LLC bought a new position in CECO Environmental in the third quarter valued at $69,000. Hedge funds and other institutional investors 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.