CECO Environmental (NASDAQ:CECO) Stock Price Down 3.3% on Insider Selling

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report)'s stock price dropped 3.3% on Wednesday following insider selling activity. The stock traded as low as $22.45 and last traded at $22.32. Approximately 4,208 shares traded hands during trading, a decline of 99% from the average daily volume of 282,268 shares. The stock had previously closed at $23.09.

Specifically, insider Peter K. Johansson sold 22,500 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $22.80, for a total value of $513,000.00. Following the sale, the insider now owns 62,160 shares in the company, valued at $1,417,248. This represents a 26.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Peter K. Johansson sold 5,601 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $24.15, for a total value of $135,264.15. Following the completion of the transaction, the insider now owns 84,660 shares in the company, valued at $2,044,539. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CECO. HC Wainwright reiterated a "neutral" rating on shares of CECO Environmental in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $33.00 target price on shares of CECO Environmental in a research report on Wednesday, February 26th. Northland Securities boosted their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, December 20th. Finally, Craig Hallum raised their price objective on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a "buy" rating in a report on Monday, January 6th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.20.

CECO Environmental Stock Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The firm has a market capitalization of $683.18 million, a PE ratio of 59.11, a P/E/G ratio of 1.39 and a beta of 1.30. The company's fifty day simple moving average is $24.83 and its 200 day simple moving average is $27.53.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.05. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business had revenue of $158.60 million for the quarter, compared to analysts' expectations of $156.09 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The business's revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities research analysts expect that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Capital International Investors increased its stake in CECO Environmental by 12.1% in the 4th quarter. Capital International Investors now owns 1,971,334 shares of the company's stock worth $59,593,000 after acquiring an additional 212,476 shares during the last quarter. Hood River Capital Management LLC lifted its stake in 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 purchasing an additional 673,050 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of CECO Environmental by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,648,674 shares of the company's stock worth $49,839,000 after purchasing an additional 9,023 shares in the last quarter. King Luther Capital Management Corp raised its holdings in shares of CECO Environmental by 2.3% during 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 buying an additional 23,239 shares in the last quarter. Finally, Royce & Associates LP grew its position in CECO Environmental by 27.2% during the fourth quarter. Royce & Associates LP now owns 915,212 shares of the company's stock valued at $27,667,000 after acquiring an additional 195,425 shares during the last quarter. 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.