CECO Environmental (NASDAQ:CECO) Shares Up 4% - Still a Buy?

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) shot up 4% during mid-day trading on Friday . The stock traded as high as $27.15 and last traded at $27.14. 193,176 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 267,399 shares. The stock had previously closed at $26.10.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CECO. Roth Mkm lifted their price objective on shares of CECO Environmental from $26.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Needham & Company LLC lowered their price target on shares of CECO Environmental from $35.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, October 30th. Craig Hallum boosted their price objective on shares of CECO Environmental from $28.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Northland Securities increased their target price on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. Finally, HC Wainwright restated a "buy" rating and set a $35.00 price target on shares of CECO Environmental in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $34.40.

CECO Environmental Trading Up 4.2 %

The stock's 50 day simple moving average is $26.60 and its 200 day simple moving average is $26.58. 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 cap of $951.43 million, a PE ratio of 82.42, a PEG ratio of 2.18 and a beta of 1.35.

CECO Environmental (NASDAQ:CECO - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.05). The firm had revenue of $135.50 million for the quarter, compared to analysts' expectations of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company's revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. On average, sell-side analysts forecast that CECO Environmental Corp. will post 0.79 earnings per share for the current fiscal year.

Insider Buying and Selling at CECO Environmental

In related news, Director Richard F. Wallman bought 10,000 shares of the stock in a transaction dated Friday, August 30th. The stock was bought at an average price of $28.77 per share, with a total value of $287,700.00. Following the purchase, the director now owns 62,000 shares in the company, valued at approximately $1,783,740. The trade was a 19.23 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 16.90% of the company's stock.

Hedge Funds Weigh In On CECO Environmental

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its holdings in shares of CECO Environmental by 247.5% in the first quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company's stock worth $1,025,000 after purchasing an additional 31,707 shares during the last quarter. Boston Partners purchased a new position in shares of CECO Environmental in the first quarter valued at about $516,000. Vanguard Group Inc. raised its stake in shares of CECO Environmental by 1.7% during the first quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company's stock valued at $35,138,000 after acquiring an additional 24,812 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of CECO Environmental by 35.2% during the first quarter. Sei Investments Co. now owns 70,129 shares of the company's stock worth $1,614,000 after purchasing an additional 18,272 shares during the period. Finally, Hood River Capital Management LLC purchased a new position in CECO Environmental during the 2nd quarter valued at about $15,495,000. 68.08% of the stock is owned by hedge funds and other institutional investors.

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.