CECO Environmental (NASDAQ:CECO) Trading Down 3.1% - What's Next?

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) traded down 3.1% on Friday . The company traded as low as $26.49 and last traded at $26.58. 29,478 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 259,197 shares. The stock had previously closed at $27.44.

Analyst Ratings Changes

Several brokerages recently issued reports on CECO. Northland Securities lifted their target price on CECO Environmental from $28.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Roth Mkm boosted their target price on shares of CECO Environmental from $26.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. HC Wainwright raised their target price on shares of CECO Environmental from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Craig Hallum boosted their price target on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Finally, Needham & Company LLC raised their price objective on CECO Environmental from $34.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental has an average rating of "Buy" and a consensus target price of $34.80.

CECO Environmental Trading Down 2.1 %

The company has a quick ratio of 1.17, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The stock's 50 day moving average is $27.53 and its 200-day moving average is $26.33. The company has a market cap of $938.38 million, a PE ratio of 76.74, a P/E/G ratio of 2.01 and a beta of 1.33.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.04. The firm had revenue of $137.50 million for the quarter, compared to analysts' expectations of $143.33 million. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The business's revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 EPS. As a group, sell-side analysts anticipate that CECO Environmental Corp. will post 0.93 EPS for the current year.

Insider Transactions at CECO Environmental

In related news, Director Richard F. Wallman purchased 10,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was bought at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the completion of the transaction, the director now directly owns 62,000 shares in the company, valued at $1,783,740. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 16.90% of the company's stock.

Institutional Trading of CECO Environmental

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC boosted its position in CECO Environmental by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 208,426 shares of the company's stock valued at $5,878,000 after buying an additional 562 shares during the period. Inspire Investing LLC purchased a new stake in shares of CECO Environmental in the third quarter valued at approximately $415,000. City Center Advisors LLC bought a new position in CECO Environmental in the third quarter worth approximately $322,000. SG Americas Securities LLC grew its stake in CECO Environmental by 46.0% in the third quarter. SG Americas Securities LLC now owns 10,175 shares of the company's stock worth $287,000 after purchasing an additional 3,206 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in CECO Environmental during the 2nd quarter worth $403,000. 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.