CECO Environmental (NASDAQ:CECO) Reaches New 12-Month High at $24.76

Shares of CECO Environmental Corp. (NASDAQ:CECO) reached a new 52-week high on Thursday . The company traded as high as $24.76 and last traded at $24.69, with a volume of 108461 shares traded. The stock had previously closed at $24.27.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. HC Wainwright upped their target price on CECO Environmental from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Roth Mkm upped their target price on CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Needham & Company LLC upped their target price on CECO Environmental from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Northland Securities upped their target price on CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $26.50.

CECO Environmental Stock Performance

The business’s fifty day moving average price is $22.50 and its 200-day moving average price is $20.18. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 1.39. The stock has a market cap of $882.91 million, a PE ratio of 68.43, a P/E/G ratio of 1.75 and a beta of 1.23.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Tuesday, March 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $153.71 million for the quarter, compared to the consensus estimate of $149.10 million. CECO Environmental had a net margin of 2.37% and a return on equity of 11.57%. During the same quarter last year, the firm posted $0.21 EPS. As a group, equities research analysts forecast that CECO Environmental Corp. will post 0.96 EPS for the current fiscal year.

Insider Activity

In related news, Director Laurie Siegel purchased 2,500 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average price of $19.87 per share, with a total value of $49,675.00. Following the acquisition, the director now directly owns 7,906 shares in the company, valued at approximately $157,092.22. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On CECO Environmental

Institutional investors and hedge funds have recently made changes to their positions in the business. AJOVista LLC purchased a new position in shares of CECO Environmental in the fourth quarter worth approximately $57,000. Tower Research Capital LLC TRC boosted its holdings in shares of CECO Environmental by 89.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $94,000 after buying an additional 2,195 shares during the last quarter. Kessler Investment Group LLC purchased a new position in shares of CECO Environmental in the fourth quarter worth approximately $125,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of CECO Environmental in the fourth quarter worth approximately $159,000. Finally, Guyasuta Investment Advisors Inc. purchased a new position in shares of CECO Environmental in the fourth quarter worth approximately $203,000. 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.