Insider Buying: CECO Environmental Corp. (NASDAQ:CECO) Director Acquires $109,750.00 in Stock

CECO Environmental Corp. (NASDAQ:CECO) Director Richard F. Wallman bought 5,000 shares of CECO Environmental stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $21.95 per share, with a total value of $109,750.00. Following the completion of the purchase, the director now directly owns 191,853 shares in the company, valued at approximately $4,211,173.35. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

CECO Environmental Stock Performance

NASDAQ CECO opened at $22.45 on Friday. The firm has a 50-day moving average price of $22.74 and a two-hundred day moving average price of $20.41. CECO Environmental Corp. has a 12-month low of $10.68 and a 12-month high of $25.82. The company has a market capitalization of $784.40 million, a P/E ratio of 64.14, a P/E/G ratio of 1.63 and a beta of 1.24. The company has a quick ratio of 1.22, a current ratio of 1.38 and a debt-to-equity ratio of 0.53.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. The business had revenue of $126.30 million during the quarter, compared to analysts’ expectations of $135.82 million. During the same period in the previous year, the company posted $0.10 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. Analysts anticipate that CECO Environmental Corp. will post 0.94 earnings per share for the current year.

Institutional Trading of CECO Environmental

Several large investors have recently modified their holdings of the stock. AJOVista LLC bought a new stake in CECO Environmental during the fourth quarter worth about $57,000. Tower Research Capital LLC TRC lifted its holdings in shares of CECO Environmental by 89.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $94,000 after acquiring an additional 2,195 shares during the period. Kessler Investment Group LLC bought a new position in CECO Environmental in the fourth quarter valued at approximately $125,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in CECO Environmental during the fourth quarter valued at approximately $159,000. Finally, Guyasuta Investment Advisors Inc. bought a new stake in CECO Environmental during the fourth quarter worth $203,000. 68.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CECO has been the topic of several research reports. Northland Securities upped their price objective on shares of CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of CECO Environmental in a report on Wednesday. Roth Mkm boosted their price objective on CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Craig Hallum upped their target price on CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Needham & Company LLC lifted their price target on CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $27.40.

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.