CECO Environmental (NASDAQ:CECO) Shares Gap Down to $25.39

CECO Environmental Corp. (NASDAQ:CECO) gapped down before the market opened on Tuesday . The stock had previously closed at $25.39, but opened at $21.35. CECO Environmental shares last traded at $23.38, with a volume of 382,383 shares changing hands.

Analyst Upgrades and Downgrades

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

CECO Environmental Price Performance

The business has a 50-day moving average price of $22.59 and a 200 day moving average price of $20.30. The company has a market cap of $753.19 million, a price-to-earnings ratio of 59.30, a P/E/G ratio of 1.75 and a beta of 1.23. The company has a current ratio of 1.39, a quick ratio of 1.22 and a debt-to-equity ratio of 0.53.

CECO Environmental (NASDAQ:CECO) last released its 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 company had revenue of $153.71 million during the quarter, compared to analyst estimates of $149.10 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.37%. During the same quarter in the prior year, the company earned $0.21 earnings per share. As a group, research analysts expect that CECO Environmental Corp. will post 0.96 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Laurie Siegel acquired 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average cost of $19.87 per share, for a total transaction of $49,675.00. Following the completion of the acquisition, the director now owns 7,906 shares in the company, valued at $157,092.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 16.90% of the company’s stock.

Institutional Trading of CECO Environmental

Hedge funds and other institutional investors have recently modified their holdings of the company. AJOVista LLC purchased a new stake in shares of CECO Environmental during the fourth quarter worth $57,000. Tower Research Capital LLC TRC increased its position in CECO Environmental by 89.7% during 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 acquired a new position in CECO Environmental during the fourth quarter worth $125,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in CECO Environmental during the fourth quarter worth $159,000. Finally, Boston Partners acquired a new position in CECO Environmental during the third quarter worth $201,000. 68.08% of the stock is currently 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.