CECO Environmental Corp. (NASDAQ:CECO) Director Richard F. Wallman Purchases 4,000 Shares

CECO Environmental Corp. (NASDAQ:CECO) Director Richard F. Wallman bought 4,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were acquired at an average cost of $24.50 per share, for a total transaction of $98,000.00. Following the completion of the acquisition, the director now directly owns 205,319 shares of the company’s stock, valued at approximately $5,030,315.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

CECO Environmental Stock Performance

Shares of CECO opened at $25.05 on Thursday. The firm has a 50-day moving average price of $23.49 and a 200 day moving average price of $21.23. The firm has a market capitalization of $875.25 million, a PE ratio of 71.57, a P/E/G ratio of 1.79 and a beta of 1.24. The company has a quick ratio of 1.19, a current ratio of 1.38 and a debt-to-equity ratio of 0.53. CECO Environmental Corp. has a 52-week low of $10.68 and a 52-week high of $25.82.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $126.30 million during the quarter, compared to analyst estimates of $135.82 million. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. CECO Environmental’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 EPS. On average, sell-side analysts anticipate that CECO Environmental Corp. will post 0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CECO Environmental

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of CECO Environmental by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company’s stock valued at $35,138,000 after purchasing an additional 24,812 shares in the last quarter. RK Capital Management LLC boosted its position in shares of CECO Environmental by 36.6% during the 3rd quarter. RK Capital Management LLC now owns 884,347 shares of the company’s stock valued at $14,123,000 after purchasing an additional 237,093 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of CECO Environmental by 271.2% during the 3rd quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock valued at $10,047,000 after purchasing an additional 459,646 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of CECO Environmental by 22.7% during the 1st quarter. First Eagle Investment Management LLC now owns 592,864 shares of the company’s stock valued at $13,648,000 after purchasing an additional 109,500 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of CECO Environmental by 28.3% during the 4th quarter. Russell Investments Group Ltd. now owns 448,248 shares of the company’s stock valued at $9,090,000 after purchasing an additional 98,951 shares in the last quarter. Institutional investors own 68.08% of the company’s stock.

Analyst Upgrades and Downgrades

CECO has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of CECO Environmental in a report on Wednesday, May 1st. Northland Securities increased their target price on shares of CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Roth Mkm increased their target price on shares of 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 price target on shares of CECO Environmental from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Needham & Company LLC upped their price target on shares of CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus 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.