CECO Environmental (TXSE:CECO) Hits New 52-Week Low – What’s Next?

CECO Environmental Corp. (TXSE:CECO) hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $43.83 and last traded at $43.7460, with a volume of 618,026 shares trading hands. The stock had previously closed at $50.21.

Analyst Ratings Changes

CECO has been the topic of several research analyst reports. TD Cowen assumed coverage on shares of CECO Environmental in a research note on Wednesday, August 5th. They issued a “buy” rating and a $85.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $110.00 price objective on shares of CECO Environmental in a research report on Tuesday, August 11th. Weiss Ratings cut CECO Environmental from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, September 16th. Zacks Research upgraded CECO Environmental from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. Finally, JPMorgan Chase & Co. decreased their target price on CECO Environmental from $130.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, CECO Environmental presently has an average rating of “Moderate Buy” and a consensus price target of $102.38.

CECO Environmental Price Performance

The company has a current ratio of 1.50, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average price is $65.32 and its 200-day moving average price is $71.39. The stock has a market capitalization of $2.54 billion, a PE ratio of -62.49 and a beta of 1.63.

CECO Environmental (TXSE:CECO) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.21. The company had revenue of $284.96 million for the quarter, compared to analysts’ expectations of $282.21 million. CECO Environmental had a positive return on equity of 7.36% and a negative net margin of 3.39%. The firm’s revenue for the quarter was up 53.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 earnings per share. On average, equities analysts forecast that CECO Environmental Corp. will post 2.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp increased its position in CECO Environmental by 29.0% during the 3rd quarter. Fifth Third Bancorp now owns 2,546 shares of the company’s stock valued at $177,000 after purchasing an additional 572 shares during the period. New South Capital Management Inc. raised its holdings in shares of CECO Environmental by 19.1% in the 3rd quarter. New South Capital Management Inc. now owns 306,414 shares of the company’s stock valued at $21,339,000 after purchasing an additional 49,087 shares in the last quarter. Penn Capital Management Company LLC lifted its position in shares of CECO Environmental by 3.3% in the 3rd quarter. Penn Capital Management Company LLC now owns 245,011 shares of the company’s stock worth $17,088,000 after purchasing an additional 7,892 shares during the period. Ethic Inc. lifted its position in shares of CECO Environmental by 18.5% in the 3rd quarter. Ethic Inc. now owns 3,490 shares of the company’s stock worth $243,000 after purchasing an additional 545 shares during the period. Finally, Parallel Advisors LLC lifted its position in shares of CECO Environmental by 15.9% in the 3rd quarter. Parallel Advisors LLC now owns 6,427 shares of the company’s stock worth $448,000 after purchasing an additional 884 shares during the period. Institutional investors own 68.08% of the company’s stock.

CECO Environmental Company Profile

CECO Environmental Corp. (NASDAQ:CECO) is an industrial technology company that designs and supplies environmental and engineered equipment for industrial processes. Its solutions help customers control air pollution, manage industrial emissions, improve process efficiency and handle fluids in demanding operating environments.

The company’s product and service offerings include air pollution control systems, industrial ventilation and filtration equipment, scrubbers, fans, dust collection systems, thermal and heat-transfer equipment, pumps and other fluid-handling technologies.