CECO Environmental Corp. (NASDAQ:CECO) Insider Sells $135,264.15 in Stock

CECO Environmental Corp. (NASDAQ:CECO) insider Peter K. Johansson sold 5,601 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $24.15, for a total transaction of $135,264.15. Following the completion of the transaction, the insider now directly owns 84,660 shares in the company, valued at $2,044,539. The trade was a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

CECO Environmental Trading Down 7.5 %

Shares of NASDAQ:CECO opened at $21.35 on Thursday. The business’s 50 day simple moving average is $25.23 and its 200 day simple moving average is $27.65. CECO Environmental Corp. has a 1 year low of $20.00 and a 1 year high of $35.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The company has a market capitalization of $747.04 million, a P/E ratio of 64.70, a P/E/G ratio of 1.39 and a beta of 1.43.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The company had revenue of $158.60 million for the quarter, compared to analysts’ expectations of $156.09 million. During the same quarter last year, the business earned $0.28 earnings per share. CECO Environmental’s revenue was up 3.2% on a year-over-year basis. On average, research analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On CECO Environmental

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC acquired a new position in CECO Environmental during the third quarter valued at approximately $69,000. Charles Schwab Investment Management Inc. lifted its position in shares of CECO Environmental by 185.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company’s stock worth $6,641,000 after buying an additional 152,893 shares during the last quarter. FMR LLC boosted its stake in CECO Environmental by 23.5% in the third quarter. FMR LLC now owns 786,308 shares of the company’s stock valued at $22,174,000 after buying an additional 149,777 shares in the last quarter. Fred Alger Management LLC grew its position in CECO Environmental by 135.9% in the third quarter. Fred Alger Management LLC now owns 312,810 shares of the company’s stock valued at $8,821,000 after acquiring an additional 180,221 shares during the last quarter. Finally, Centiva Capital LP bought a new position in shares of CECO Environmental in the third quarter worth about $287,000. 68.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CECO has been the topic of several research analyst reports. Craig Hallum increased their price target on shares of CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and set a $33.00 target price on shares of CECO Environmental in a research note on Wednesday, February 26th. HC Wainwright reaffirmed a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. Finally, Northland Securities increased their price objective on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, CECO Environmental currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

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.