Richard F. Wallman Acquires 5,000 Shares of CECO Environmental Corp. (NASDAQ:CECO) Stock

CECO Environmental Corp. (NASDAQ:CECO) Director Richard F. Wallman purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average cost of $21.95 per share, for a total transaction of $109,750.00. Following the acquisition, the director now owns 191,853 shares of the company’s stock, valued at approximately $4,211,173.35. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

CECO Environmental Stock Performance

Shares of NASDAQ:CECO traded up $1.00 during midday trading on Thursday, hitting $23.00. The company’s stock had a trading volume of 40,106 shares, compared to its average volume of 254,556. The stock has a market capitalization of $802.01 million, a price-to-earnings ratio of 62.86, a PEG ratio of 1.50 and a beta of 1.24. The stock’s 50 day simple moving average is $22.65 and its 200 day simple moving average is $20.35. CECO Environmental Corp. has a fifty-two week low of $10.68 and a fifty-two week high of $25.82. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 1.38.

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. The company had revenue of $126.30 million for the quarter, compared to the consensus estimate of $135.82 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. The firm’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the business posted $0.10 earnings per share. As a group, research analysts anticipate that CECO Environmental Corp. will post 0.96 earnings per share for the current year.

Institutional Investors Weigh In On CECO Environmental

Hedge funds and other institutional investors have recently made changes to their positions in the business. AJOVista LLC acquired a new stake in shares of CECO Environmental in the fourth quarter valued at about $57,000. Tower Research Capital LLC TRC lifted its stake in shares of CECO Environmental by 89.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $94,000 after buying an additional 2,195 shares during the period. Kessler Investment Group LLC bought a new stake in shares of CECO Environmental in the fourth quarter valued at about $125,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of CECO Environmental in the fourth quarter valued at about $159,000. Finally, Boston Partners bought a new stake in shares of CECO Environmental in the third quarter valued at about $201,000. 68.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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