Insider Buying: CECO Environmental Corp. (NASDAQ:CECO) Director Purchases 5,000 Shares of Stock

CECO Environmental Corp. (NASDAQ:CECO) Director Richard F. Wallman purchased 5,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $21.95 per share, with a total value of $109,750.00. Following the completion of the acquisition, the director now owns 191,853 shares in the company, valued at approximately $4,211,173.35. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

CECO Environmental Price Performance

Shares of CECO opened at $22.45 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.38 and a debt-to-equity ratio of 0.53. 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 market cap of $784.40 million, a P/E ratio of 64.14, a PEG ratio of 1.57 and a beta of 1.24. The firm’s 50 day moving average price is $22.70 and its 200 day moving average price is $20.36.

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

Hedge Funds Weigh In On CECO Environmental

Large investors have recently bought and sold shares of the business. Essex Investment Management Co. LLC boosted its position in shares of CECO Environmental by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 205,982 shares of the company’s stock worth $4,742,000 after acquiring an additional 3,147 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in CECO Environmental by 247.5% during the first quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock worth $1,025,000 after purchasing an additional 31,707 shares during the last quarter. Precision Wealth Strategies LLC acquired a new position in CECO Environmental in the first quarter valued at approximately $255,000. Principal Financial Group Inc. purchased a new position in CECO Environmental in the first quarter valued at approximately $379,000. Finally, Robeco Schweiz AG acquired a new stake in CECO Environmental during the first quarter worth approximately $2,738,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Analysts Set New Price Targets

CECO has been the topic of a number of recent analyst reports. Needham & Company LLC upped their target price on shares of CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. Northland Securities upped their price objective 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. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of CECO Environmental in a report on Wednesday. Craig Hallum boosted their target price on CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Roth Mkm raised their price target on CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental presently has a consensus 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.