CECO Environmental (NASDAQ:CECO) Hits New 1-Year High - Here's Why

Key Points

• CECO Environmental's stock reached a new 52-week high of $53.39, closing at $53.10 with over 437,000 shares traded.
• The company reported quarterly earnings of $0.24 per share, surpassing analysts' expectations of $0.20 and achieving a revenue of $185.39 million against a consensus estimate of $178.66 million.
• Investment analysts are optimistic, with an average rating of "Buy" and a consensus price target set at $50.80, influenced by recent upward adjustments from several firms including HC Wainwright and Needham & Company LLC.

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $53.39 and last traded at $53.10, with a volume of 437102 shares changing hands. The stock had previously closed at $50.28.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CECO. Northland Securities set a $51.00 target price on CECO Environmental in a research report on Wednesday, July 30th. Needham & Company LLC boosted their price target on CECO Environmental from $44.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Citigroup reaffirmed an "outperform" rating on shares of CECO Environmental in a report on Wednesday, July 30th. Weiss Ratings reissued a "buy (b-)" rating on shares of CECO Environmental in a report on Saturday, September 27th. Finally, HC Wainwright upped their price target on shares of CECO Environmental from $33.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $50.80.

CECO Environmental Stock Up 5.6%

The company has a market cap of $1.88 billion, a P/E ratio of 37.13, a PEG ratio of 3.39 and a beta of 1.28. The stock has a 50-day moving average of $47.30 and a 200 day moving average of $33.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.34 and a quick ratio of 1.13.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. CECO Environmental had a net margin of 7.99% and a return on equity of 10.00%. The firm had revenue of $185.39 million for the quarter, compared to the consensus estimate of $178.66 million. CECO Environmental has set its FY 2025 guidance at EPS. Research analysts anticipate that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Insider Activity

In other news, Director Richard F. Wallman acquired 3,000 shares of the stock in a transaction on Friday, August 29th. The stock was acquired at an average cost of $44.25 per share, for a total transaction of $132,750.00. Following the completion of the transaction, the director directly owned 219,909 shares in the company, valued at approximately $9,730,973.25. This trade represents a 1.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Claudio A. Mannarino sold 20,000 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $41.51, for a total value of $830,200.00. Following the sale, the director owned 77,589 shares of the company's stock, valued at $3,220,719.39. The trade was a 20.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 7,500 shares of company stock valued at $339,915 and sold 420,000 shares valued at $20,233,754. 16.90% of the stock is owned by insiders.

Institutional Investors Weigh In On CECO Environmental

A number of hedge funds have recently made changes to their positions in the stock. Hood River Capital Management LLC grew its holdings in shares of CECO Environmental by 0.7% during the 2nd quarter. Hood River Capital Management LLC now owns 1,941,741 shares of the company's stock valued at $54,971,000 after purchasing an additional 14,073 shares during the last quarter. King Luther Capital Management Corp boosted its position in CECO Environmental by 4.6% in the second quarter. King Luther Capital Management Corp now owns 1,177,461 shares of the company's stock valued at $33,334,000 after buying an additional 51,357 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of CECO Environmental by 4.9% during the second quarter. William Blair Investment Management LLC now owns 945,897 shares of the company's stock worth $26,778,000 after buying an additional 44,310 shares during the last quarter. Royce & Associates LP increased its holdings in shares of CECO Environmental by 3.3% during the first quarter. Royce & Associates LP now owns 945,002 shares of the company's stock worth $21,546,000 after buying an additional 29,790 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of CECO Environmental by 2.0% during the second quarter. Thrivent Financial for Lutherans now owns 757,433 shares of the company's stock worth $21,443,000 after buying an additional 15,176 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors and hedge funds.

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.

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