CECO Environmental (NASDAQ:CECO) Reaches New 1-Year High - What's Next?

Key Points

• CECO Environmental Corp. has reached a new 52-week high, trading at $50.41, with analysts increasing their target prices following strong quarterly earnings.
• Multiple analysts have given the company a consensus "Buy" rating and set an average price target of $50.80, with some analysts projecting targets as high as $56.00.
• Insider trading activity included significant stock sales by directors, which saw a 20.49% decrease in one director's holdings, raising concerns about insider sentiment.

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $50.41 and last traded at $50.16, with a volume of 92084 shares. The stock had previously closed at $48.13.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. HC Wainwright upped their target price on shares of CECO Environmental from $33.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Citigroup restated an "outperform" rating on shares of CECO Environmental in a report on Wednesday, July 30th. Northland Securities set a $51.00 target price on shares of CECO Environmental in a report on Wednesday, July 30th. Needham & Company LLC upped their target price on shares of CECO Environmental from $44.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Finally, Lake Street Capital restated a "buy" rating and issued a $56.00 target price on shares of CECO Environmental in a report on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $50.80.

CECO Environmental Trading Up 2.5%

The company has a debt-to-equity ratio of 0.78, a current ratio of 1.34 and a quick ratio of 1.13. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 2.80 and a beta of 1.32. The business's 50 day simple moving average is $41.31 and its 200 day simple moving average is $30.55.

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

Insiders Place Their Bets

In other CECO Environmental news, Director Claudio A. Mannarino sold 20,000 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $41.51, for a total transaction of $830,200.00. Following the completion of the transaction, the director owned 77,589 shares in the company, valued at approximately $3,220,719.39. This represents a 20.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jason Dezwirek sold 70,000 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $42.75, for a total transaction of $2,992,500.00. Following the transaction, the director owned 230,000 shares of the company's stock, valued at approximately $9,832,500. The trade was a 23.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 7,500 shares of company stock worth $339,915 and sold 120,000 shares worth $5,128,900. 18.40% of the stock is owned by insiders.

Hedge Funds Weigh In On CECO Environmental

Large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in CECO Environmental by 224.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,445 shares of the company's stock worth $41,000 after buying an additional 1,000 shares during the last quarter. Mackenzie Financial Corp purchased a new position in CECO Environmental during the 4th quarter worth $56,000. Heck Capital Advisors LLC purchased a new position in shares of CECO Environmental in the 4th quarter valued at about $74,000. Raymond James Financial Inc. purchased a new position in shares of CECO Environmental in the 2nd quarter valued at about $102,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of CECO Environmental by 6,200.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,300 shares of the company's stock valued at $178,000 after purchasing an additional 6,200 shares in the last quarter. Hedge funds and other institutional investors own 68.08% of the company's stock.

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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