CECO Environmental (NASDAQ:CECO) Hits New 52-Week Low on Insider Selling

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $19.84 and last traded at $20.02, with a volume of 51285 shares changing hands. The stock had previously closed at $21.35.

Specifically, insider Peter K. Johansson sold 22,500 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $22.80, for a total value of $513,000.00. Following the sale, the insider now directly owns 62,160 shares of the company's stock, valued at approximately $1,417,248. The trade was a 26.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter K. Johansson sold 5,601 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $24.15, for a total transaction of $135,264.15. Following the transaction, the insider now directly owns 84,660 shares of the company's stock, valued at $2,044,539. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

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

CECO Environmental Price Performance

The company has a market capitalization of $677.41 million, a PE ratio of 58.83, a P/E/G ratio of 1.39 and a beta of 1.30. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $24.65 and a 200-day simple moving average of $27.46.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $158.60 million during the quarter, compared to the consensus estimate of $156.09 million. During the same period in the prior year, the company posted $0.28 earnings per share. The firm's quarterly revenue was up 3.2% compared to the same quarter last year. Equities analysts anticipate that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Hedge Funds Weigh In On CECO Environmental

Hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp purchased a new position in CECO Environmental during the 4th quarter worth approximately $56,000. Heck Capital Advisors LLC purchased a new position in shares of CECO Environmental during the fourth quarter worth approximately $74,000. Morse Asset Management Inc purchased a new position in shares of CECO Environmental during the third quarter worth approximately $76,000. Jones Financial Companies Lllp increased its holdings in shares of CECO Environmental by 127.0% in the 4th quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company's stock valued at $90,000 after acquiring an additional 1,658 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in CECO Environmental in the 4th quarter valued at $218,000. 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.