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

Key Points

• CECO Environmental Corp. recently achieved a new 52-week high of $46.56, reflecting a significant increase from its previous close of $44.42.
• Research analysts have set multiple price targets for CECO, with estimates ranging from $51.00 to $56.00, indicating strong confidence in the stock's potential.
• CECO reported an earnings per share (EPS) of $0.24 for the last quarter, exceeding analyst expectations of $0.20, alongside a revenue of $185.39 million.

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $46.56 and last traded at $46.35, with a volume of 107766 shares traded. The stock had previously closed at $44.42.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Northland Securities set a $51.00 price objective on shares of CECO Environmental in a report on Wednesday, July 30th. Lake Street Capital restated a "buy" rating and issued a $56.00 price objective on shares of CECO Environmental in a report on Wednesday, July 30th. Citigroup restated an "outperform" rating on shares of CECO Environmental in a report on Wednesday, July 30th. HC Wainwright upped their price objective on shares of CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Needham & Company LLC boosted their target price on shares of CECO Environmental from $34.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $49.20.

CECO Environmental Trading Up 5.7%

The stock has a market cap of $1.66 billion, a P/E ratio of 32.84, a PEG ratio of 2.56 and a beta of 1.39. The company has a current ratio of 1.34, a quick ratio of 1.13 and a debt-to-equity ratio of 0.78. The stock's fifty day moving average price is $32.67 and its 200 day moving average price is $27.17.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.24 EPS for the quarter, beating 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 analysts' expectations of $178.66 million. Equities research analysts expect that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Insider Transactions at CECO Environmental

In related news, Director Jason Dezwirek sold 70,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $42.75, for a total value of $2,992,500.00. Following the transaction, the director owned 230,000 shares in the company, valued at $9,832,500. The trade was a 23.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Claudio A. Mannarino sold 20,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was 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. The trade was a 20.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,000 shares of company stock worth $5,128,900. 16.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CECO. Farther Finance Advisors LLC grew its holdings in shares of CECO Environmental by 224.7% in the second quarter. Farther Finance Advisors LLC now owns 1,445 shares of the company's stock worth $41,000 after acquiring an additional 1,000 shares during the period. Mackenzie Financial Corp bought a new stake in shares of CECO Environmental in the fourth quarter worth $56,000. Heck Capital Advisors LLC bought a new stake in shares of CECO Environmental in the fourth quarter worth $74,000. Caption Management LLC bought a new stake in shares of CECO Environmental in the first quarter worth $182,000. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in shares of CECO Environmental by 20.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 7,158 shares of the company's stock worth $203,000 after acquiring an additional 1,210 shares during the period. 68.08% of the stock is owned by institutional investors.

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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