CECO Environmental (NASDAQ:CECO) Sets New 52-Week High - Here's Why

Key Points

• CECO Environmental Corp.'s stock reached a **new 52-week high** of $52.65 during trading, closing at $51.52 with a total volume of 157,639 shares.
• Several analysts upgraded their price targets, with Needham & Company raising theirs from **$44.00 to $52.00** and giving a "buy" rating, while HC Wainwright set a target of **$55.00**.
• The company reported quarterly earnings of **$0.24 per share**, exceeding analyst expectations, and achieved revenue of **$185.39 million** for the quarter.

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $52.65 and last traded at $51.52, with a volume of 157639 shares. The stock had previously closed at $51.20.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Needham & Company LLC boosted their price objective on shares of CECO Environmental from $44.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Lake Street Capital reissued a "buy" rating and issued a $56.00 price objective on shares of CECO Environmental in a research note on Wednesday, July 30th. Northland Securities set a $51.00 price target on shares of CECO Environmental in a report on Wednesday, July 30th. HC Wainwright lifted their price target 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, Citigroup reaffirmed an "outperform" rating on shares of CECO Environmental in a report on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, CECO Environmental has an average rating of "Buy" and an average target price of $50.80.

CECO Environmental Stock Up 1.4%

The stock has a market capitalization of $1.83 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 2.93 and a beta of 1.32. 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 business's fifty day moving average price is $45.90 and its two-hundred day moving average price is $32.69.

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 for the quarter, beating analysts' consensus estimates of $0.20 by $0.04. The firm 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. On average, equities research analysts forecast that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Insider Activity at CECO Environmental

In other news, CEO Todd R. Gleason sold 98,101 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $50.45, for a total transaction of $4,949,195.45. Following the sale, the chief executive officer directly owned 410,835 shares of the company's stock, valued at $20,726,625.75. The trade was a 19.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard F. Wallman acquired 3,000 shares of the company's stock in a transaction dated Friday, September 5th. The shares were bought at an average cost of $46.93 per share, for a total transaction of $140,790.00. Following the completion of the acquisition, the director directly owned 80,500 shares of the company's stock, valued at approximately $3,777,865. The trade was a 3.87% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 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 currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its position in CECO Environmental by 224.7% during the second quarter. Farther Finance Advisors LLC now owns 1,445 shares of the company's stock valued at $41,000 after purchasing an additional 1,000 shares during the period. Mackenzie Financial Corp acquired a new position in CECO Environmental during the fourth quarter valued at $56,000. Raymond James Financial Inc. acquired a new position in CECO Environmental during the second quarter valued at $102,000. Canada Pension Plan Investment Board lifted its position in CECO Environmental by 6,200.0% during the second 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 during the period. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in CECO Environmental by 20.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 7,158 shares of the company's stock valued at $203,000 after purchasing an additional 1,210 shares during the period. 68.08% of the stock is currently owned by institutional investors and hedge funds.

CECO Environmental Company Profile

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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