CECO Environmental (NASDAQ:CECO) Shares Up 9% - Time to Buy?

Key Points

• CECO Environmental's shares increased by 9% on Wednesday, trading at a high of $51.69 and concluding at $52.15 with a trading volume up by 32% from the average.
• Analysts maintain a Moderate Buy consensus on CECO stock, with most ratings supportive of further growth and price targets ranging from $50.80 to $56.00.
• Insider activity shows that Director Richard F. Wallman purchased shares worth approximately $132,750, while CEO Todd R. Gleason sold over $5 million in shares recently.

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) shares shot up 9% on Wednesday . The stock traded as high as $51.69 and last traded at $52.15. 471,851 shares were traded during mid-day trading, an increase of 32% from the average session volume of 358,194 shares. The stock had previously closed at $47.86.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CECO shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of CECO Environmental in a research report on Wednesday, October 8th. Citigroup reiterated an "outperform" rating on shares of CECO Environmental in a research 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 research report on Wednesday, July 30th. Lake Street Capital reiterated a "buy" rating and set a $56.00 price target on shares of CECO Environmental in a research report on Wednesday, July 30th. Finally, Zacks Research cut shares of CECO Environmental from a "hold" rating to a "strong sell" rating in a research report on Monday, October 6th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, CECO Environmental has a consensus rating of "Moderate Buy" and a consensus target price of $50.80.

CECO Environmental Stock Up 9.7%

The firm's 50 day moving average is $47.99 and its two-hundred day moving average is $34.53. The firm has a market cap of $1.86 billion, a P/E ratio of 36.73, a price-to-earnings-growth ratio of 3.27 and a beta of 1.28. The company has a current ratio of 1.34, a quick ratio of 1.13 and a debt-to-equity ratio of 0.78.

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

Insider Activity at CECO Environmental

In related news, Director Richard F. Wallman purchased 3,000 shares of CECO Environmental stock in a transaction dated Friday, August 29th. The stock was bought at an average price of $44.25 per share, for a total transaction of $132,750.00. Following the completion of the acquisition, the director directly owned 219,909 shares of the company's stock, valued at $9,730,973.25. This represents a 1.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd R. Gleason sold 101,899 shares of the company's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $49.32, for a total transaction of $5,025,658.68. Following the completion of the transaction, the chief executive officer owned 410,835 shares of the company's stock, valued at $20,262,382.20. This trade represents a 19.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 7,500 shares of company stock worth $339,915 and have sold 420,000 shares worth $20,233,754. 16.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its position 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 purchasing an additional 1,000 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of CECO Environmental in the second quarter worth $102,000. Canada Pension Plan Investment Board lifted its position in shares of CECO Environmental by 6,200.0% in the second quarter. Canada Pension Plan Investment Board now owns 6,300 shares of the company's stock worth $178,000 after purchasing an additional 6,200 shares in the last quarter. 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 lifted its position 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 purchasing an additional 1,210 shares in the last quarter. Institutional investors and hedge funds 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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