CECO Environmental (NASDAQ:CECO) Stock Price Down 3.1% - Should You Sell?

Key Points

• CECO Environmental's stock price fell by 3.1% to $49.92, with trading volume significantly down by 86% from its average.
• Brokerage reports have shown strong support for CECO, with multiple firms issuing "buy" ratings and increasing price targets, the highest being $56.00.
• Insiders have been active, with one director purchasing shares valued at approximately $140,790, while another sold shares worth $830,200.

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) fell 3.1% during mid-day trading on Friday . The stock traded as low as $50.75 and last traded at $49.92. 48,911 shares were traded during trading, a decline of 86% from the average session volume of 348,556 shares. The stock had previously closed at $51.49.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CECO. HC Wainwright upped 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. Weiss Ratings reiterated a "buy (b-)" rating on shares of CECO Environmental in a research report on Saturday, September 27th. Lake Street Capital reiterated a "buy" rating and set a $56.00 target price on shares of CECO Environmental in a research report on Wednesday, July 30th. Northland Securities set a $51.00 target price on shares of CECO Environmental in a research report on Wednesday, July 30th. Finally, Needham & Company LLC upped their price objective on CECO Environmental from $44.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of $50.80.

CECO Environmental Trading Down 2.3%

The company's fifty day simple moving average is $46.62 and its two-hundred day simple moving average is $33.02. The company has a quick ratio of 1.13, a current ratio of 1.34 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 35.16, a price-to-earnings-growth ratio of 3.02 and a beta of 1.28.

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

Insider Activity at CECO Environmental

In related news, Director Richard F. Wallman acquired 3,000 shares of the company's stock in a transaction that occurred on Friday, September 5th. The shares were acquired 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 in the company, valued at approximately $3,777,865. The trade was a 3.87% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Claudio A. Mannarino sold 20,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $41.51, for a total transaction of $830,200.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 7,500 shares of company stock valued at $339,915 and have sold 420,000 shares valued at $20,233,754. Company insiders own 18.40% of the company's stock.

Institutional Investors Weigh In On CECO Environmental

A number of hedge funds and other institutional investors have recently bought and sold shares of CECO. Osaic Holdings Inc. raised its holdings in shares of CECO Environmental by 3.5% in the second quarter. Osaic Holdings Inc. now owns 12,297 shares of the company's stock valued at $348,000 after purchasing an additional 412 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in CECO Environmental by 2.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 757,433 shares of the company's stock valued at $21,443,000 after buying an additional 15,176 shares during the last quarter. Marex Group plc acquired a new stake in CECO Environmental in the 2nd quarter valued at $707,000. G2 Investment Partners Management LLC acquired a new stake in CECO Environmental in the 2nd quarter valued at $3,397,000. Finally, Engineers Gate Manager LP acquired a new stake in CECO Environmental in the 2nd quarter valued at $335,000. Institutional investors and hedge funds own 68.08% of the company's stock.

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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