CECO Environmental (NASDAQ:CECO) Stock Price Down 4.6% - Time to Sell?

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report)'s stock price fell 4.6% during trading on Monday . The stock traded as low as $28.64 and last traded at $28.23. 24,132 shares changed hands during trading, a decline of 91% from the average session volume of 276,481 shares. The stock had previously closed at $29.60.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Needham & Company LLC lifted their price objective on CECO Environmental from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. HC Wainwright raised shares of CECO Environmental from a "neutral" rating to a "buy" rating and set a $33.00 price target on the stock in a research report on Wednesday, April 30th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CECO Environmental currently has an average rating of "Buy" and an average price target of $36.00.

CECO Environmental Price Performance

The business's fifty day simple moving average is $26.58 and its 200 day simple moving average is $26.13. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.52 and a current ratio of 1.71. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 1.96 and a beta of 1.33.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.10. The business had revenue of $176.70 million during the quarter, compared to analyst estimates of $151.53 million. CECO Environmental had a net margin of 7.80% and a return on equity of 10.10%. The company's revenue for the quarter was up 39.9% on a year-over-year basis. Research analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Institutional Trading of CECO Environmental

Several hedge funds have recently bought and sold shares of CECO. Hood River Capital Management LLC increased its stake in CECO Environmental by 63.0% during the 4th quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company's stock valued at $52,623,000 after buying an additional 673,050 shares during the period. Voya Investment Management LLC increased its stake in shares of CECO Environmental by 6,409.3% during the fourth quarter. Voya Investment Management LLC now owns 645,853 shares of the company's stock valued at $19,524,000 after acquiring an additional 635,931 shares during the period. Granahan Investment Management LLC acquired a new position in shares of CECO Environmental during the first quarter valued at approximately $7,237,000. Raymond James Financial Inc. bought a new stake in CECO Environmental during the fourth quarter worth approximately $7,334,000. Finally, Wellington Management Group LLP lifted its position in CECO Environmental by 74.6% in the first quarter. Wellington Management Group LLP now owns 541,980 shares of the company's stock worth $12,357,000 after purchasing an additional 231,613 shares during the period. 68.08% of the stock is currently 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.