CECO Environmental (NASDAQ:CECO) Stock Price Down 4.8% - Time to Sell?

Key Points

• CECO Environmental's stock price has decreased by 4.8%, closing at $44.71, with trading volume down 73% from its average.
• Investment firms have set new price targets for CECO Environmental, with a consensus target of $49.20, following several analysts rating the stock as a "buy."
• Recent insider trading activity includes a director selling 30,000 shares at an average price of $43.54, reflecting a 13.04% decrease in their holdings.

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report)'s stock price dropped 4.8% during mid-day trading on Wednesday . The company traded as low as $44.95 and last traded at $44.71. Approximately 81,955 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 305,114 shares. The stock had previously closed at $46.95.

Analysts Set New Price Targets

CECO has been the subject of a number of recent analyst reports. Northland Securities set a $51.00 price objective on CECO Environmental in a research note on Wednesday, July 30th. Needham & Company LLC increased their price target on CECO Environmental from $34.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Lake Street Capital reiterated a "buy" rating and set a $56.00 price target on shares of CECO Environmental in a research note on Wednesday, July 30th. Citigroup reiterated an "outperform" rating on shares of CECO Environmental in a research note on Wednesday, July 30th. Finally, HC Wainwright increased their price target on CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental presently has a consensus rating of "Buy" and a consensus price target of $49.20.

CECO Environmental Price Performance

The business has a fifty day moving average of $33.05 and a 200-day moving average of $27.30. The firm has a market cap of $1.63 billion, a PE ratio of 32.20, a PEG ratio of 2.59 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.

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

Insider Transactions at CECO Environmental

In other CECO Environmental news, Director Jason Dezwirek sold 30,000 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $43.54, for a total value of $1,306,200.00. Following the sale, the director owned 200,000 shares of the company's stock, valued at $8,708,000. This trade represents a 13.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Claudio A. Mannarino sold 20,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $41.51, for a total value of $830,200.00. Following the completion of the sale, the director directly 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. Insiders have sold a total of 120,000 shares of company stock worth $5,128,900 in the last three months. 16.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CECO Environmental

A number of large investors have recently modified their holdings of the company. Capital International Investors raised its holdings in shares of CECO Environmental by 12.1% during the 4th quarter. Capital International Investors now owns 1,971,334 shares of the company's stock valued at $59,593,000 after buying an additional 212,476 shares in the last quarter. Hood River Capital Management LLC raised its holdings in shares of 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 in the last quarter. King Luther Capital Management Corp raised its holdings in shares of CECO Environmental by 4.6% during the 2nd quarter. King Luther Capital Management Corp now owns 1,177,461 shares of the company's stock valued at $33,334,000 after buying an additional 51,357 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of CECO Environmental by 4.9% during the 2nd quarter. William Blair Investment Management LLC now owns 945,897 shares of the company's stock valued at $26,778,000 after buying an additional 44,310 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of CECO Environmental by 3.3% during the 1st quarter. Royce & Associates LP now owns 945,002 shares of the company's stock valued at $21,546,000 after buying an additional 29,790 shares in the last quarter. 68.08% of the stock is owned by hedge funds and other institutional investors.

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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