Insider Selling: CECO Environmental Corp. (NASDAQ:CECO) Director Sells 20,000 Shares of Stock

Key Points

• CECO Environmental Corp. Director Claudio A. Mannarino sold 20,000 shares at an average price of $41.51, totaling $830,200, which represents a 20.49% decrease in their holdings.
• The company reported an EPS of $0.24 for the last quarter, exceeding analysts' expectations of $0.20, along with a revenue of $185.39 million.
• Analysts have raised their price targets for CECO Environmental, with a consensus target price of $49.20 and multiple firms giving it a "buy" rating.

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) Director Claudio A. Mannarino sold 20,000 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 77,589 shares of the company's stock, valued at $3,220,719.39. This trade represents a 20.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CECO Environmental Stock Performance

Shares of CECO traded up $0.83 during mid-day trading on Friday, reaching $45.78. 552,942 shares of the company's stock were exchanged, compared to its average volume of 296,776. The business's fifty day simple moving average is $30.26 and its 200-day simple moving average is $26.52. CECO Environmental Corp. has a 52-week low of $17.57 and a 52-week high of $45.95. The stock has a market capitalization of $1.62 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 3.04 and a beta of 1.33. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.34 and a quick ratio of 1.52.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $178.66 million. On average, equities research analysts expect that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Institutional Investors Weigh In On CECO Environmental

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its position in CECO Environmental by 224.7% in 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 purchased a new stake in shares of CECO Environmental in the fourth quarter valued at about $56,000. Heck Capital Advisors LLC purchased a new position in CECO Environmental during the fourth quarter worth $74,000. Caption Management LLC acquired a new stake in shares of CECO Environmental during the 1st quarter worth about $182,000. Finally, XTX Topco Ltd purchased a new stake in CECO Environmental in the 1st quarter worth approximately $217,000. Hedge funds and other institutional investors own 68.08% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on CECO shares. HC Wainwright raised their price target on CECO Environmental from $33.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday. Northland Securities set a $51.00 target price on CECO Environmental in a research report on Wednesday. Needham & Company LLC upped their price target on CECO Environmental from $34.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday. Lake Street Capital reissued a "buy" rating and set a $56.00 price objective on shares of CECO Environmental in a report on Wednesday. Finally, Citigroup restated an "outperform" rating on shares of CECO Environmental in a report on Wednesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CECO Environmental presently has a consensus rating of "Buy" and a consensus target price of $49.20.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.