CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $24.76 and last traded at $24.69, with a volume of 108461 shares trading hands. The stock had previously closed at $24.27.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on CECO. Needham & Company LLC raised their price objective on CECO Environmental from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. Roth Mkm raised their price objective on CECO Environmental from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. Northland Securities lifted their target price on CECO Environmental from $27.00 to $28.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 6th. Finally, HC Wainwright lifted their target price on CECO Environmental from $22.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $26.50.
Read Our Latest Stock Analysis on CECO
CECO Environmental Trading Up 4.1 %
The firm has a market cap of $880.82 million, a P/E ratio of 68.27, a P/E/G ratio of 1.65 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 1.39. The firm has a fifty day moving average of $22.41 and a 200-day moving average of $20.11.
CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its earnings results on Tuesday, March 5th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $153.71 million for the quarter, compared to the consensus estimate of $149.10 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.37%. During the same quarter in the previous year, the business earned $0.21 EPS. Equities research analysts forecast that CECO Environmental Corp. will post 0.96 earnings per share for the current year.
Insider Buying and Selling at CECO Environmental
In other news, Director Laurie Siegel acquired 2,500 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $19.87 per share, with a total value of $49,675.00. Following the purchase, the director now owns 7,906 shares of the company's stock, valued at $157,092.22. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 15.80% of the stock is owned by company insiders.
Hedge Funds Weigh In On CECO Environmental
Hedge funds have recently modified their holdings of the stock. AJOVista LLC acquired a new position in shares of CECO Environmental in the 4th quarter worth $57,000. Tower Research Capital LLC TRC grew its holdings in shares of CECO Environmental by 89.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company's stock worth $94,000 after acquiring an additional 2,195 shares during the last quarter. Kessler Investment Group LLC purchased a new position in shares of CECO Environmental during the fourth quarter valued at $125,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of CECO Environmental during the fourth quarter valued at $159,000. Finally, Guyasuta Investment Advisors Inc. purchased a new position in shares of CECO Environmental during the fourth quarter valued at $203,000. 68.08% of the stock is currently owned by institutional investors and hedge funds.
About CECO Environmental
(
Get Free Report)
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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