CECO Environmental (NASDAQ:CECO) Shares Gap Down to $25.39

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $25.39, but opened at $21.35. CECO Environmental shares last traded at $23.38, with a volume of 382,383 shares changing hands.

Wall Street Analysts Forecast Growth

CECO has been the topic of several recent analyst reports. Roth Mkm lifted their price objective on shares of CECO Environmental from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. HC Wainwright lifted their price objective on shares of CECO Environmental from $22.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. Needham & Company LLC lifted their price objective on shares of CECO Environmental from $22.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. Finally, Northland Securities lifted their price objective on shares of CECO Environmental from $27.00 to $28.00 and gave the company an "outperform" rating in a research report on Wednesday, March 6th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $26.50.

CECO Environmental Price Performance

The firm's 50-day moving average is $22.59 and its two-hundred day moving average is $20.30. The company has a market cap of $753.89 million, a P/E ratio of 58.43, a PEG ratio of 1.75 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.39 and a quick ratio of 1.22.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.03. CECO Environmental had a net margin of 2.37% and a return on equity of 11.57%. The business had revenue of $153.71 million for the quarter, compared to analysts' expectations of $149.10 million. During the same quarter in the previous year, the business posted $0.21 earnings per share. Analysts anticipate 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 business's stock in a transaction on Wednesday, March 6th. The shares were acquired at an average price of $19.87 per share, for a total transaction of $49,675.00. Following the completion of the transaction, the director now directly owns 7,906 shares of the company's stock, valued at approximately $157,092.22. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 16.90% of the company's stock.

Institutional Trading of CECO Environmental

Large investors have recently made changes to their positions in the stock. AJOVista LLC purchased a new stake in shares of CECO Environmental during the fourth quarter valued at $57,000. Tower Research Capital LLC TRC lifted its stake in CECO Environmental by 89.7% in the fourth 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 period. Kessler Investment Group LLC purchased a new stake in CECO Environmental in the fourth quarter worth about $125,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of CECO Environmental during the fourth quarter valued at about $159,000. Finally, Boston Partners purchased a new stake in shares of CECO Environmental during the third quarter valued at about $201,000. 68.08% of the stock is owned by hedge funds and other 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.