Insider Buying: CECO Environmental (NASDAQ:CECO) Director Purchases 3,000 Shares of Stock

Key Points

• Richard Wallman, a director at CECO Environmental, purchased 3,000 shares at an average price of $46.93, increasing his total holdings in the company to 80,500 shares valued at approximately $3.78 million.
• CECO Environmental reported a quarterly EPS of $0.24, exceeding estimates, and revealed a revenue of $185.39 million for the quarter, surpassing expectations.
• Several analysts have rated CECO Environmental as a "Buy," with price targets ranging from $51.00 to $56.00, indicating a positive outlook for the company's stock.

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) Director Richard F. Wallman purchased 3,000 shares of CECO Environmental stock in a transaction dated Friday, September 5th. The shares were bought at an average price of $46.93 per share, with a total value of $140,790.00. Following the completion of the acquisition, the director directly owned 80,500 shares of the company's stock, valued at approximately $3,777,865. This represents a 3.87% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CECO Environmental Stock Up 1.0%

Shares of NASDAQ:CECO traded up $0.47 on Friday, hitting $48.13. 385,654 shares of the company traded hands, compared to its average volume of 431,348. CECO Environmental Corp. has a 52 week low of $17.57 and a 52 week high of $50.00. The stock has a 50 day simple moving average of $41.31 and a 200-day simple moving average of $30.52. The company has a quick ratio of 1.13, a current ratio of 1.34 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.70 billion, a PE ratio of 33.66, a PEG ratio of 2.77 and a beta of 1.32.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. CECO Environmental had a return on equity of 10.00% and a net margin of 7.99%.The business had revenue of $185.39 million during the quarter, compared to analyst estimates of $178.66 million. CECO Environmental has set its FY 2025 guidance at EPS. As a group, research analysts expect that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CECO. Lake Street Capital restated a "buy" rating and issued a $56.00 price target on shares of CECO Environmental in a research report on Wednesday, July 30th. Needham & Company LLC upped their price target on shares of CECO Environmental from $44.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. HC Wainwright lifted their target price on shares of CECO Environmental from $33.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Citigroup reaffirmed an "outperform" rating on shares of CECO Environmental in a research note on Wednesday, July 30th. Finally, Northland Securities set a $51.00 price objective on shares of CECO Environmental in a report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $50.80.

Institutional Trading of CECO Environmental

A number of large investors have recently made changes to their positions in CECO. Price T Rowe Associates Inc. MD increased its holdings in shares of CECO Environmental by 18.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,373 shares of the company's stock worth $344,000 after buying an additional 1,779 shares during the last quarter. Northern Trust Corp boosted its stake in shares of CECO Environmental by 1.0% during the 4th quarter. Northern Trust Corp now owns 275,310 shares of the company's stock worth $8,323,000 after purchasing an additional 2,638 shares during the period. Bank of America Corp DE boosted its stake in shares of CECO Environmental by 118.8% during the 4th quarter. Bank of America Corp DE now owns 100,484 shares of the company's stock worth $3,038,000 after purchasing an additional 54,551 shares during the period. Deutsche Bank AG boosted its position in CECO Environmental by 52.2% in the 4th quarter. Deutsche Bank AG now owns 25,994 shares of the company's stock valued at $786,000 after buying an additional 8,910 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in CECO Environmental by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,652 shares of the company's stock valued at $503,000 after buying an additional 591 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.