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 acquired 3,000 shares of CECO Environmental stock in a transaction dated Friday, September 5th. The shares were acquired at an average price of $46.93 per share, with a total value of $140,790.00. Following the completion of the transaction, the director owned 80,500 shares of the company's stock, valued at approximately $3,777,865. This trade represents a 3.87% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

CECO Environmental Price Performance

CECO traded up $0.47 during trading on Friday, reaching $48.13. The stock had a trading volume of 385,654 shares, compared to its average volume of 431,348. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 33.66, a price-to-earnings-growth ratio of 2.77 and a beta of 1.32. The company has a quick ratio of 1.13, a current ratio of 1.34 and a debt-to-equity ratio of 0.78. CECO Environmental Corp. has a 1-year low of $17.57 and a 1-year high of $50.00. The stock has a 50 day moving average of $41.31 and a two-hundred day moving average of $30.47.

CECO Environmental (NASDAQ:CECO - Get Free Report) last released 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. The firm had revenue of $185.39 million during the quarter, compared to the consensus estimate of $178.66 million. CECO Environmental had a return on equity of 10.00% and a net margin of 7.99%. CECO Environmental has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CECO has been the topic of several recent analyst reports. Lake Street Capital reissued a "buy" rating and set a $56.00 target price on shares of CECO Environmental in a research note on Wednesday, July 30th. Needham & Company LLC boosted their target price on shares of CECO Environmental from $44.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. HC Wainwright boosted 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 reissued an "outperform" rating on shares of CECO Environmental in a research note on Wednesday, July 30th. Finally, Northland Securities set a $51.00 target price on shares of CECO Environmental in a research note on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $50.80.

Hedge Funds Weigh In On CECO Environmental

A number of hedge funds have recently modified their holdings of CECO. Farther Finance Advisors LLC increased its stake in shares of CECO Environmental by 224.7% in the second quarter. Farther Finance Advisors LLC now owns 1,445 shares of the company's stock worth $41,000 after acquiring an additional 1,000 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of CECO Environmental in the fourth quarter worth $56,000. Heck Capital Advisors LLC acquired a new position in shares of CECO Environmental in the fourth quarter worth $74,000. Raymond James Financial Inc. acquired a new position in shares of CECO Environmental in the second quarter worth $102,000. Finally, Canada Pension Plan Investment Board boosted its holdings in CECO Environmental by 6,200.0% in the second quarter. Canada Pension Plan Investment Board now owns 6,300 shares of the company's stock worth $178,000 after purchasing an additional 6,200 shares in the last quarter. 68.08% of the stock is owned by institutional investors and hedge funds.

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.