CECO Environmental (NASDAQ:CECO) Reaches New 1-Year Low After Insider Selling

CECO Environmental Corp. (NASDAQ:CECO) reached a new 52-week low during mid-day trading on Thursday following insider selling activity. The stock traded as low as $19.84 and last traded at $20.02, with a volume of 51285 shares changing hands. The stock had previously closed at $21.35.

Specifically, insider Peter K. Johansson sold 22,500 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $22.80, for a total transaction of $513,000.00. Following the completion of the transaction, the insider now directly owns 62,160 shares in the company, valued at approximately $1,417,248. The trade was a 26.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Peter K. Johansson sold 5,601 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $24.15, for a total value of $135,264.15. Following the transaction, the insider now directly owns 84,660 shares in the company, valued at $2,044,539. This trade represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of research firms have commented on CECO. Craig Hallum boosted their price target on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and issued a $33.00 price objective on shares of CECO Environmental in a research note on Wednesday, February 26th. Northland Securities raised their target price on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Finally, HC Wainwright reiterated a “neutral” rating on shares of CECO Environmental in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.20.

CECO Environmental Price Performance

The stock has a 50-day moving average of $25.23 and a two-hundred day moving average of $27.65. The firm has a market cap of $691.75 million, a price-to-earnings ratio of 59.91, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. The business had revenue of $158.60 million for the quarter, compared to the consensus estimate of $156.09 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share. On average, analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current year.

Institutional Trading of CECO Environmental

Hedge funds have recently modified their holdings of the business. Heck Capital Advisors LLC acquired a new stake in CECO Environmental during the 4th quarter worth about $74,000. Mackenzie Financial Corp purchased a new stake in shares of CECO Environmental in the fourth quarter worth approximately $56,000. Gordian Capital Singapore Pte Ltd boosted its holdings in shares of CECO Environmental by 86.2% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 66,098 shares of the company’s stock worth $1,998,000 after purchasing an additional 30,598 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in CECO Environmental by 18.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 88,137 shares of the company’s stock valued at $2,664,000 after buying an additional 13,930 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in CECO Environmental in the 4th quarter worth approximately $949,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

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.