Insider Buying: CECO Environmental Corp. (NASDAQ:CECO) Director Buys $25,150.00 in Stock

CECO Environmental Corp. (NASDAQ:CECO) Director Richard F. Wallman acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were acquired at an average cost of $25.15 per share, for a total transaction of $25,150.00. Following the purchase, the director now directly owns 207,117 shares in the company, valued at $5,208,992.55. This trade represents a 0.49 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CECO Environmental Stock Performance

CECO opened at $24.88 on Friday. The company has a market capitalization of $870.28 million, a price-to-earnings ratio of 75.40, a P/E/G ratio of 1.39 and a beta of 1.41. The business’s 50-day moving average price is $28.42 and its two-hundred day moving average price is $28.23. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. CECO Environmental Corp. has a 1 year low of $18.50 and a 1 year high of $35.16.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.05. The company had revenue of $158.60 million during the quarter, compared to analysts’ expectations of $156.09 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. CECO Environmental’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 EPS. Equities analysts expect that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On CECO Environmental

Several hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. grew its holdings in shares of CECO Environmental by 71.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after acquiring an additional 591 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 acquiring an additional 591 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of CECO Environmental by 5.8% in the 3rd quarter. Private Advisor Group LLC now owns 16,065 shares of the company’s stock valued at $453,000 after acquiring an additional 885 shares in the last quarter. Rhumbline Advisers grew its holdings in CECO Environmental by 2.7% during the fourth quarter. Rhumbline Advisers now owns 40,614 shares of the company’s stock worth $1,228,000 after purchasing an additional 1,080 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in CECO Environmental by 127.0% during the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock worth $90,000 after purchasing an additional 1,658 shares during the period. Institutional investors own 68.08% of the company’s stock.

Analysts Set New Price Targets

CECO has been the topic of several research analyst reports. Northland Securities raised their price objective on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Craig Hallum lifted their price target on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and issued a $33.00 price target on shares of CECO Environmental in a research note on Wednesday. Finally, HC Wainwright reissued a “neutral” rating on shares of CECO Environmental in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.20.

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.