CECO Environmental (NASDAQ:CECO) Stock Price Down 4.2% – Should You Sell?

Shares of CECO Environmental Corp. (NASDAQ:CECO) traded down 4.2% during trading on Tuesday . The stock traded as low as $23.65 and last traded at $24.09. 30,455 shares changed hands during trading, a decline of 89% from the average session volume of 278,218 shares. The stock had previously closed at $25.14.

Analyst Ratings Changes

A number of analysts have recently weighed in on CECO shares. HC Wainwright restated a “neutral” rating on shares of CECO Environmental in a research note on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and set a $33.00 price target on shares of CECO Environmental in a report on Wednesday, February 26th. Craig Hallum lifted their price objective on CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Northland Securities increased 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. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, CECO Environmental currently has an average rating of “Moderate Buy” and an average target price of $36.20.

CECO Environmental Stock Down 4.2 %

The firm’s 50-day simple moving average is $26.25 and its 200-day simple moving average is $27.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The company has a market capitalization of $842.98 million, a price-to-earnings ratio of 73.46, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43.

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

Insider Buying and Selling at CECO Environmental

In related news, Director Richard F. Wallman acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were purchased at an average price of $25.15 per share, with a total value of $25,150.00. Following the acquisition, the director now directly owns 207,117 shares in the company, valued at $5,208,992.55. The trade was a 0.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 16.90% of the company’s stock.

Institutional Trading of CECO Environmental

Institutional investors have recently bought and sold shares of the business. Quest Partners LLC acquired a new stake in shares of CECO Environmental during the third quarter worth $69,000. First Horizon Advisors Inc. increased its stake 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of CECO Environmental by 185.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company’s stock valued at $6,641,000 after acquiring an additional 152,893 shares during the period. FMR LLC raised its position in shares of CECO Environmental by 23.5% in the 3rd quarter. FMR LLC now owns 786,308 shares of the company’s stock valued at $22,174,000 after acquiring an additional 149,777 shares during the period. Finally, Cynosure Group LLC acquired a new position in CECO Environmental during the third quarter valued at approximately $370,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

CECO Environmental Company Profile

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.