CECO Environmental Corp. (NASDAQ:CECO) Insider Peter K. Johansson Sells 22,500 Shares

CECO Environmental Corp. (NASDAQ:CECO) insider Peter K. Johansson sold 22,500 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 62,160 shares of the company’s stock, valued at approximately $1,417,248. This represents a 26.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

CECO Environmental Trading Down 7.5 %

Shares of CECO stock traded down $1.73 during trading hours on Wednesday, reaching $21.36. The company had a trading volume of 358,870 shares, compared to its average volume of 283,908. CECO Environmental Corp. has a 1-year low of $20.00 and a 1-year high of $35.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The firm has a market cap of $747.39 million, a price-to-earnings ratio of 64.73, a P/E/G ratio of 1.39 and a beta of 1.43. The company has a 50 day moving average of $25.40 and a 200 day moving average of $27.69.

CECO Environmental (NASDAQ:CECO) last released its earnings results 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 firm had revenue of $158.60 million for the quarter, compared to analyst estimates of $156.09 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. On average, equities research analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current year.

Wall Street Analysts Forecast Growth

CECO has been the subject of a number of research analyst reports. HC Wainwright reiterated a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. Craig Hallum raised their target price on 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 target on shares of CECO Environmental in a research report on Wednesday, February 26th. Finally, Northland Securities lifted their price objective on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, December 20th. One research 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 has an average rating of “Moderate Buy” and an average price target of $36.20.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp acquired a new stake in CECO Environmental in the fourth quarter worth $56,000. Heck Capital Advisors LLC acquired a new stake in CECO Environmental during the 4th quarter worth $74,000. Morse Asset Management Inc bought a new position in CECO Environmental during the third quarter worth about $76,000. Jones Financial Companies Lllp grew its stake in CECO Environmental by 127.0% in the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock valued at $90,000 after acquiring an additional 1,658 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of CECO Environmental in the fourth quarter worth about $218,000. Institutional investors and hedge funds 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.