Key Points
- Director buying: CECO Environmental Director Richard Wallman bought 20,000 shares at $76.85 each, a purchase worth about $1.54 million. His stake rose by 23.39% to 105,500 shares.
- Strong quarterly results: The company reported $0.36 EPS on revenue of $205.92 million, both above analyst expectations. Revenue increased 16.5% from a year earlier, and earnings beat estimates by $0.24 per share.
- Wall Street remains bullish: Analysts currently have a consensus Buy rating on CECO, with an average price target of $86.83. Recent notes included several Buy/Strong Buy ratings, though one firm downgraded the stock to Hold.
CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) Director Richard Wallman bought 20,000 shares of the stock in a transaction dated Monday, June 1st. The shares were purchased at an average cost of $76.85 per share, for a total transaction of $1,537,000.00. Following the completion of the purchase, the director owned 105,500 shares in the company, valued at approximately $8,107,675. This represents a 23.39% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
CECO Environmental Trading Up 1.3%
Shares of CECO Environmental stock opened at $79.47 on Thursday. The firm has a market capitalization of $2.85 billion, a PE ratio of 214.78 and a beta of 1.49. CECO Environmental Corp. has a twelve month low of $25.96 and a twelve month high of $92.00. The firm's 50-day moving average price is $71.93 and its 200 day moving average price is $65.26. The company has a current ratio of 1.33, a quick ratio of 1.18 and a debt-to-equity ratio of 0.78.
CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.24. The firm had revenue of $205.92 million for the quarter, compared to analyst estimates of $198.88 million. CECO Environmental had a net margin of 1.70% and a return on equity of 13.69%. CECO Environmental's quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company posted $0.10 EPS. On average, sell-side analysts predict that CECO Environmental Corp. will post 1.77 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Zacks Research raised shares of CECO Environmental from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Roth Mkm reaffirmed a "buy" rating and issued a $85.00 price target on shares of CECO Environmental in a research note on Wednesday, April 29th. Craig Hallum reaffirmed a "buy" rating and issued a $103.00 price target on shares of CECO Environmental in a research note on Tuesday, April 28th. Lake Street Capital reaffirmed a "buy" rating and issued a $80.00 price target on shares of CECO Environmental in a research note on Wednesday, February 25th. Finally, Weiss Ratings lowered shares of CECO Environmental from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $86.83.
Get Our Latest Stock Report on CECO Environmental
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in CECO Environmental by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,780,596 shares of the company's stock worth $106,569,000 after purchasing an additional 9,840 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of CECO Environmental by 16,844.6% during the 3rd quarter. American Century Companies Inc. now owns 1,257,796 shares of the company's stock worth $64,399,000 after buying an additional 1,250,373 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of CECO Environmental by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 903,291 shares of the company's stock valued at $53,813,000 after buying an additional 7,751 shares during the period. Geode Capital Management LLC raised its position in shares of CECO Environmental by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 729,700 shares of the company's stock valued at $43,680,000 after buying an additional 8,734 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of CECO Environmental by 104.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 718,992 shares of the company's stock valued at $43,032,000 after buying an additional 366,611 shares during the period. 68.08% of the stock is owned by hedge funds and other institutional investors.
CECO Environmental Company Profile
(
Get Free Report)
CECO Environmental Corp. (NASDAQ: CECO) is a global technology provider specializing in engineered solutions that help industrial and commercial customers manage air emissions, process fluids and optimize energy use. The company develops custom-engineered systems and modular packages designed to meet evolving environmental regulations and improve operational efficiency across diverse production processes.
CECO's core offerings include air pollution control equipment—such as scrubbers, cyclones, fabric and cartridge filters—and industrial process filtration systems for applications ranging from particulate removal to oil-water separation.
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