CECO Environmental (NASDAQ:CECO) Shares Down 8.8% – Here’s What Happened

CECO Environmental Corp. (NASDAQ:CECO) shares fell 8.8% during mid-day trading on Thursday . The stock traded as low as $79.80 and last traded at $79.31. 141,255 shares were traded during mid-day trading, a decline of 76% from the average session volume of 592,001 shares. The stock had previously closed at $86.95.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Needham & Company LLC upped their target price on shares of CECO Environmental from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings cut shares of CECO Environmental from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. HC Wainwright upped their target price on shares of CECO Environmental from $55.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Roth Mkm reaffirmed a “buy” rating and issued a $85.00 target price on shares of CECO Environmental in a research report on Wednesday, April 29th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $80.00 target price on shares of CECO Environmental in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, CECO Environmental presently has a consensus rating of “Buy” and an average price target of $86.83.

CECO Environmental Stock Performance

The firm has a 50-day moving average price of $69.76 and a 200 day moving average price of $64.33. The firm has a market capitalization of $2.82 billion, a PE ratio of 212.48 and a beta of 1.53. The company has a quick ratio of 1.18, a current ratio of 1.33 and a debt-to-equity ratio of 0.78.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.24. The business had revenue of $205.92 million for the quarter, compared to analysts’ expectations of $198.88 million. CECO Environmental had a net margin of 1.70% and a return on equity of 13.69%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. Research analysts expect that CECO Environmental Corp. will post 1.77 earnings per share for the current year.

Institutional Trading of CECO Environmental

Hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of CECO Environmental during the third quarter worth about $25,000. Morton Brown Family Wealth LLC acquired a new stake in shares of CECO Environmental during the first quarter worth about $29,000. Aventura Private Wealth LLC acquired a new stake in CECO Environmental in the fourth quarter valued at approximately $30,000. Advisory Services Network LLC acquired a new stake in CECO Environmental in the third quarter valued at approximately $31,000. Finally, KBC Group NV acquired a new stake in CECO Environmental in the first quarter valued at approximately $44,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

About CECO Environmental

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.