CECO Environmental (NASDAQ:CECO) Reaches New 52-Week High – Should You Buy?

CECO Environmental Corp. (NASDAQ:CECO) hit a new 52-week high during trading on Thursday . The company traded as high as $56.20 and last traded at $56.10, with a volume of 110010 shares changing hands. The stock had previously closed at $54.50.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CECO shares. Needham & Company LLC boosted their target price on shares of CECO Environmental from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Northland Securities set a $60.00 target price on shares of CECO Environmental in a research report on Monday, October 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of CECO Environmental in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of CECO Environmental from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.60.

CECO Environmental Stock Up 3.4%

The company has a market cap of $2.01 billion, a price-to-earnings ratio of 40.08 and a beta of 1.37. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.13 and a current ratio of 1.33. The business has a 50-day simple moving average of $50.98 and a 200-day simple moving average of $41.96.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. CECO Environmental had a return on equity of 10.84% and a net margin of 7.22%.The business had revenue of $197.60 million for the quarter, compared to the consensus estimate of $190.36 million. During the same quarter in the prior year, the business posted $0.14 EPS. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. On average, equities analysts anticipate that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CECO Environmental news, Director Richard F. Wallman bought 3,000 shares of CECO Environmental stock in a transaction dated Friday, September 5th. The stock was acquired at an average cost of $46.93 per share, with a total value of $140,790.00. Following the completion of the acquisition, the director owned 80,500 shares of the company’s stock, valued at approximately $3,777,865. This represents a 3.87% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd R. Gleason sold 101,899 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $49.32, for a total value of $5,025,658.68. Following the sale, the chief executive officer owned 410,835 shares of the company’s stock, valued at $20,262,382.20. This trade represents a 19.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 300,000 shares of company stock worth $15,104,854. 16.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CECO. American Century Companies Inc. raised its position 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 purchasing an additional 1,250,373 shares during the last quarter. Granahan Investment Management LLC purchased a new position in shares of CECO Environmental during the 1st quarter worth about $7,237,000. Two Sigma Investments LP boosted its holdings in shares of CECO Environmental by 3,620.8% in the 3rd quarter. Two Sigma Investments LP now owns 302,691 shares of the company’s stock valued at $15,498,000 after purchasing an additional 294,556 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in CECO Environmental during the second quarter valued at about $7,394,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of CECO Environmental during the 2nd quarter worth about $7,175,000. 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.