CECO Environmental (NASDAQ:CECO) Stock Price Down 9.7% – Here’s Why

CECO Environmental Corp. (NASDAQ:CECO)’s share price dropped 9.7% during trading on Wednesday . The stock traded as low as $60.91 and last traded at $60.9610. 878,156 shares were traded during trading, an increase of 25% from the average daily volume of 703,502 shares. The stock had previously closed at $67.48.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Needham & Company LLC raised their price target on CECO Environmental from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Weiss Ratings lowered CECO Environmental from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Roth Capital restated a “buy” rating and set a $85.00 target price on shares of CECO Environmental in a report on Wednesday, April 29th. JPMorgan Chase & Co. initiated coverage on CECO Environmental in a research report on Thursday, July 9th. They set an “overweight” rating and a $130.00 target price for the company. Finally, Lake Street Capital upped their price target on CECO Environmental from $80.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $106.71.

CECO Environmental Trading Down 8.1%

The company has a debt-to-equity ratio of 0.78, a current ratio of 1.33 and a quick ratio of 1.18. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 167.56 and a beta of 1.47. The business has a 50 day simple moving average of $85.17 and a 200-day simple moving average of $73.42.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. CECO Environmental had a return on equity of 13.69% and a net margin of 1.70%.The company had revenue of $205.92 million for the quarter, compared to analyst estimates of $198.88 million. During the same quarter last year, the firm posted $0.10 earnings per share. CECO Environmental’s revenue was up 16.5% compared to the same quarter last year. As a group, equities analysts expect that CECO Environmental Corp. will post 1.97 earnings per share for the current year.

Insider Buying and Selling

In other CECO Environmental news, CFO Peter K. Johansson sold 30,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $96.49, for a total value of $2,894,700.00. Following the transaction, the chief financial officer owned 40,746 shares of the company’s stock, valued at approximately $3,931,581.54. The trade was a 42.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard F. Wallman purchased 20,000 shares of CECO Environmental stock in a transaction dated Monday, June 1st. The stock was bought at an average price of $76.85 per share, with a total value of $1,537,000.00. Following the acquisition, the director directly owned 105,500 shares of the company’s stock, valued at approximately $8,107,675. This trade represents a 23.39% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 16.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On CECO Environmental

A number of hedge funds and other institutional investors have recently made changes to their positions in CECO. Vanguard Group Inc. lifted its position in CECO Environmental by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,780,596 shares of the company’s stock valued at $106,569,000 after acquiring an additional 9,840 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in CECO Environmental by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 903,291 shares of the company’s stock worth $53,813,000 after purchasing an additional 7,751 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of CECO Environmental by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 729,700 shares of the company’s stock valued at $43,680,000 after purchasing an additional 8,734 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of CECO Environmental by 104.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 718,992 shares of the company’s stock valued at $43,032,000 after purchasing an additional 366,611 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of CECO Environmental by 3.0% in the fourth quarter. William Blair Investment Management LLC now owns 706,273 shares of the company’s stock valued at $42,270,000 after purchasing an additional 20,531 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors and hedge funds.

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.