CECO Environmental (NASDAQ:CECO) Shares Down 4.6% – Here’s What Happened

by · The Markets Daily

CECO Environmental Corp. (NASDAQ:CECO – Get Free Report) shares dropped 4.6% during trading on Monday . The stock traded as low as $28.64 and last traded at $28.23. Approximately 24,132 shares were traded during trading, a decline of 91% from the average daily volume of 276,481 shares. The stock had previously closed at $29.60.

Wall Street Analysts Forecast Growth

CECO has been the topic of several recent research reports. HC Wainwright raised shares of CECO Environmental from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Wednesday, April 30th. Needham & Company LLC upped their price target on CECO Environmental from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $36.00.

View Our Latest Research Report on CECO Environmental

CECO Environmental Trading Down 2.1%

The company has a quick ratio of 1.52, a current ratio of 1.71 and a debt-to-equity ratio of 1.17. The company’s 50-day moving average is $26.17 and its 200-day moving average is $26.14. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 2.04 and a beta of 1.35.

CECO Environmental (NASDAQ:CECO – Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. CECO Environmental had a return on equity of 10.10% and a net margin of 7.80%. The firm had revenue of $176.70 million for the quarter, compared to analysts’ expectations of $151.53 million. CECO Environmental’s quarterly revenue was up 39.9% compared to the same quarter last year. Research analysts anticipate that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CECO Environmental

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers lifted its stake in CECO Environmental by 2.7% during the 4th quarter. Rhumbline Advisers now owns 40,614 shares of the company’s stock worth $1,228,000 after acquiring an additional 1,080 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of CECO Environmental by 10.1% in the 4th quarter. Principal Financial Group Inc. now owns 24,493 shares of the company’s stock valued at $740,000 after purchasing an additional 2,247 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in CECO Environmental by 127.0% during the 4th quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock worth $90,000 after buying an additional 1,658 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in CECO Environmental by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,464 shares of the company’s stock valued at $7,179,000 after purchasing an additional 1,967 shares in the last quarter. Finally, Bard Associates Inc. acquired a new position in shares of CECO Environmental in the 4th quarter valued at $251,000. 68.08% of the stock is owned by hedge funds and other institutional investors.

CECO Environmental Company Profile

(Get Free Report)

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.

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