CECO Environmental Corp. (NASDAQ:CECO) Short Interest Up 8.6% in September

CECO Environmental Corp. (NASDAQ:CECO) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,650,000 shares, an increase of 8.6% from the August 31st total of 1,520,000 shares. Approximately 5.6% of the shares of the stock are short sold. Based on an average daily volume of 289,500 shares, the days-to-cover ratio is presently 5.7 days.

Insider Transactions at CECO Environmental

In other news, Director Richard F. Wallman bought 10,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was bought at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the completion of the purchase, the director now owns 62,000 shares of the company’s stock, valued at approximately $1,783,740. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 16.90% of the stock is owned by insiders.

Institutional Investors Weigh In On CECO Environmental

A number of hedge funds and other institutional investors have recently modified their holdings of CECO. CWM LLC increased its position in CECO Environmental by 45.3% during the second quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after acquiring an additional 708 shares during the period. Kessler Investment Group LLC increased its holdings in shares of CECO Environmental by 27.8% during the second quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock worth $207,000 after purchasing an additional 1,560 shares during the period. Principal Financial Group Inc. raised its position in shares of CECO Environmental by 14.8% in the second quarter. Principal Financial Group Inc. now owns 18,916 shares of the company’s stock valued at $546,000 after buying an additional 2,439 shares in the last quarter. Essex Investment Management Co. LLC boosted its stake in shares of CECO Environmental by 1.6% in the first quarter. Essex Investment Management Co. LLC now owns 205,982 shares of the company’s stock valued at $4,742,000 after buying an additional 3,147 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in shares of CECO Environmental in the first quarter valued at approximately $72,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Northland Securities upped their target price on shares of CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Needham & Company LLC boosted their target price on CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Roth Mkm raised their price objective on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. HC Wainwright upped their target price on shares of CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Craig Hallum lifted their price objective on shares of CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Five analysts have rated the stock with a buy rating, According to MarketBeat, CECO Environmental has an average rating of “Buy” and a consensus price target of $34.80.

CECO Environmental Stock Down 2.4 %

Shares of NASDAQ:CECO traded down $0.67 during trading on Tuesday, hitting $27.53. 30,617 shares of the company were exchanged, compared to its average volume of 266,545. The stock has a market cap of $961.79 million, a price-to-earnings ratio of 80.57, a P/E/G ratio of 1.99 and a beta of 1.33. The company has a current ratio of 1.36, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average price of $27.93 and a two-hundred day moving average price of $25.93. CECO Environmental has a fifty-two week low of $15.27 and a fifty-two week high of $31.55.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. The business had revenue of $137.50 million for the quarter, compared to analysts’ expectations of $143.33 million. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 EPS. As a group, research analysts anticipate that CECO Environmental will post 0.93 earnings per share for the current fiscal year.

CECO Environmental Company Profile

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.