CECO Environmental (NASDAQ:CECO) Reaches New 52-Week Low – Time to Sell?

CECO Environmental Corp. (NASDAQ:CECO)’s stock price reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $43.83 and last traded at $43.7460, with a volume of 618,026 shares changing hands. The stock had previously closed at $50.21.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Zacks Research upgraded CECO Environmental from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 13th. Weiss Ratings cut shares of CECO Environmental from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, September 16th. TD Cowen assumed coverage on shares of CECO Environmental in a research report on Wednesday, August 5th. They set a “buy” rating and a $85.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 price target on shares of CECO Environmental in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. dropped their target price on shares of CECO Environmental from $130.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, CECO Environmental has a consensus rating of “Moderate Buy” and a consensus target price of $102.38.

CECO Environmental Stock Performance

The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -66.52 and a beta of 1.62. The company’s fifty day simple moving average is $66.47 and its 200 day simple moving average is $71.64. The company has a quick ratio of 1.18, a current ratio of 1.50 and a debt-to-equity ratio of 0.34.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Monday, August 10th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.26 by $0.21. CECO Environmental had a negative net margin of 3.39% and a positive return on equity of 7.36%. The business had revenue of $284.96 million during the quarter, compared to the consensus estimate of $282.21 million. During the same quarter in the previous year, the firm posted $0.26 EPS. CECO Environmental’s revenue was up 53.7% compared to the same quarter last year. On average, equities research analysts expect that CECO Environmental Corp. will post 2.43 earnings per share for the current year.

Institutional Trading of CECO Environmental

Several institutional investors have recently added to or reduced their stakes in CECO. BlackRock Inc. bought a new position in CECO Environmental during the 2nd quarter worth $392,358,000. Jupiter Topco LLC bought a new stake in shares of CECO Environmental in the second quarter valued at about $86,194,000. Dimensional Fund Advisors LP grew its stake in shares of CECO Environmental by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 903,291 shares of the company’s stock valued at $53,813,000 after acquiring an additional 7,751 shares in the last quarter. Legal & General Group Plc bought a new position in CECO Environmental during the second quarter worth about $40,461,000. Finally, Emerald Advisers LLC increased its position in CECO Environmental by 14.1% during the first quarter. Emerald Advisers LLC now owns 523,017 shares of the company’s stock worth $31,161,000 after acquiring an additional 64,492 shares during the period. 68.08% of the stock is currently owned by institutional investors.

CECO Environmental Company Profile

CECO Environmental Corp. (NASDAQ:CECO) is an industrial technology company that designs and supplies environmental and engineered equipment for industrial processes. Its solutions help customers control air pollution, manage industrial emissions, improve process efficiency and handle fluids in demanding operating environments.

The company’s product and service offerings include air pollution control systems, industrial ventilation and filtration equipment, scrubbers, fans, dust collection systems, thermal and heat-transfer equipment, pumps and other fluid-handling technologies.