Dimensional Fund Advisors LP recently announced the acquisition of new stake in CECO Environmental Corp. (NASDAQ:CECO). The institutional investor has increased its shareholding in the Industrials company by 3.25% to 2.3 million shares with purchase of 72422.0 shares. This fresh investment now brings its stake to 6.71% valued currently at $27.88 million. In addition, Wells Fargo Clearing Services LLC raised its holdings by 4517.0 to 0.6 million shares.
With over 1.52 million CECO Environmental Corp. (CECO) shares trading Tuesday and a closing price of $13.75 on the day, the dollar volume was approximately $20.84 million. The shares have shown a positive half year performance of 127.27% and its price on 01/10/23 gained nearly 13.36%. Currently, there are 34.46M common shares owned by the public and among those 28.70M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for CECO have a consensus price objective of $15.00. The analysts have set the share’s price value over the next 12 months at a high of $17.00 and a low of $13.00. The average price target is 8.33% above its recent price level and a downside to the estimated low will see the stock lose -5.77% over that period. But an upside of 19.12% will see the stock hit the forecast high price target while median target price for the stock is $15.00.
Insiders at the company have transacted a total of 31 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 338,463 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 1,776 shares.
The top 3 mutual fund holders in CECO Environmental Corp. are American Century Small Cap Value, Vanguard Total Stock Market Index, and Heartland Group Inc. – Value Fund. American Century Small Cap Value owns 1.35 million shares of the company’s stock, all valued at over $16.36 million. The company sold -0.41 million shares recently to bring their total holdings to about 3.94% of the shares outstanding. Heartland Group Inc. – Value Fund now owns shares totaling to 2.33% of the shares outstanding.
Shares of CECO Environmental Corp. (NASDAQ: CECO) opened at $12.51, up $0.38 from a prior closing price of $12.13. However, the script later moved the day high at 13.84, up 13.36%. The company’s stock has a 5-day price change of 21.25% and 41.03% over the past three months. CECO shares are trading 17.72% year to date (YTD), with the 12-month market performance up to 121.42% higher. It has a 12-month low price of $4.09 and touched a high of $12.89 over the same period. CECO has an average intraday trading volume of 225.56K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 15.72%, 16.57%, and 61.94% respectively.
Institutional ownership of CECO Environmental Corp. (NASDAQ: CECO) shares accounts for 67.30% of the company’s 34.46M shares outstanding. Mutual fund holders own 30.36%, while other institutional holders and individual stakeholders account for 42.87% and 24.32% respectively.
It has a market capitalization of $458.01M and a beta (3y monthly) value of 1.32. The stock’s trailing 12-month PE ratio is 46.77, while the earnings-per-share (ttm) stands at $0.29. The company has a PEG of 3.12 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 0.55. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.13% over the week and 5.00% over the month.
Earnings per share for the fiscal year are expected to decrease by -82.70%, and 13.45% over the next financial year. EPS should shrink at an annualized rate of 15.00% over the next five years, compared to 15.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate CECO Environmental Corp. (CECO) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”