CECO Environmental Corp. (CECO) Clearly Signals Buy-Into the Stock: Don’t ignore the signals

CECO Environmental Corp. (NASDAQ: CECO) stock jumped 2.53% on Wednesday to $11.73 against a previous-day closing price of $11.44. With 0.13 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.29 million shares. During the session, the Pollution & Treatment Controls company that operates in wider Industrials sector, reached to the highest price of $11.77 whereas the lowest price it dropped to was $11.32. The 52-week range on CECO shows that it touched its highest point at $12.54 and its lowest point at $4.09 during that stretch. It currently has a 1-year price target of $15.00. Beta for the stock currently stands at 1.28.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CECO was up-trending over the past week, with a rise of 2.99%, but this was down by -0.09% over a month. Three-month performance surged to 12.25% while six-month performance rose 91.04%. The stock gained 78.54% in the past year, while it has gained 88.28% so far this year. A look at the trailing 12-month EPS for CECO yields 0.29 with Next year EPS estimates of 0.78. For the next quarter, that number is 0.16. This implies an EPS growth rate of -82.70% for this year and 13.45% for next year. EPS is expected to grow by 15.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 15.30%.

Float and Shares Shorts:

At present, 34.46 million CECO shares are outstanding with a float of 28.70 million shares on hand for trading.

Institutional Ownership:

Other institutions hold 43.48% of CECO, in contrast to 30.19% held by mutual funds. Shares owned by individuals account for 23.43%. As the largest shareholder in CECO with 9.52% of the stake, Trigran Investments, Inc. holds 3,285,755 shares worth 3,285,755. A second-largest stockholder of CECO, Dimensional Fund Advisors LP, holds 2,299,971 shares, controlling over 6.67% of the firm’s shares. Luther King Capital Management Co is the third largest shareholder in CECO, holding 1,785,524 shares or 5.18% stake. With a 3.91% stake in CECO, the American Century Small Cap Value is the largest stakeholder. A total of 1,350,191 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.44% of CECO stock, is the second-largest Mutual Fund holder. It holds 843,032 shares valued at 9.96 million. Heartland Group Inc. – Value Fund holds 2.32% of the stake in CECO, owning 800,000 shares worth 9.46 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CECO since 5 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CECO analysts setting a high price target of $17.00 and a low target of $13.00, the average target price over the next 12 months is $15.00. Based on these targets, CECO could surge 44.93% to reach the target high and rise by 10.83% to reach the target low. Reaching the average price target will result in a growth of 27.88% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CECO will report FY 2022 earnings on 03/09/2023. Analysts have provided yearly estimates in a range of $0.75 being high and $0.65 being low. For CECO, this leads to a yearly average estimate of $0.68. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. CECO Environmental Corp. surprised analysts by $0.09 when it reported $0.20 EPS against a consensus estimate of $0.11. The surprise factor in the prior quarter was $0.09. Based on analyst estimates, the high estimate for the next quarter is $0.22 and the low estimate is $0.12. The average estimate for the next quarter is thus $0.16.

Dividends & Yield:

In terms of dividends, CECO has a dividend of $0.24 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and CECO currently yields $1.04. In the past year, CECO’s dividend yield has been $1.04, but when looking at the stock over the past five years, its yield has been $2.86. Accordingly, CECO has a current buyback yield of $2.06. This was $2.06 for the TTM.

Summary of Insider Activity:

Insiders traded CECO stock several times over the past three months with 3 Buys and 0 Sells. In these transactions, 15,300 shares were bought while 0 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 383,213 while 1,776 shares were sold.

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