Peregrine Capital Management LLC Acquires Shares of 207,659 CECO Environmental Corp. (NASDAQ:CECO)

Peregrine Capital Management LLC bought a new position in CECO Environmental Corp. (NASDAQ:CECO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 207,659 shares of the company’s stock, valued at approximately $6,278,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. lifted its position in CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after purchasing an additional 591 shares during the period. Quest Partners LLC purchased a new stake in shares of CECO Environmental in the third quarter valued at approximately $69,000. Heck Capital Advisors LLC acquired a new position in CECO Environmental during the fourth quarter worth $74,000. Morse Asset Management Inc purchased a new position in CECO Environmental in the third quarter worth $76,000. Finally, Eastern Bank acquired a new stake in CECO Environmental in the third quarter valued at $113,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Northland Securities upped their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Craig Hallum increased their target price on shares of CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 6th. HC Wainwright lowered CECO Environmental from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Needham & Company LLC dropped their price objective on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

CECO Environmental Stock Up 2.1 %

CECO stock opened at $24.78 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The company’s 50 day simple moving average is $29.55 and its 200-day simple moving average is $28.41. CECO Environmental Corp. has a 12 month low of $18.50 and a 12 month high of $35.16. The firm has a market capitalization of $866.78 million, a PE ratio of 75.09, a P/E/G ratio of 1.64 and a beta of 1.41.

About CECO Environmental

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.