Perma-Pipe International (NASDAQ:PPIH) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $30.54 and traded as high as $32.25. Perma-Pipe International shares last traded at $31.88, with a volume of 70,511 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PPIH shares. Wall Street Zen lowered shares of Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a research report on Saturday, April 18th. Weiss Ratings lowered shares of Perma-Pipe International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.00.

Perma-Pipe International Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.84 and a quick ratio of 1.61. The firm has a market capitalization of $258.87 million, a price-to-earnings ratio of 15.33 and a beta of 0.58. The business’s fifty day simple moving average is $31.56 and its 200 day simple moving average is $30.54.

Perma-Pipe International (NASDAQ:PPIH) last issued its quarterly earnings data on Thursday, April 16th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. The firm had revenue of $55.13 million during the quarter, compared to analysts’ expectations of $55.00 million. Perma-Pipe International had a net margin of 8.08% and a return on equity of 20.37%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PPIH. Empowered Funds LLC grew its holdings in shares of Perma-Pipe International by 8.8% during the first quarter. Empowered Funds LLC now owns 20,101 shares of the industrial products company’s stock valued at $250,000 after buying an additional 1,626 shares during the last quarter. Jane Street Group LLC boosted its holdings in Perma-Pipe International by 55.2% during the first quarter. Jane Street Group LLC now owns 18,505 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 6,583 shares during the last quarter. Gamco Investors INC. ET AL purchased a new position in Perma-Pipe International during the second quarter worth about $283,000. Bank of America Corp DE boosted its holdings in Perma-Pipe International by 1,730.8% during the second quarter. Bank of America Corp DE now owns 1,190 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 1,125 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in Perma-Pipe International by 4.4% during the second quarter. Bridgeway Capital Management LLC now owns 64,422 shares of the industrial products company’s stock worth $1,473,000 after purchasing an additional 2,711 shares during the last quarter. 28.43% of the stock is currently owned by institutional investors and hedge funds.

About Perma-Pipe International

Perma-Pipe International Holdings Ltd. is a publicly traded company on the NASDAQ under the symbol PPIH that specializes in the design, manufacture and installation of prefabricated piping systems. Its core business revolves around factory-assembled thermal insulation and corrosion protection solutions, including pre-insulated pipe, heat tracing, field-applied jackets and specialty spool pieces. These engineered systems are custom-built to industry specifications and are used to maintain temperatures, control heat loss and extend the life of critical piping infrastructure.

The company’s products and services serve a diverse range of end markets, with primary focus on oil and gas production, petrochemical processing, power generation, district energy, and industrial facilities.