Perma-Pipe International (NASDAQ:PPIH) Releases Quarterly Earnings Results, Misses Estimates By $0.26 EPS

Perma-Pipe International (NASDAQ:PPIH) released its quarterly earnings results on Tuesday. The industrial products company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.26), FiscalAI reports. Perma-Pipe International had a return on equity of 16.23% and a net margin of 6.47%.The business had revenue of $50.27 million during the quarter, compared to analyst estimates of $54.00 million.

Perma-Pipe International Stock Up 1.5%

Shares of Perma-Pipe International stock opened at $25.65 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05. The business’s 50 day simple moving average is $31.73 and its 200-day simple moving average is $30.87. The stock has a market capitalization of $208.28 million, a price-to-earnings ratio of 15.18 and a beta of 0.54. Perma-Pipe International has a twelve month low of $14.26 and a twelve month high of $36.72.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Perma-Pipe International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Wyoming grew its holdings in Perma-Pipe International by 59.7% in the 4th quarter. State of Wyoming now owns 2,102 shares of the industrial products company’s stock worth $64,000 after buying an additional 786 shares in the last quarter. Bank of America Corp DE grew its holdings in Perma-Pipe International by 1,730.8% in the 2nd quarter. Bank of America Corp DE now owns 1,190 shares of the industrial products company’s stock worth $27,000 after buying an additional 1,125 shares in the last quarter. Empowered Funds LLC grew its holdings in Perma-Pipe International by 8.8% in the 1st quarter. Empowered Funds LLC now owns 20,101 shares of the industrial products company’s stock worth $250,000 after buying an additional 1,626 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Perma-Pipe International by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 478,988 shares of the industrial products company’s stock worth $11,222,000 after buying an additional 2,463 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in Perma-Pipe International by 4.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 64,769 shares of the industrial products company’s stock worth $1,966,000 after buying an additional 2,682 shares in the last quarter. 28.43% of the stock is owned by institutional investors.

Perma-Pipe International Company Profile

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.