Perma-Pipe International (NASDAQ:PPIH) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $29.57 and traded as high as $29.80. Perma-Pipe International shares last traded at $29.70, with a volume of 38,624 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Perma-Pipe International in a research report on Friday, August 14th. Freedom Broker increased their price target on Perma-Pipe International from $29.55 to $38.00 and gave the company a “buy” rating in a research report on Friday, September 11th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Perma-Pipe International presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Perma-Pipe International Trading Up 1.1%

The business has a 50 day moving average of $29.54 and a two-hundred day moving average of $29.54. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 0.32. The firm has a market cap of $245.60 million, a P/E ratio of 15.77 and a beta of 0.63.

Perma-Pipe International (NASDAQ:PPIH) last released its quarterly earnings data on Wednesday, September 9th. The industrial products company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.24). The company had revenue of $59.57 million during the quarter, compared to analyst estimates of $51.20 million. Perma-Pipe International had a net margin of 6.89% and a return on equity of 21.58%.

Institutional Investors Weigh In On Perma-Pipe International

Several hedge funds have recently bought and sold shares of PPIH. Global Trust Asset Management LLC bought a new stake in shares of Perma-Pipe International during the first quarter worth approximately $44,000. Fortitude Family Office LLC acquired a new position in shares of Perma-Pipe International in the third quarter valued at approximately $46,000. Farther Finance Advisors LLC increased its stake in shares of Perma-Pipe International by 1,544.0% during the third quarter. Farther Finance Advisors LLC now owns 1,644 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 1,544 shares during the period. State of Wyoming increased its stake in shares of Perma-Pipe International by 62.7% during the first quarter. State of Wyoming now owns 3,421 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 1,319 shares during the period. Finally, Deutsche Bank AG acquired a new stake in Perma-Pipe International during the 2nd quarter worth approximately $202,000. 28.43% of the stock is currently owned by institutional investors and hedge funds.

Perma-Pipe International Company Profile

Perma-Pipe International Holdings, Inc (NASDAQ:PPIH) develops and manufactures engineered piping and leak-detection systems for infrastructure and industrial applications. Its products are designed to transport and protect fluids in systems that require thermal insulation, corrosion protection, or monitoring for leaks.

The company’s offerings include pre-insulated piping systems for district heating and cooling, oil and gas gathering and production, chemical processing, water and wastewater, and other industrial uses.