Perma-Pipe International (NASDAQ:PPIH) Shares Cross Above 200-Day Moving Average – Should You Sell?

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.51 and traded as high as $30.00. Perma-Pipe International shares last traded at $29.43, with a volume of 74,499 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PPIH shares. Loop Capital set a $36.00 price objective on Perma-Pipe International in a research report on Tuesday, December 16th. Wall Street Zen raised Perma-Pipe International from a “hold” rating to a “strong-buy” rating in a research note on Saturday, December 13th. Finally, Weiss Ratings raised shares of Perma-Pipe International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $36.00.

Perma-Pipe International Stock Up 1.9%

The firm has a market capitalization of $238.09 million, a PE ratio of 17.31 and a beta of 0.52. The company has a current ratio of 1.76, a quick ratio of 1.53 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $30.08 and a two-hundred day moving average of $27.51.

Perma-Pipe International (NASDAQ:PPIH) last announced its quarterly earnings results on Friday, December 12th. The industrial products company reported $0.77 EPS for the quarter. The company had revenue of $61.15 million during the quarter. Perma-Pipe International had a return on equity of 18.12% and a net margin of 6.91%.

Institutional Investors Weigh In On Perma-Pipe International

Several institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in shares of 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 valued at $27,000 after acquiring an additional 1,125 shares during the period. U S Global Investors Inc. increased its holdings in Perma-Pipe International by 400.0% in the 3rd quarter. U S Global Investors Inc. now owns 5,000 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 4,000 shares in the last quarter. Arlington Financial Advisors LLC acquired a new stake in Perma-Pipe International in the 4th quarter valued at $237,000. Qube Research & Technologies Ltd purchased a new position in Perma-Pipe International in the third quarter valued at about $208,000. Finally, Corsair Capital Management L.P. acquired a new position in shares of Perma-Pipe International during the second quarter worth about $214,000. 28.43% of the stock is currently owned by hedge funds and other institutional investors.

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.