Perma-Pipe International (NASDAQ:PPIH) Issues Earnings Results

by · The Cerbat Gem

Perma-Pipe International (NASDAQ:PPIH – Get Free Report) released its quarterly earnings data on Friday. The industrial products company reported $0.77 EPS for the quarter, Zacks reports. Perma-Pipe International had a return on equity of 13.92% and a net margin of 5.55%.

Perma-Pipe International Trading Up 10.3%

PPIH traded up $3.02 on Friday, hitting $32.31. The company had a trading volume of 92,802 shares, compared to its average volume of 74,465. The business’s fifty day simple moving average is $26.34 and its 200 day simple moving average is $24.51. The company has a quick ratio of 1.64, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. Perma-Pipe International has a 12-month low of $8.81 and a 12-month high of $36.48. The company has a market cap of $261.39 million, a PE ratio of 26.15 and a beta of 0.54.

Wall Street Analyst Weigh In

PPIH has been the subject of a number of research reports. Wall Street Zen cut Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 20th. Weiss Ratings restated a “hold (c)” rating on shares of Perma-Pipe International in a research report on Monday, December 1st. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Perma-Pipe International presently has a consensus rating of “Hold”.

Read Our Latest Stock Analysis on PPIH

Institutional Trading of Perma-Pipe International

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its stake in shares of Perma-Pipe International by 1,730.8% during the 2nd 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 period. Qube Research & Technologies Ltd purchased a new stake in shares of Perma-Pipe International during the 3rd quarter worth $208,000. Jane Street Group LLC grew its position in shares of Perma-Pipe International by 55.2% in the 1st quarter. Jane Street Group LLC now owns 18,505 shares of the industrial products company’s stock worth $230,000 after buying an additional 6,583 shares during the last quarter. Empowered Funds LLC boosted its position in shares of 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 purchasing an additional 1,626 shares in the last quarter. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of Perma-Pipe International during the second quarter worth about $283,000. Hedge funds and other institutional investors own 28.43% of the company’s stock.

Perma-Pipe International Company Profile

(Get Free Report)

Perma-Pipe International Holdings, Inc, together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers insulated and jacketed district heating and cooling piping systems for energy distribution from central energy plants to various locations; and primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, as well as engages in the coating and insulation of oil and gas gathering and transmission pipelines.

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