Perma-Pipe International (NASDAQ:PPIH) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Perma-Pipe International (NASDAQ:PPIH – Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Perma-Pipe International in a research report on Monday, December 1st. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Perma-Pipe International presently has an average rating of “Hold”.

Check Out Our Latest Analysis on PPIH

Perma-Pipe International Price Performance

Shares of NASDAQ PPIH opened at $32.38 on Friday. The stock has a market cap of $261.95 million, a P/E ratio of 19.05 and a beta of 0.54. Perma-Pipe International has a twelve month low of $8.81 and a twelve month high of $36.48. The stock has a 50 day moving average of $26.73 and a two-hundred day moving average of $24.94. The company has a current ratio of 1.88, a quick ratio of 1.64 and a debt-to-equity ratio of 0.05.

Perma-Pipe International (NASDAQ:PPIH – Get Free Report) last announced its earnings results on Friday, December 12th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter. The business had revenue of $61.15 million for the quarter. Perma-Pipe International had a net margin of 6.91% and a return on equity of 18.65%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Raymond James Financial Inc. boosted its position in shares of Perma-Pipe International by 1,960.8% during the 1st quarter. Raymond James Financial Inc. now owns 657,501 shares of the industrial products company’s stock worth $8,173,000 after purchasing an additional 625,596 shares in the last quarter. Royce & Associates LP acquired a new stake in shares of Perma-Pipe International in the third quarter valued at about $2,146,000. Ellsworth Advisors LLC acquired a new stake in shares of Perma-Pipe International in the first quarter valued at about $581,000. Truffle Hound Capital LLC purchased a new stake in Perma-Pipe International during the second quarter worth about $938,000. Finally, Russell Investments Group Ltd. acquired a new position in Perma-Pipe International during the third quarter worth about $805,000. 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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