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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $28.36 and traded as high as $33.00. Perma-Pipe International shares last traded at $32.50, with a volume of 67,290 shares.

Analyst Upgrades and Downgrades

A number of analysts have commented on PPIH shares. Loop Capital set a $36.00 price target on shares of Perma-Pipe International in a research note on Tuesday, December 16th. Wall Street Zen raised shares of Perma-Pipe International from a “hold” rating to a “strong-buy” rating in a report on Saturday, December 13th. Finally, Weiss Ratings downgraded shares of Perma-Pipe International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 9th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $36.00.

Perma-Pipe International Stock Performance

The stock has a fifty day simple moving average of $31.51 and a two-hundred day simple moving average of $28.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.53 and a current ratio of 1.76. The stock has a market cap of $262.93 million, a price-to-earnings ratio of 19.12 and a beta of 0.51.

Perma-Pipe International (NASDAQ:PPIH) last announced its quarterly earnings results on Friday, December 12th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter. The company 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 18.12%.

Institutional Trading of Perma-Pipe International

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Perma-Pipe International by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 478,988 shares of the industrial products company’s stock valued at $11,222,000 after purchasing an additional 2,463 shares in the last quarter. Vanguard Group Inc. boosted its position in Perma-Pipe International by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 350,705 shares of the industrial products company’s stock worth $8,217,000 after buying an additional 15,668 shares during the period. Royce & Associates LP boosted its position in Perma-Pipe International by 62.9% during the 4th quarter. Royce & Associates LP now owns 149,253 shares of the industrial products company’s stock worth $4,531,000 after buying an additional 57,655 shares during the period. Cannell Capital LLC grew its holdings in Perma-Pipe International by 29.0% during the 3rd quarter. Cannell Capital LLC now owns 121,170 shares of the industrial products company’s stock worth $2,839,000 after acquiring an additional 27,259 shares during the last quarter. Finally, Invesco Ltd. acquired a new position in Perma-Pipe International in the 4th quarter valued at approximately $2,914,000. 28.43% of the stock is owned by institutional investors and hedge funds.

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.