Perma-Pipe International (NASDAQ:PPIH) Releases Quarterly Earnings Results

Perma-Pipe International (NASDAQ:PPIH) posted its quarterly earnings results 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%.The business had revenue of $61.15 million during the quarter.

Perma-Pipe International Stock Performance

PPIH stock opened at $32.59 on Friday. Perma-Pipe International has a 1 year low of $8.81 and a 1 year high of $36.48. The stock has a market capitalization of $263.65 million, a price-to-earnings ratio of 19.17 and a beta of 0.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.64 and a current ratio of 1.88. The stock’s fifty day moving average is $26.55 and its two-hundred day moving average is $24.72.

Institutional Trading of Perma-Pipe International

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in 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 valued at $27,000 after purchasing an additional 1,125 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Perma-Pipe International during the third quarter valued at approximately $208,000. Jane Street Group LLC boosted its position in shares of Perma-Pipe International by 55.2% during the first 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 period. Empowered Funds LLC grew its holdings in 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 buying an additional 1,626 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new stake in Perma-Pipe International in the 2nd quarter valued at approximately $283,000. 28.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wall Street Zen upgraded Perma-Pipe International from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Perma-Pipe International in a report on Monday, December 1st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Perma-Pipe International Company Profile

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.