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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Analyst Ratings Changes

Several research firms have recently weighed in on PPIH. Weiss Ratings raised shares of Perma-Pipe International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. 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, Loop Capital set a $36.00 target price on Perma-Pipe International in a report on Tuesday, December 16th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $36.00.

Perma-Pipe International Stock Performance

The stock has a 50-day moving average of $30.18 and a 200 day moving average of $27.55. The firm has a market capitalization of $233.64 million, a P/E ratio of 16.99 and a beta of 0.52. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.53 and a current ratio of 1.76.

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

Hedge Funds Weigh In On Perma-Pipe International

A number of hedge funds have recently added to or reduced their stakes in PPIH. Royce & Associates LP bought a new stake in shares of Perma-Pipe International during the 3rd quarter valued at $2,146,000. Truffle Hound Capital LLC bought a new stake in Perma-Pipe International during the second quarter valued at about $938,000. Russell Investments Group Ltd. purchased a new position in shares of Perma-Pipe International during the third quarter valued at about $805,000. JPMorgan Chase & Co. raised its position in Perma-Pipe International by 1,595.6% during the third quarter. JPMorgan Chase & Co. now owns 30,419 shares of the industrial products company’s stock valued at $713,000 after purchasing an additional 28,625 shares during the period. Finally, Cannell Capital LLC raised its position in Perma-Pipe International by 29.0% in the 3rd quarter. Cannell Capital LLC now owns 121,170 shares of the industrial products company’s stock worth $2,839,000 after purchasing an additional 27,259 shares during the period. Institutional investors and hedge funds own 28.43% of the company’s stock.

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.