Perma-Pipe International (NASDAQ:PPIH) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen downgraded shares of Perma-Pipe International (NASDAQ:PPIH) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

Perma-Pipe International Stock Performance

NASDAQ PPIH opened at $17.33 on Friday. The stock has a market cap of $138.35 million, a P/E ratio of 8.80 and a beta of 0.27. The company’s 50-day simple moving average is $12.99 and its 200 day simple moving average is $13.98. Perma-Pipe International has a twelve month low of $7.72 and a twelve month high of $19.14. The company has a quick ratio of 1.64, a current ratio of 1.94 and a debt-to-equity ratio of 0.12.

Perma-Pipe International (NASDAQ:PPIH) last posted its earnings results on Friday, June 13th. The industrial products company reported $0.61 earnings per share for the quarter. The business had revenue of $46.75 million for the quarter. Perma-Pipe International had a net margin of 10.33% and a return on equity of 23.41%.

Institutional Trading of Perma-Pipe International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PPIH. Barclays PLC bought a new stake in Perma-Pipe International in the fourth quarter valued at about $36,000. IFP Advisors Inc bought a new stake in Perma-Pipe International during the fourth quarter worth about $48,000. State of Wyoming bought a new stake in Perma-Pipe International during the fourth quarter worth about $77,000. Lazard Asset Management LLC bought a new stake in Perma-Pipe International during the fourth quarter worth about $113,000. Finally, Virtu Financial LLC bought a new stake in Perma-Pipe International during the fourth quarter worth about $152,000. Institutional investors own 28.43% of the company’s stock.

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.