Perma-Pipe International (NASDAQ:PPIH) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.92 and traded as high as $33.34. Perma-Pipe International shares last traded at $32.29, with a volume of 56,343 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently issued reports 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, February 23rd. Wall Street Zen cut shares of Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a research note on Saturday, April 18th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $36.00.

Perma-Pipe International Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.84 and a quick ratio of 1.61. The firm has a fifty day moving average price of $31.05 and a two-hundred day moving average price of $29.92. The stock has a market capitalization of $262.29 million, a PE ratio of 15.52 and a beta of 0.58.

Perma-Pipe International (NASDAQ:PPIH) last announced its quarterly earnings data on Thursday, April 16th. The industrial products company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Perma-Pipe International had a net margin of 8.08% and a return on equity of 20.37%. The company had revenue of $55.13 million during the quarter, compared to analyst estimates of $55.00 million.

Institutional Investors Weigh In On Perma-Pipe International

A number of hedge funds have recently made changes to their positions in PPIH. Global Trust Asset Management LLC purchased a new stake in Perma-Pipe International during the first quarter valued at approximately $44,000. Ritholtz Wealth Management grew its holdings in Perma-Pipe International by 3.4% in the first quarter. Ritholtz Wealth Management now owns 19,554 shares of the industrial products company’s stock worth $583,000 after purchasing an additional 647 shares during the last quarter. ARS Investment Partners LLC acquired a new position in shares of Perma-Pipe International during the first quarter worth $263,000. Invesco Ltd. acquired a new position in shares of Perma-Pipe International during the fourth quarter worth $2,914,000. Finally, Empowered Funds LLC lifted its holdings in shares of Perma-Pipe International by 10.9% during the 4th quarter. Empowered Funds LLC now owns 27,359 shares of the industrial products company’s stock valued at $831,000 after purchasing an additional 2,682 shares during the last quarter. 28.43% of the stock is currently owned by hedge funds and other institutional investors.

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.