Perma-Pipe International (NASDAQ:PPIH) Stock Passes 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 Tuesday . The stock has a two hundred day moving average of $30.22 and traded as high as $33.26. Perma-Pipe International shares last traded at $32.71, with a volume of 56,883 shares trading hands.

Analyst Ratings Changes

PPIH has been the subject of a number of research reports. Wall Street Zen lowered Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a report on Saturday, April 18th. 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. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $36.00.

Perma-Pipe International Stock Down 3.1%

The company has a market cap of $265.61 million, a P/E ratio of 15.73 and a beta of 0.58. The company has a quick ratio of 1.61, a current ratio of 1.84 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $31.07 and its 200 day moving average is $30.22.

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

Hedge Funds Weigh In On Perma-Pipe International

A number of large investors have recently made changes to their positions in PPIH. Invesco Ltd. acquired a new position in shares of Perma-Pipe International during the fourth quarter worth $2,914,000. Royce & Associates LP acquired a new position in shares of Perma-Pipe International during the third quarter worth $2,146,000. 683 Capital Management LLC acquired a new position in shares of Perma-Pipe International during the fourth quarter worth $1,122,000. Russell Investments Group Ltd. acquired a new position in shares of Perma-Pipe International during the third quarter worth $805,000. Finally, Millennium Management LLC increased its position in shares of Perma-Pipe International by 265.1% during the fourth quarter. Millennium Management LLC now owns 42,780 shares of the industrial products company’s stock worth $1,299,000 after purchasing an additional 31,064 shares in the last quarter. 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.