Perma-Pipe International (NASDAQ:PPIH) Share Price Breaks Above Two Hundred Day Moving Average – What’s Next?

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $29.09 and traded as high as $31.63. Perma-Pipe International shares last traded at $31.32, with a volume of 32,315 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on PPIH shares. Weiss Ratings restated a “hold (c+)” rating on shares of Perma-Pipe International in a research report on Friday, August 14th. Freedom Broker lifted their price objective on Perma-Pipe International from $29.55 to $38.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Perma-Pipe International Stock Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.92 and a current ratio of 2.19. The company has a market capitalization of $256.82 million, a price-to-earnings ratio of 16.48 and a beta of 0.63. The firm has a 50-day simple moving average of $28.69 and a two-hundred day simple moving average of $29.09.

Perma-Pipe International (NASDAQ:PPIH) last released its earnings results on Wednesday, September 9th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.24). The business had revenue of $59.57 million for the quarter, compared to analyst estimates of $51.20 million. Perma-Pipe International had a return on equity of 21.58% and a net margin of 6.89%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Perma-Pipe International during the 2nd quarter worth $11,557,000. Meros Investment Management LP acquired a new stake in shares of Perma-Pipe International in the 2nd quarter worth $3,598,798. Arrowstreet Capital Limited Partnership raised its position in Perma-Pipe International by 122.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 154,784 shares of the industrial products company’s stock worth $4,614,000 after acquiring an additional 85,218 shares in the last quarter. Renaissance Technologies LLC grew its position in Perma-Pipe International by 39.1% during the first quarter. Renaissance Technologies LLC now owns 209,093 shares of the industrial products company’s stock worth $6,233,000 after buying an additional 58,800 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in Perma-Pipe International in the 1st quarter valued at approximately $1,265,000. Hedge funds and other institutional investors own 28.43% of the company’s stock.

About Perma-Pipe International

Perma-Pipe International, Inc (NASDAQ:PPIH) is an engineered products and services company that designs and manufactures specialized piping systems for industrial, commercial, institutional and infrastructure applications. Its offerings include pre-insulated piping systems, containment piping, leak-detection systems and related products used to transport liquids and other materials while improving thermal efficiency, safety and system reliability.

The company serves markets such as district energy, heating and cooling, oil and gas, chemical processing, fire protection, marine, and other industrial and utility applications.