Evernest Financial Advisors LLC Acquires Shares of 16,617 Perma-Pipe International Holdings, Inc. $PPIH

Evernest Financial Advisors LLC acquired a new stake in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,617 shares of the industrial products company’s stock, valued at approximately $389,000. Evernest Financial Advisors LLC owned 0.21% of Perma-Pipe International as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in PPIH. Bank of America Corp DE raised its holdings in Perma-Pipe International by 1,730.8% during the 2nd quarter. Bank of America Corp DE now owns 1,190 shares of the industrial products company’s stock valued at $27,000 after buying an additional 1,125 shares during the last quarter. U S Global Investors Inc. grew its holdings in Perma-Pipe International by 400.0% in the 3rd quarter. U S Global Investors Inc. now owns 5,000 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 4,000 shares during the last quarter. Corsair Capital Management L.P. purchased a new position in shares of Perma-Pipe International in the second quarter valued at about $214,000. Calamos Advisors LLC bought a new position in shares of Perma-Pipe International during the third quarter valued at about $223,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of Perma-Pipe International during the third quarter worth about $234,000. Institutional investors own 28.43% of the company’s stock.

Perma-Pipe International Stock Performance

Perma-Pipe International stock opened at $31.63 on Wednesday. Perma-Pipe International Holdings, Inc. has a fifty-two week low of $8.81 and a fifty-two week high of $36.48. The stock’s 50 day simple moving average is $31.60 and its two-hundred day simple moving average is $28.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.53 and a current ratio of 1.76. The stock has a market cap of $255.89 million, a price-to-earnings ratio of 18.61 and a beta of 0.49.

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

Wall Street Analyst Weigh In

PPIH has been the topic of a number of research analyst reports. Loop Capital set a $36.00 price target on Perma-Pipe International in a report on Tuesday, December 16th. Weiss Ratings upgraded Perma-Pipe International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Finally, Wall Street Zen raised Perma-Pipe International from a “hold” rating to a “strong-buy” rating in a research note on Saturday, December 13th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Perma-Pipe International currently has a consensus rating of “Buy” and a consensus target price of $36.00.

Perma-Pipe International 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.