Perma-Pipe International (NASDAQ:PPIH) Stock Rating Lowered by Wall Street Zen
by Doug Wharley · The Cerbat GemPerma-Pipe International (NASDAQ:PPIH – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “hold” rating in a report released on Saturday.
Separately, Weiss Ratings raised shares of Perma-Pipe International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Perma-Pipe International presently has a consensus rating of “Buy” and a consensus price target of $36.00.
Read Our Latest Research Report on PPIH
Perma-Pipe International Price Performance
Shares of PPIH opened at $30.31 on Friday. 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 stock has a fifty day simple moving average of $31.20 and a two-hundred day simple moving average of $29.46. Perma-Pipe International has a 52-week low of $11.22 and a 52-week high of $36.72. The company has a market capitalization of $245.33 million, a PE ratio of 14.57 and a beta of 0.57.
Perma-Pipe International (NASDAQ:PPIH – Get Free Report) last posted its earnings results on Thursday, April 16th. The industrial products company reported $0.60 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $55.00 million.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of PPIH. Dimensional Fund Advisors LP boosted its stake in Perma-Pipe International by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 478,988 shares of the industrial products company’s stock worth $11,222,000 after buying an additional 2,463 shares during the period. Vanguard Group Inc. raised its stake in shares of Perma-Pipe International by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 350,705 shares of the industrial products company’s stock valued at $8,217,000 after acquiring an additional 15,668 shares during the period. Royce & Associates LP lifted its holdings in shares of Perma-Pipe International by 62.9% in the 4th quarter. Royce & Associates LP now owns 149,253 shares of the industrial products company’s stock worth $4,531,000 after acquiring an additional 57,655 shares during the last quarter. Cannell Capital LLC lifted its holdings in shares of Perma-Pipe International by 29.0% in the 3rd quarter. Cannell Capital LLC now owns 121,170 shares of the industrial products company’s stock worth $2,839,000 after acquiring an additional 27,259 shares during the last quarter. Finally, Invesco Ltd. purchased a new position in shares of Perma-Pipe International during the 4th quarter worth approximately $2,914,000. Institutional investors and hedge funds own 28.43% of the company’s stock.
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.