Perma-Pipe International (NASDAQ:PPIH) Downgraded by TheStreet to C+

TheStreet cut shares of Perma-Pipe International (NASDAQ:PPIHGet Rating) from a b rating to a c+ rating in a research note released on Tuesday morning, TheStreetRatingsTable reports.

NASDAQ PPIH opened at $7.50 on Tuesday. The company has a market capitalization of $61.20 million, a price-to-earnings ratio of 10.42 and a beta of 0.09. The company has a current ratio of 1.90, a quick ratio of 1.54 and a debt-to-equity ratio of 0.09. Perma-Pipe International has a 1-year low of $6.28 and a 1-year high of $15.70. The stock’s 50 day moving average is $11.80 and its two-hundred day moving average is $9.87.

Perma-Pipe International (NASDAQ:PPIHGet Rating) last posted its quarterly earnings data on Tuesday, April 19th. The industrial products company reported $0.36 earnings per share for the quarter. Perma-Pipe International had a net margin of 4.14% and a return on equity of 11.36%. The firm had revenue of $39.13 million during the quarter.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Perma-Pipe International by 126.8% in the 3rd quarter. BlackRock Inc. now owns 31,434 shares of the industrial products company’s stock worth $244,000 after purchasing an additional 17,574 shares during the period. Cannell Capital LLC boosted its stake in shares of Perma-Pipe International by 64.4% during the 1st quarter. Cannell Capital LLC now owns 45,044 shares of the industrial products company’s stock worth $425,000 after buying an additional 17,645 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of Perma-Pipe International by 281.4% during the 4th quarter. Baird Financial Group Inc. now owns 59,390 shares of the industrial products company’s stock worth $516,000 after buying an additional 43,820 shares during the last quarter. IMS Capital Management acquired a new position in shares of Perma-Pipe International during the 1st quarter worth about $755,000. Finally, Shufro Rose & Co. LLC acquired a new position in shares of Perma-Pipe International during the 1st quarter worth about $983,000. Institutional investors and hedge funds own 22.04% of the company’s stock.

Perma-Pipe International Company Profile (Get Rating)

Perma-Pipe International Holdings, Inc, together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers provides and jacketed district heating and cooling piping systems for energy distribution from central energy plants to various locations; and primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, as well as engages in the coating and insulation of oil and gas gathering and transmission pipelines.

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