Wall Street Zen Upgrades Perma-Pipe International (NASDAQ:PPIH) to Strong-Buy

Perma-Pipe International (NASDAQ:PPIH) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a report issued on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Perma-Pipe International in a research report on Monday, December 1st. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Perma-Pipe International Trading Up 11.3%

PPIH opened at $32.59 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $26.55 and its two-hundred day moving average is $24.64. The company has a market capitalization of $263.65 million, a P/E ratio of 26.28 and a beta of 0.54. Perma-Pipe International has a 52 week low of $8.81 and a 52 week high of $36.48.

Perma-Pipe International (NASDAQ:PPIH) last posted its quarterly earnings results on Friday, December 12th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter. Perma-Pipe International had a return on equity of 13.92% and a net margin of 5.55%.

Hedge Funds Weigh In On Perma-Pipe International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd purchased a new stake in shares of Perma-Pipe International during the third quarter valued at about $208,000. Bank of America Corp DE raised its stake in shares of Perma-Pipe International by 275.8% during the 3rd quarter. Bank of America Corp DE now owns 4,472 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 3,282 shares in the last quarter. Cannell Capital LLC raised its stake in shares of Perma-Pipe International by 29.0% during 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 in the last quarter. Wolverine Trading LLC purchased a new stake in Perma-Pipe International during the third quarter valued at approximately $354,000. Finally, UBS Group AG boosted its stake in Perma-Pipe International by 7,873.9% in the third quarter. UBS Group AG now owns 26,234 shares of the industrial products company’s stock valued at $615,000 after acquiring an additional 25,905 shares in the last quarter. Hedge funds and other institutional investors own 28.43% of the company’s stock.

Perma-Pipe International Company Profile

Perma-Pipe International Holdings, Inc, together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers insulated 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.