Perma-Pipe International (NASDAQ:PPIH) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Shares of 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 $27.80 and traded as high as $31.62. Perma-Pipe International shares last traded at $31.46, with a volume of 80,702 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PPIH. Loop Capital set a $36.00 price objective 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 research report on Monday, January 26th. Finally, Wall Street Zen raised Perma-Pipe International from a “hold” rating to a “strong-buy” rating in a report on Saturday, December 13th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $36.00.

Perma-Pipe International Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.76 and a quick ratio of 1.53. The company has a market capitalization of $254.51 million, a PE ratio of 18.51 and a beta of 0.51. The stock’s 50 day simple moving average is $30.68 and its 200-day simple moving average is $27.80.

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

Institutional Trading of Perma-Pipe International

Large investors have recently made changes to their positions in the company. Empowered Funds LLC increased its position in Perma-Pipe International by 8.8% in the 1st quarter. Empowered Funds LLC now owns 20,101 shares of the industrial products company’s stock valued at $250,000 after acquiring an additional 1,626 shares during the period. Jane Street Group LLC increased its holdings in Perma-Pipe International by 55.2% during the 1st quarter. Jane Street Group LLC now owns 18,505 shares of the industrial products company’s stock valued at $230,000 after acquiring an additional 6,583 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Perma-Pipe International by 32.5% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,225 shares of the industrial products company’s stock worth $531,000 after acquiring an additional 5,696 shares during the last quarter. Truffle Hound Capital LLC acquired a new position in shares of Perma-Pipe International in the second quarter valued at approximately $938,000. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Perma-Pipe International during the 2nd quarter worth about $279,000. 28.43% of the stock is owned by institutional investors and hedge funds.

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.