Perma-Pipe International (NASDAQ:PPIH) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $30.54 and traded as high as $32.25. Perma-Pipe International shares last traded at $31.88, with a volume of 70,511 shares.

Analysts Set New Price Targets

PPIH has been the subject of a number of recent research reports. Weiss Ratings downgraded shares of Perma-Pipe International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 19th. Wall Street Zen downgraded shares of Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a research note on Saturday, April 18th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Perma-Pipe International presently has an average rating of “Hold” and a consensus target price of $36.00.

Perma-Pipe International Stock Performance

The company has a market capitalization of $258.87 million, a P/E ratio of 15.33 and a beta of 0.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 1.84. The stock’s fifty day moving average price is $31.56 and its 200-day moving average price is $30.54.

Perma-Pipe International (NASDAQ:PPIH) last released its quarterly 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. The firm had revenue of $55.13 million for the quarter, compared to analysts’ expectations of $55.00 million. Perma-Pipe International had a net margin of 8.08% and a return on equity of 20.37%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in shares of 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 worth $27,000 after purchasing an additional 1,125 shares in the last quarter. Global Trust Asset Management LLC acquired a new position in shares of Perma-Pipe International during the 1st quarter worth approximately $44,000. State of Wyoming grew its position in shares of Perma-Pipe International by 59.7% during the 4th quarter. State of Wyoming now owns 2,102 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 786 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Perma-Pipe International during the 4th quarter worth approximately $212,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Perma-Pipe International during the 4th quarter worth approximately $234,000. 28.43% of the stock is owned by institutional investors.

About Perma-Pipe International

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.