Perma-Pipe International (PPIH) to Release Earnings on Tuesday

Perma-Pipe International (NASDAQ:PPIH) is projected to release its results before the market opens on Tuesday, June 9th. Analysts expect Perma-Pipe International to post earnings of $0.48 per share and revenue of $54.00 million for the quarter.

Perma-Pipe International (NASDAQ:PPIH) last released its earnings results on Thursday, April 16th. The industrial products company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Perma-Pipe International had a return on equity of 20.37% and a net margin of 8.08%.The business had revenue of $55.13 million for the quarter, compared to analysts’ expectations of $55.00 million.

Perma-Pipe International Trading Up 1.2%

NASDAQ PPIH opened at $31.07 on Tuesday. The stock’s 50-day simple moving average is $31.64 and its two-hundred day simple moving average is $30.59. Perma-Pipe International has a twelve month low of $13.20 and a twelve month high of $36.72. 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 company has a market capitalization of $252.29 million, a price-to-earnings ratio of 14.94 and a beta of 0.54.

Institutional Investors Weigh In On Perma-Pipe International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in 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 valued at $27,000 after acquiring an additional 1,125 shares during the period. State of Wyoming increased its stake in Perma-Pipe International by 59.7% in 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 during the period. Qube Research & Technologies Ltd bought a new stake in Perma-Pipe International in the third quarter valued at approximately $208,000. Quadrature Capital Ltd bought a new stake in Perma-Pipe International in the fourth quarter valued at approximately $212,000. Finally, Jane Street Group LLC boosted its stake in shares of Perma-Pipe International by 55.2% during the first quarter. Jane Street Group LLC now owns 18,505 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 6,583 shares during the period. Institutional investors own 28.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings lowered Perma-Pipe International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 19th. Wall Street Zen downgraded Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a research report on Saturday, April 18th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Perma-Pipe International currently has a consensus rating of “Hold” and a consensus target price of $36.00.

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.