Perma-Pipe International (NASDAQ:PPIH) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Perma-Pipe International (NASDAQ:PPIHFree Report) from a buy rating to a strong-buy rating in a research note released on Sunday morning.

Perma-Pipe International Stock Performance

Shares of PPIH stock opened at $20.69 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.95 and a quick ratio of 1.72. The company’s fifty day moving average price is $14.08 and its two-hundred day moving average price is $14.14. The firm has a market capitalization of $165.11 million, a P/E ratio of 13.44 and a beta of 0.27. Perma-Pipe International has a 12 month low of $7.72 and a 12 month high of $23.17.

Perma-Pipe International (NASDAQ:PPIHGet Free Report) last released its quarterly earnings results on Friday, June 13th. The industrial products company reported $0.61 EPS for the quarter. The business had revenue of $46.75 million for the quarter. Perma-Pipe International had a return on equity of 17.84% and a net margin of 7.31%.

Institutional Trading of Perma-Pipe International

Institutional investors have recently added to or reduced their stakes in the stock. Ellsworth Advisors LLC acquired a new stake in Perma-Pipe International during the first quarter valued at approximately $581,000. Jane Street Group LLC raised its position in shares of 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. Empowered Funds LLC lifted its stake in Perma-Pipe International by 8.8% during the first quarter. Empowered Funds LLC now owns 20,101 shares of the industrial products company’s stock worth $250,000 after purchasing an additional 1,626 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in Perma-Pipe International by 1,960.8% in the first quarter. Raymond James Financial Inc. now owns 657,501 shares of the industrial products company’s stock worth $8,173,000 after purchasing an additional 625,596 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Perma-Pipe International by 81.3% during the first quarter. American Century Companies Inc. now owns 57,465 shares of the industrial products company’s stock worth $714,000 after purchasing an additional 25,763 shares during the period. 28.43% of the stock is owned by institutional investors and hedge funds.

About Perma-Pipe International

(Get Free Report)

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.

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