Perma-Pipe International (NASDAQ:PPIH - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "hold" rating in a report issued on Saturday.
Perma-Pipe International Stock Up 4.4%
Shares of NASDAQ:PPIH traded up $1.01 on Friday, hitting $23.84. 239,082 shares of the company traded hands, compared to its average volume of 204,195. Perma-Pipe International has a 52 week low of $8.81 and a 52 week high of $33.09. The company has a quick ratio of 1.72, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. The stock has a 50 day simple moving average of $26.66 and a 200-day simple moving average of $19.11. The company has a market cap of $192.87 million, a PE ratio of 19.23 and a beta of 0.54.
Perma-Pipe International (NASDAQ:PPIH - Get Free Report) last issued its quarterly earnings results on Monday, September 15th. The industrial products company reported $0.10 earnings per share for the quarter. Perma-Pipe International had a return on equity of 13.92% and a net margin of 5.55%.The firm had revenue of $47.90 million during the quarter.
Institutional Investors Weigh In On Perma-Pipe International
Several institutional investors have recently modified their holdings of PPIH. Bank of America Corp DE boosted its position in shares of Perma-Pipe International by 1,730.8% during the second quarter. Bank of America Corp DE now owns 1,190 shares of the industrial products company's stock valued at $27,000 after buying an additional 1,125 shares during the last quarter. State of Wyoming purchased a new stake in shares of Perma-Pipe International during the fourth quarter valued at $77,000. Lazard Asset Management LLC purchased a new stake in shares of Perma-Pipe International during the fourth quarter valued at $113,000. Jane Street Group LLC purchased a new stake in shares of Perma-Pipe International during the fourth quarter valued at $178,000. Finally, IMS Capital Management purchased a new stake in shares of Perma-Pipe International during the second quarter valued at $201,000. 28.43% of the stock is owned by hedge funds and other institutional investors.
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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