Perma-Pipe International (NASDAQ:PPIH) Posts Quarterly Earnings Results

Key Points

• Perma-Pipe International reported a quarterly earnings per share (EPS) of $0.10 with a net margin of 7.31% and return on equity of 17.84%.
• The company's stock traded down to $26.10, with significant trading volume of 851,269 shares exchanged, far exceeding its average volume of 54,983.
• Wall Street analysts upgraded Perma-Pipe International's stock rating from a "buy" to a "strong-buy" as of June 22nd, indicating positive market sentiment.

Perma-Pipe International (NASDAQ:PPIH - Get Free Report) released its quarterly earnings results on Monday. The industrial products company reported $0.10 EPS for the quarter, Zacks reports. Perma-Pipe International had a net margin of 7.31% and a return on equity of 17.84%.

Perma-Pipe International Stock Performance

NASDAQ:PPIH traded down $4.90 during mid-day trading on Monday, reaching $26.10. 851,269 shares of the company's stock were exchanged, compared to its average volume of 54,983. Perma-Pipe International has a one year low of $8.81 and a one year high of $33.09. The firm has a market capitalization of $208.36 million, a PE ratio of 17.02 and a beta of 0.54. The business's fifty day simple moving average is $26.66 and its two-hundred day simple moving average is $18.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 1.95.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Perma-Pipe International from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 22nd.

Institutional Investors Weigh In On Perma-Pipe International

A number of hedge funds have recently made changes to their positions in PPIH. Bank of America Corp DE boosted its position 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 worth $27,000 after buying an additional 1,125 shares during the period. Gamco Investors INC. ET AL bought a new stake in shares of Perma-Pipe International in the 2nd quarter valued at $283,000. Jane Street Group LLC increased its stake 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 purchasing an additional 6,583 shares in the last quarter. Empowered Funds LLC increased its stake in Perma-Pipe International by 8.8% during the 1st quarter. Empowered Funds LLC now owns 20,101 shares of the industrial products company's stock valued at $250,000 after purchasing an additional 1,626 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in shares of Perma-Pipe International by 4.4% in the 2nd quarter. Bridgeway Capital Management LLC now owns 64,422 shares of the industrial products company's stock worth $1,473,000 after acquiring an additional 2,711 shares in the last quarter. 28.43% of the stock is currently owned by institutional investors and hedge funds.

Perma-Pipe International Company Profile

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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