Perma-Pipe International (NASDAQ:PPIH - Get Free Report) released its earnings results on Friday. The industrial products company reported $0.61 earnings per share for the quarter, Zacks reports. Perma-Pipe International had a net margin of 10.33% and a return on equity of 23.41%. The company had revenue of $46.75 million for the quarter.
Perma-Pipe International Price Performance
PPIH traded up $4.76 on Monday, hitting $22.09. 413,949 shares of the company's stock traded hands, compared to its average volume of 32,974. The company's 50 day simple moving average is $12.99 and its 200-day simple moving average is $13.95. The company has a current ratio of 1.94, a quick ratio of 1.64 and a debt-to-equity ratio of 0.12. Perma-Pipe International has a one year low of $7.72 and a one year high of $22.73. The firm has a market cap of $176.34 million, a price-to-earnings ratio of 11.21 and a beta of 0.27.
Institutional Investors Weigh In On Perma-Pipe International
A hedge fund recently raised its stake in Perma-Pipe International stock. Empowered Funds LLC lifted its stake in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Free Report) by 8.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,101 shares of the industrial products company's stock after buying an additional 1,626 shares during the quarter. Empowered Funds LLC owned approximately 0.25% of Perma-Pipe International worth $250,000 at the end of the most recent reporting period. 28.43% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen cut Perma-Pipe International from a "strong-buy" rating to a "buy" rating in a report on Saturday.
Read Our Latest Report on Perma-Pipe International
Perma-Pipe International Company Profile
(
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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.
Further Reading
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