Perma-Pipe International (NASDAQ:PPIH) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Perma-Pipe (NASDAQ:PPIH) shares crossed above their 200‑day moving average (200‑day MA $28.91) on Wednesday, trading as high as $32.49 and last at $31.62 on a volume of 84,157 shares.
• Several analysts have upgraded the stock (Weiss to Buy, Wall Street Zen to Strong‑Buy) and Loop Capital set a $36 price target, leaving a MarketBeat consensus rating of Buy with an average target of $36.00.
• Institutional buying has recently increased (Invesco, Royce, Millennium and others), with institutions owning about 28.43% of shares; the company has a $255.8M market cap, P/E of 18.6, low debt‑to‑equity (0.15) and supplies prefabricated insulated piping to oil & gas, petrochemical, power and district energy markets.

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $28.91 and traded as high as $32.49. Perma-Pipe International shares last traded at $31.62, with a volume of 84,157 shares trading hands.

Analysts Set New Price Targets

PPIH has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Perma-Pipe International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 23rd. Wall Street Zen upgraded shares of Perma-Pipe International from a "hold" rating to a "strong-buy" rating in a research note on Saturday, December 13th. Finally, Loop Capital set a $36.00 price target on shares of Perma-Pipe International in a research note on Tuesday, December 16th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $36.00.

Perma-Pipe International Price Performance

The company has a market capitalization of $255.81 million, a P/E ratio of 18.60 and a beta of 0.57. The firm's fifty day moving average is $30.72 and its 200 day moving average is $28.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.53 and a current ratio of 1.76.

Institutional Investors Weigh In On Perma-Pipe International

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. acquired a new position in Perma-Pipe International during the 4th quarter valued at approximately $2,914,000. Royce & Associates LP acquired a new position in Perma-Pipe International during the 3rd quarter valued at approximately $2,146,000. 683 Capital Management LLC acquired a new position in Perma-Pipe International during the 4th quarter valued at approximately $1,122,000. Russell Investments Group Ltd. acquired a new position in Perma-Pipe International during the 3rd quarter valued at approximately $805,000. Finally, Millennium Management LLC increased its stake in Perma-Pipe International by 265.1% during the 4th quarter. Millennium Management LLC now owns 42,780 shares of the industrial products company's stock valued at $1,299,000 after purchasing an additional 31,064 shares in the last quarter. Hedge funds and other institutional investors own 28.43% of the company's stock.

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.

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