Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $16.41 and traded as high as $27.62. Perma-Pipe International shares last traded at $27.20, with a volume of 125,057 shares changing hands.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded shares of Perma-Pipe International from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 22nd.
Check Out Our Latest Analysis on PPIH
Perma-Pipe International Stock Performance
The company has a current ratio of 1.95, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05. The company's 50-day moving average price is $22.85 and its two-hundred day moving average price is $16.57. The company has a market cap of $217.61 million, a P/E ratio of 17.71 and a beta of 0.46.
Perma-Pipe International (NASDAQ:PPIH - Get Free Report) last posted its quarterly earnings data on Friday, June 13th. The industrial products company reported $0.61 earnings per share for the quarter. Perma-Pipe International had a net margin of 7.31% and a return on equity of 17.84%. The company had revenue of $46.75 million during the quarter.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in PPIH. JPMorgan Chase & Co. boosted its holdings in shares of Perma-Pipe International by 66,600.0% in the fourth quarter. JPMorgan Chase & Co. now owns 12,006 shares of the industrial products company's stock worth $179,000 after buying an additional 11,988 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Perma-Pipe International by 6.2% in the fourth quarter. Renaissance Technologies LLC now owns 195,993 shares of the industrial products company's stock worth $2,930,000 after buying an additional 11,489 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Perma-Pipe International in the fourth quarter worth about $477,000. Barclays PLC acquired a new position in shares of Perma-Pipe International in the fourth quarter worth about $36,000. Finally, Marshall Wace LLP acquired a new position in shares of Perma-Pipe International in the fourth quarter worth about $488,000. 28.43% of the stock is currently 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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