Wall Street Zen Upgrades Perma-Pipe International (NASDAQ:PPIH) to Strong-Buy

Perma-Pipe International (NASDAQ:PPIH - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Sunday.

Perma-Pipe International Trading Up 1.1%

Shares of PPIH stock traded up $0.25 during trading hours on Friday, hitting $22.25. 53,332 shares of the company's stock traded hands, compared to its average volume of 34,559. The stock's 50 day simple moving average is $14.53 and its 200 day simple moving average is $14.24. The stock has a market cap of $177.56 million, a PE ratio of 14.45 and a beta of 0.27. Perma-Pipe International has a 12 month low of $7.72 and a 12 month high of $24.47. The company has a quick ratio of 1.72, a current ratio of 1.95 and a debt-to-equity ratio of 0.05.

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. The business had revenue of $46.75 million during the quarter. Perma-Pipe International had a return on equity of 17.84% and a net margin of 7.31%.

Hedge Funds Weigh In On Perma-Pipe International

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC bought a new stake in Perma-Pipe International in the fourth quarter valued at approximately $36,000. IFP Advisors Inc acquired a new position in shares of Perma-Pipe International in the 4th quarter worth approximately $48,000. State of Wyoming bought a new stake in shares of Perma-Pipe International in the 4th quarter valued at $77,000. Lazard Asset Management LLC acquired a new stake in shares of Perma-Pipe International during the fourth quarter worth $113,000. Finally, Virtu Financial LLC acquired a new stake in shares of Perma-Pipe International during the fourth quarter worth $152,000. 28.43% of the stock is currently owned by institutional investors.

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.