Perma-Pipe International (NASDAQ:PPIH) Stock Breaks Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Perma-Pipe shares moved above their 200-day moving average, trading as high as $30.11 and last at $29.65.
• Analyst sentiment is positive: the stock has a consensus Buy rating and a $37 average price target; Freedom Broker raised its target to $38.
• Quarterly results were mixed: Perma-Pipe reported EPS of $0.31, below the $0.55 consensus, while revenue of $59.57 million exceeded estimates of $51.20 million.

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $29.45 and traded as high as $30.11. Perma-Pipe International shares last traded at $29.65, with a volume of 49,615 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Weiss Ratings raised Perma-Pipe International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, November 2nd. Freedom Broker lifted their target price on Perma-Pipe International from $29.55 to $38.00 and gave the company a "buy" rating in a research report on Friday, September 11th. Two investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $37.00.

Perma-Pipe International Price Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.19 and a quick ratio of 1.92. The company's 50-day simple moving average is $29.83 and its 200-day simple moving average is $29.45. The stock has a market capitalization of $243.13 million, a P/E ratio of 15.61 and a beta of 0.63.

Perma-Pipe International (NASDAQ:PPIH - Get Free Report) last announced its quarterly earnings data on Wednesday, September 9th. The industrial products company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.55 by ($0.24). The firm had revenue of $59.57 million during the quarter, compared to the consensus estimate of $51.20 million. Perma-Pipe International had a net margin of 6.89% and a return on equity of 21.58%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC increased its position in shares of Perma-Pipe International by 4.5% during the third quarter. Ashton Thomas Private Wealth LLC now owns 8,275 shares of the industrial products company's stock worth $255,000 after acquiring an additional 353 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in Perma-Pipe International by 0.3% during the second quarter. Wedbush Securities Inc. now owns 196,905 shares of the industrial products company's stock valued at $5,362,000 after purchasing an additional 550 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Perma-Pipe International by 420.5% in the third quarter. Parallel Advisors LLC now owns 1,369 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 1,106 shares during the period. State of Wyoming raised its holdings in Perma-Pipe International by 62.7% during the 1st quarter. State of Wyoming now owns 3,421 shares of the industrial products company's stock valued at $102,000 after acquiring an additional 1,319 shares during the period. Finally, Fortitude Family Office LLC purchased a new stake in Perma-Pipe International during the 3rd quarter worth about $46,000. 28.43% of the stock is currently owned by institutional investors.

Perma-Pipe International Company Profile

Perma-Pipe International Holdings, Inc NASDAQ: PPIH develops and manufactures engineered piping and leak-detection systems for infrastructure and industrial applications. Its products are designed to transport and protect fluids in systems that require thermal insulation, corrosion protection, or monitoring for leaks.

The company's offerings include pre-insulated piping systems for district heating and cooling, oil and gas gathering and production, chemical processing, water and wastewater, and other industrial uses.

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