Perma-Pipe International (NASDAQ:PPIH) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Perma-Pipe International shares rose above their 200-day moving average, reaching $31.63 and closing at $31.32, compared with the average of $29.09.
• Analyst sentiment is moderately positive: the consensus rating is “Moderate Buy” with a $37.00 price target, including a recent target increase to $38.00 and a Buy rating from Freedom Broker.
• The company exceeded revenue expectations with $59.57 million in quarterly sales but missed earnings estimates, reporting $0.31 per share versus the $0.55 consensus. Institutional investors own 28.43% of the stock.

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Get Free Report) shares passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $29.09 and traded as high as $31.63. Perma-Pipe International shares last traded at $31.32, with a volume of 32,315 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PPIH shares. Freedom Broker lifted their price target on shares of Perma-Pipe International from $29.55 to $38.00 and gave the stock a "buy" rating in a research report on Friday, September 11th. Weiss Ratings restated a "hold (c+)" rating on shares of Perma-Pipe International in a research report on Friday, August 14th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Perma-Pipe International Price Performance

The stock has a market cap of $256.82 million, a P/E ratio of 16.48 and a beta of 0.63. The company has a 50 day simple moving average of $28.69 and a 200 day simple moving average of $29.09. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 0.32.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its stake in Perma-Pipe International by 1,544.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,644 shares of the industrial products company's stock valued at $51,000 after buying an additional 1,544 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Perma-Pipe International during the 2nd quarter worth about $354,000. Wedbush Securities Inc. boosted its stake in shares of Perma-Pipe International by 0.3% during the 2nd quarter. Wedbush Securities Inc. now owns 196,905 shares of the industrial products company's stock worth $5,362,000 after buying an additional 550 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Perma-Pipe International in the 2nd quarter valued at about $874,000. Finally, Meros Investment Management LP bought a new position in shares of Perma-Pipe International in the 2nd quarter valued at about $3,598,798. Institutional investors own 28.43% of the company's stock.

Perma-Pipe International Company Profile

Perma-Pipe International, Inc NASDAQ: PPIH is an engineered products and services company that designs and manufactures specialized piping systems for industrial, commercial, institutional and infrastructure applications. Its offerings include pre-insulated piping systems, containment piping, leak-detection systems and related products used to transport liquids and other materials while improving thermal efficiency, safety and system reliability.

The company serves markets such as district energy, heating and cooling, oil and gas, chemical processing, fire protection, marine, and other industrial and utility applications.

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