Perma-Pipe International (NASDAQ:PPIH - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Saturday.
Perma-Pipe International Trading Up 18.9%
NASDAQ PPIH traded up $2.76 during trading hours on Friday, hitting $17.33. 214,509 shares of the company's stock were exchanged, compared to its average volume of 31,397. The stock has a 50-day simple moving average of $12.99 and a 200 day simple moving average of $13.98. Perma-Pipe International has a 1-year low of $7.72 and a 1-year high of $19.14. The firm has a market cap of $138.35 million, a price-to-earnings ratio of 8.80 and a beta of 0.27. The company has a current ratio of 1.94, a quick ratio of 1.64 and a debt-to-equity ratio of 0.12.
Perma-Pipe International (NASDAQ:PPIH - Get Free Report) last announced its quarterly earnings results on Friday, June 13th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter. The business had revenue of $46.75 million for the quarter. Perma-Pipe International had a return on equity of 23.41% and a net margin of 10.33%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. lifted its stake in Perma-Pipe International by 1,960.8% in the 1st quarter. Raymond James Financial Inc. now owns 657,501 shares of the industrial products company's stock worth $8,173,000 after purchasing an additional 625,596 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Perma-Pipe International in the 4th quarter worth approximately $1,093,000. EAM Investors LLC purchased a new stake in Perma-Pipe International in the 4th quarter worth approximately $708,000. Ellsworth Advisors LLC purchased a new stake in Perma-Pipe International in the 1st quarter worth approximately $581,000. Finally, Marshall Wace LLP purchased a new stake in Perma-Pipe International in the 4th quarter worth approximately $488,000. 28.43% of the stock is owned by institutional investors.
About Perma-Pipe International
(
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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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