Perma-Pipe International (NASDAQ:PPIH) Downgraded to Buy Rating by Wall Street Zen

Perma-Pipe International (NASDAQ:PPIH) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Perma-Pipe International Trading Up 18.9%

Shares of PPIH stock opened at $17.33 on Friday. Perma-Pipe International has a 12 month low of $7.72 and a 12 month high of $19.14. The company has a market cap of $138.35 million, a PE ratio of 8.80 and a beta of 0.27. The company has a quick ratio of 1.64, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $12.99 and its two-hundred day moving average is $13.96.

Perma-Pipe International (NASDAQ:PPIH) last posted its 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 net margin of 10.33% and a return on equity of 23.41%.

Hedge Funds Weigh In On Perma-Pipe International

Institutional investors have recently made changes to their positions in the business. Empowered Funds LLC acquired a new stake in Perma-Pipe International in the 4th quarter valued at approximately $276,000. IFP Advisors Inc acquired a new position in shares of Perma-Pipe International during the fourth quarter worth approximately $48,000. Raymond James Financial Inc. bought a new stake in shares of Perma-Pipe International in the fourth quarter valued at approximately $477,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Perma-Pipe International in the fourth quarter worth $297,000. Finally, Virtu Financial LLC acquired a new stake in shares of Perma-Pipe International in 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.