TheStreet Lowers Perma-Pipe International (NASDAQ:PPIH) to C+

TheStreet downgraded shares of Perma-Pipe International (NASDAQ:PPIHGet Rating) from a b rating to a c+ rating in a research report report published on Tuesday morning, TheStreetRatingsTable reports.

PPIH stock opened at $7.77 on Tuesday. The company has a market cap of $63.39 million, a PE ratio of 10.79 and a beta of 0.09. The business has a 50-day simple moving average of $11.76 and a 200 day simple moving average of $9.85. Perma-Pipe International has a 52 week low of $6.28 and a 52 week high of $15.70. The company has a quick ratio of 1.54, a current ratio of 1.90 and a debt-to-equity ratio of 0.09.

Perma-Pipe International (NASDAQ:PPIHGet Rating) last released its quarterly earnings results on Tuesday, April 19th. The industrial products company reported $0.36 earnings per share for the quarter. Perma-Pipe International had a return on equity of 11.36% and a net margin of 4.14%. The company had revenue of $39.13 million for the quarter.

Several large investors have recently added to or reduced their stakes in PPIH. Cannell Capital LLC grew its position in shares of Perma-Pipe International by 64.4% in the 1st quarter. Cannell Capital LLC now owns 45,044 shares of the industrial products company’s stock worth $425,000 after buying an additional 17,645 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Perma-Pipe International by 149.4% in the first quarter. Baird Financial Group Inc. now owns 148,118 shares of the industrial products company’s stock worth $1,397,000 after purchasing an additional 88,728 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Perma-Pipe International by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 477,717 shares of the industrial products company’s stock worth $4,505,000 after acquiring an additional 4,568 shares during the period. Shufro Rose & Co. LLC bought a new stake in shares of Perma-Pipe International in the first quarter worth $983,000. Finally, IMS Capital Management bought a new stake in Perma-Pipe International during the first quarter valued at about $755,000. 22.04% of the stock is currently owned by hedge funds and other institutional investors.

Perma-Pipe International Company Profile (Get Rating)

Perma-Pipe International Holdings, Inc, together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers provides 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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