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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.03 and traded as high as $32.25. Perma-Pipe International shares last traded at $31.82, with a volume of 94,774 shares.

Analyst Upgrades and Downgrades

Several research firms recently commented on PPIH. Weiss Ratings lowered shares of Perma-Pipe International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Loop Capital set a $36.00 price target on shares of Perma-Pipe International in a report on Tuesday, December 16th. Finally, Wall Street Zen raised shares of Perma-Pipe International from a “hold” rating to a “strong-buy” rating in a research note on Saturday, December 13th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.00.

Perma-Pipe International Price Performance

The company has a market capitalization of $263.06 million, a price-to-earnings ratio of 19.12 and a beta of 0.52. The company has a current ratio of 1.76, a quick ratio of 1.53 and a debt-to-equity ratio of 0.15. The company’s 50 day simple moving average is $29.17 and its 200-day simple moving average is $27.13.

Perma-Pipe International (NASDAQ:PPIH) last announced its quarterly earnings data on Friday, December 12th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter. The business had revenue of $61.15 million for the quarter. Perma-Pipe International had a net margin of 6.91% and a return on equity of 18.12%.

Hedge Funds Weigh In On Perma-Pipe International

Several institutional investors have recently added to or reduced their stakes in PPIH. Truffle Hound Capital LLC acquired a new stake in shares of Perma-Pipe International in the second quarter worth approximately $938,000. Hillsdale Investment Management Inc. acquired a new position in Perma-Pipe International during the second quarter worth approximately $279,000. IMS Capital Management purchased a new position in Perma-Pipe International during the second quarter worth approximately $201,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Perma-Pipe International by 32.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,225 shares of the industrial products company’s stock valued at $531,000 after purchasing an additional 5,696 shares during the last quarter. Finally, Corsair Capital Management L.P. purchased a new stake in shares of Perma-Pipe International during the 2nd quarter valued at $214,000. 28.43% of the stock is currently owned by institutional investors and hedge funds.

About Perma-Pipe International

Perma-Pipe International Holdings Ltd. is a publicly traded company on the NASDAQ under the symbol PPIH that specializes in the design, manufacture and installation of prefabricated piping systems. Its core business revolves around factory-assembled thermal insulation and corrosion protection solutions, including pre-insulated pipe, heat tracing, field-applied jackets and specialty spool pieces. These engineered systems are custom-built to industry specifications and are used to maintain temperatures, control heat loss and extend the life of critical piping infrastructure.

The company’s products and services serve a diverse range of end markets, with primary focus on oil and gas production, petrochemical processing, power generation, district energy, and industrial facilities.