16,617 Shares in Perma-Pipe International Holdings, Inc. $PPIH Acquired by Evernest Financial Advisors LLC

Evernest Financial Advisors LLC acquired a new stake in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 16,617 shares of the industrial products company’s stock, valued at approximately $389,000.

Several other hedge funds have also added to or reduced their stakes in PPIH. Bank of America Corp DE increased its holdings in shares of Perma-Pipe International by 1,730.8% during the second quarter. Bank of America Corp DE now owns 1,190 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 1,125 shares in the last quarter. U S Global Investors Inc. boosted its stake in Perma-Pipe International by 400.0% in the 3rd quarter. U S Global Investors Inc. now owns 5,000 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 4,000 shares in the last quarter. Corsair Capital Management L.P. purchased a new stake in Perma-Pipe International during the 2nd quarter valued at about $214,000. Calamos Advisors LLC bought a new stake in Perma-Pipe International during the 3rd quarter valued at about $223,000. Finally, Citizens Financial Group Inc. RI purchased a new position in Perma-Pipe International in the third quarter worth about $234,000. 28.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Loop Capital set a $36.00 price target on shares of Perma-Pipe International in a report on Tuesday, December 16th. Wall Street Zen raised Perma-Pipe International from a “hold” rating to a “strong-buy” rating in a research report on Saturday, December 13th. Finally, Weiss Ratings raised Perma-Pipe International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Perma-Pipe International currently has a consensus rating of “Buy” and an average target price of $36.00.

Perma-Pipe International Stock Down 2.0%

Shares of Perma-Pipe International stock opened at $31.63 on Wednesday. Perma-Pipe International Holdings, Inc. has a twelve month low of $8.81 and a twelve month high of $36.48. The company has a quick ratio of 1.53, a current ratio of 1.76 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $31.60 and its 200 day moving average is $28.78. The company has a market cap of $255.89 million, a price-to-earnings ratio of 18.61 and a beta of 0.49.

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

Perma-Pipe International Company Profile

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.