Perma-Pipe International (NASDAQ:PPIH) Issues Earnings Results

Perma-Pipe International (NASDAQ:PPIH) released its quarterly earnings data on Tuesday. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.26), FiscalAI reports. The business had revenue of $50.27 million during the quarter, compared to analysts’ expectations of $54.00 million. Perma-Pipe International had a return on equity of 20.37% and a net margin of 8.08%.

Perma-Pipe International Stock Performance

NASDAQ:PPIH opened at $31.27 on Tuesday. The firm has a market cap of $253.91 million, a price-to-earnings ratio of 15.03 and a beta of 0.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.84 and a quick ratio of 1.61. Perma-Pipe International has a 1-year low of $14.22 and a 1-year high of $36.72. The firm’s fifty day moving average price is $31.86 and its 200 day moving average price is $30.83.

Analysts Set New Price Targets

PPIH has been the topic of a number of research analyst reports. Wall Street Zen lowered Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a research report on Saturday, April 18th. Weiss Ratings lowered shares of Perma-Pipe International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PPIH. Bank of America Corp DE grew its holdings in Perma-Pipe International by 1,730.8% in the 2nd quarter. Bank of America Corp DE now owns 1,190 shares of the industrial products company’s stock valued at $27,000 after buying an additional 1,125 shares during the last quarter. State of Wyoming raised its position in Perma-Pipe International by 59.7% during the 4th quarter. State of Wyoming now owns 2,102 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 786 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in Perma-Pipe International during the 3rd quarter valued at about $208,000. Quadrature Capital Ltd bought a new stake in Perma-Pipe International during the 4th quarter valued at $212,000. Finally, Jane Street Group LLC grew its position in Perma-Pipe International by 55.2% in the first quarter. Jane Street Group LLC now owns 18,505 shares of the industrial products company’s stock worth $230,000 after acquiring an additional 6,583 shares in the last quarter. Institutional investors own 28.43% of the company’s stock.

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.