Perma-Pipe International (NASDAQ:PPIH) Stock Breaks Above Two Hundred Day Moving Average – Time to Sell?

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $29.45 and traded as high as $30.11. Perma-Pipe International shares last traded at $29.65, with a volume of 49,615 shares.

Wall Street Analyst Weigh In

Several analysts have weighed in on PPIH shares. Freedom Broker raised their price target on Perma-Pipe International from $29.55 to $38.00 and gave the company a “buy” rating in a report on Friday, September 11th. Weiss Ratings raised Perma-Pipe International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, November 2nd. Two analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $37.00.

Perma-Pipe International Price Performance

The firm has a market cap of $243.13 million, a P/E ratio of 15.61 and a beta of 0.63. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.19 and a quick ratio of 1.92. The firm’s 50 day moving average is $29.83 and its 200 day moving average is $29.45.

Perma-Pipe International (NASDAQ:PPIH) last announced its quarterly earnings data on Wednesday, September 9th. The industrial products company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.24). The firm had revenue of $59.57 million for the quarter, compared to analysts’ expectations of $51.20 million. Perma-Pipe International had a net margin of 6.89% and a return on equity of 21.58%.

Institutional Trading of Perma-Pipe International

Large investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its holdings in Perma-Pipe International by 420.5% in the third quarter. Parallel Advisors LLC now owns 1,369 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 1,106 shares during the period. Fortitude Family Office LLC bought a new stake in shares of Perma-Pipe International during the 3rd quarter valued at about $46,000. Farther Finance Advisors LLC grew its stake in shares of Perma-Pipe International by 1,544.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,644 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 1,544 shares during the period. State of Wyoming grew its stake in shares of Perma-Pipe International by 62.7% during the 1st quarter. State of Wyoming now owns 3,421 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 1,319 shares during the period. Finally, Deutsche Bank AG purchased a new stake in shares of Perma-Pipe International during the 2nd quarter valued at about $202,000. 28.43% of the stock is currently owned by institutional investors.

About Perma-Pipe International

Perma-Pipe International Holdings, Inc (NASDAQ:PPIH) develops and manufactures engineered piping and leak-detection systems for infrastructure and industrial applications. Its products are designed to transport and protect fluids in systems that require thermal insulation, corrosion protection, or monitoring for leaks.

The company’s offerings include pre-insulated piping systems for district heating and cooling, oil and gas gathering and production, chemical processing, water and wastewater, and other industrial uses.