Perma-Pipe International (NASDAQ:PPIH) Releases Quarterly Earnings Results, Misses Expectations By $0.26 EPS

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

Perma-Pipe International Price Performance

Shares of PPIH opened at $25.27 on Wednesday. Perma-Pipe International has a 12-month low of $14.26 and a 12-month high of $36.72. The business has a 50-day simple moving average of $31.78 and a two-hundred day simple moving average of $30.85. The company has a quick ratio of 1.61, a current ratio of 1.84 and a debt-to-equity ratio of 0.05. The stock has a market cap of $205.19 million, a PE ratio of 12.15 and a beta of 0.54.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PPIH shares. Weiss Ratings downgraded Perma-Pipe International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 19th. Wall Street Zen downgraded Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a research report on Saturday, April 18th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $36.00.

Hedge Funds Weigh In On Perma-Pipe International

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased 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 worth $27,000 after purchasing an additional 1,125 shares in the last quarter. State of Wyoming increased its holdings in Perma-Pipe International by 59.7% in 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 in the last quarter. Qube Research & Technologies Ltd acquired a new position in Perma-Pipe International in the 3rd quarter worth about $208,000. Quadrature Capital Ltd acquired a new position in Perma-Pipe International in the 4th quarter worth about $212,000. Finally, Jane Street Group LLC increased its holdings in Perma-Pipe International by 55.2% in the 1st quarter. Jane Street Group LLC now owns 18,505 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 6,583 shares in the last quarter. Institutional investors and hedge funds 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.