Perma-Pipe International (NASDAQ:PPIH) Stock Rating Upgraded by Wall Street Zen

Perma-Pipe International (NASDAQ:PPIH) was upgraded by Wall Street Zen from a “hold” rating to a “strong-buy” rating in a research note issued on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Perma-Pipe International in a research report on Monday, December 1st. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Perma-Pipe International Stock Up 11.3%

Shares of Perma-Pipe International stock opened at $32.59 on Friday. Perma-Pipe International has a 12-month low of $8.81 and a 12-month high of $36.48. The company has a quick ratio of 1.64, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average price of $26.55 and a two-hundred day moving average price of $24.80. The stock has a market capitalization of $263.65 million, a P/E ratio of 19.17 and a beta of 0.54.

Perma-Pipe International (NASDAQ:PPIH) last issued its quarterly earnings data 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 18.65%.

Institutional Trading of Perma-Pipe International

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its position 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 buying an additional 1,125 shares during the last quarter. U S Global Investors Inc. increased its stake in Perma-Pipe International by 400.0% during the third quarter. U S Global Investors Inc. now owns 5,000 shares of the industrial products company’s stock valued at $117,000 after acquiring an additional 4,000 shares during the period. IMS Capital Management acquired a new position in Perma-Pipe International in the 2nd quarter valued at approximately $201,000. Qube Research & Technologies Ltd acquired a new position in Perma-Pipe International in the 3rd quarter valued at approximately $208,000. Finally, Corsair Capital Management L.P. bought a new stake in shares of Perma-Pipe International in the 2nd quarter worth approximately $214,000. 28.43% of the stock is currently owned by institutional investors and hedge funds.

About Perma-Pipe International

Perma-Pipe International Holdings, Inc, together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers insulated and jacketed district heating and cooling piping systems for energy distribution from central energy plants to various locations; and primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, as well as engages in the coating and insulation of oil and gas gathering and transmission pipelines.