Perma-Pipe International (NASDAQ:PPIH) Posts Quarterly Earnings Results

Perma-Pipe International (NASDAQ:PPIH) issued its quarterly earnings results on Thursday. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, FiscalAI reports. Perma-Pipe International had a return on equity of 18.12% and a net margin of 6.91%.The business had revenue of $55.13 million for the quarter.

Perma-Pipe International Stock Performance

Shares of Perma-Pipe International stock opened at $34.24 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.53 and a debt-to-equity ratio of 0.15. The company has a market cap of $277.00 million, a PE ratio of 20.14 and a beta of 0.57. The company has a 50 day moving average of $31.16 and a 200-day moving average of $29.30. Perma-Pipe International has a 1-year low of $11.22 and a 1-year high of $36.48.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. acquired a new stake in shares of Perma-Pipe International in the 4th quarter valued at $2,914,000. Royce & Associates LP bought a new stake in shares of Perma-Pipe International during the 3rd quarter worth $2,146,000. 683 Capital Management LLC bought a new stake in shares of Perma-Pipe International during the 4th quarter worth $1,122,000. Russell Investments Group Ltd. acquired a new stake in Perma-Pipe International in the third quarter valued at about $805,000. Finally, Millennium Management LLC boosted its stake in Perma-Pipe International by 265.1% in the fourth quarter. Millennium Management LLC now owns 42,780 shares of the industrial products company’s stock valued at $1,299,000 after buying an additional 31,064 shares in the last quarter. 28.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Perma-Pipe International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $36.00.

About Perma-Pipe International

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.