Perma-Pipe International (NASDAQ:PPIH) Issues Earnings Results, Misses Estimates By $0.26 EPS

Perma-Pipe International (NASDAQ:PPIH) posted its quarterly earnings results on Tuesday. The industrial products company reported $0.22 EPS 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 company had revenue of $50.27 million for the quarter, compared to analysts’ expectations of $54.00 million.

Perma-Pipe International Stock Up 0.4%

Perma-Pipe International stock opened at $31.27 on Tuesday. The company has a market capitalization of $253.91 million, a PE ratio of 15.03 and a beta of 0.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 1.84. Perma-Pipe International has a fifty-two week low of $14.22 and a fifty-two week high of $36.72. The firm has a 50 day moving average price of $31.86 and a 200 day moving average price of $30.83.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Perma-Pipe International

Institutional investors and hedge funds have recently modified their holdings of the company. Graham Capital Management L.P. acquired a new position in shares of Perma-Pipe International in the fourth quarter valued at approximately $268,000. OMERS ADMINISTRATION Corp acquired a new stake in Perma-Pipe International during the 4th quarter worth approximately $425,000. Hudson Bay Capital Management LP acquired a new stake in Perma-Pipe International during the 4th quarter worth approximately $363,000. Dynamic Technology Lab Private Ltd purchased a new position in Perma-Pipe International in the 4th quarter valued at approximately $234,000. Finally, Wolverine Trading LLC purchased a new position in Perma-Pipe International in the 3rd quarter valued at approximately $354,000. Hedge funds and other 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.