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

Shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) crossed 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 trading hands.

Wall Street Analysts Forecast Growth

PPIH has been the subject of several research reports. Freedom Broker raised their target price on Perma-Pipe International from $29.55 to $38.00 and gave the company a “buy” rating in a research note on Friday, September 11th. Weiss Ratings upgraded shares of Perma-Pipe International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, November 2nd. Two equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $37.00.

Perma-Pipe International Trading Down 1.9%

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.92 and a current ratio of 2.19. The firm has a market capitalization of $237.55 million, a P/E ratio of 12.41 and a beta of 0.63. The firm has a 50 day moving average price of $29.91 and a two-hundred day moving average price of $29.44.

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

Institutional Trading of Perma-Pipe International

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Perma-Pipe International in the second quarter worth approximately $11,557,000. Bank of New York Mellon Corp acquired a new stake in shares of Perma-Pipe International during the second quarter valued at approximately $581,000. Meros Investment Management LP acquired a new stake in shares of Perma-Pipe International during the second quarter valued at approximately $3,598,798. Renaissance Technologies LLC lifted its position in shares of Perma-Pipe International by 39.1% in the 1st quarter. Renaissance Technologies LLC now owns 209,093 shares of the industrial products company’s stock valued at $6,233,000 after acquiring an additional 58,800 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Perma-Pipe International in the 1st quarter valued at approximately $1,265,000. 28.43% of the stock is owned by hedge funds and other 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.