Perma-Pipe International (NASDAQ:PPIH) Downgraded by Wall Street Zen to Hold

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

Perma-Pipe International Trading Up 4.4%

Shares of PPIH stock opened at $23.84 on Friday. The stock’s fifty day moving average is $26.66 and its two-hundred day moving average is $19.07. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 1.88. The firm has a market capitalization of $192.87 million, a P/E ratio of 19.23 and a beta of 0.54. Perma-Pipe International has a fifty-two week low of $8.81 and a fifty-two week high of $33.09.

Perma-Pipe International (NASDAQ:PPIH) last posted its quarterly earnings results on Monday, September 15th. The industrial products company reported $0.10 EPS for the quarter. Perma-Pipe International had a return on equity of 13.92% and a net margin of 5.55%.The business had revenue of $47.90 million for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in shares of Perma-Pipe International by 1,730.8% during the 2nd quarter. Bank of America Corp DE now owns 1,190 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 1,125 shares during the period. State of Wyoming purchased a new position in shares of Perma-Pipe International during the 4th quarter worth $77,000. Lazard Asset Management LLC purchased a new position in shares of Perma-Pipe International during the 4th quarter worth $113,000. Jane Street Group LLC purchased a new position in shares of Perma-Pipe International during the 4th quarter worth $178,000. Finally, IMS Capital Management purchased a new position in shares of Perma-Pipe International during the 2nd quarter worth $201,000. Hedge funds and other institutional investors own 28.43% of the company’s stock.

Perma-Pipe International Company Profile

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.