Perma-Pipe International (NASDAQ:PPIH) Releases Earnings Results

Perma-Pipe International (NASDAQ:PPIH) issued its quarterly earnings data on Wednesday. The industrial products company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.24), FiscalAI reports. The firm had revenue of $59.57 million for the quarter, compared to the consensus estimate of $51.20 million. Perma-Pipe International had a net margin of 6.47% and a return on equity of 15.92%.

Perma-Pipe International Price Performance

Shares of NASDAQ PPIH opened at $29.11 on Wednesday. Perma-Pipe International has a 1 year low of $21.96 and a 1 year high of $36.72. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.31 and a quick ratio of 2.02. The company’s 50-day moving average is $26.04 and its 200 day moving average is $29.05. The stock has a market capitalization of $236.66 million, a P/E ratio of 17.22 and a beta of 0.59.

Institutional Trading of Perma-Pipe International

Several large investors have recently bought and sold shares of PPIH. Bank of America Corp DE boosted its position in 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 valued at $27,000 after acquiring an additional 1,125 shares in the last quarter. State of Wyoming lifted its stake in shares of Perma-Pipe International by 59.7% in the 4th quarter. State of Wyoming now owns 2,102 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 786 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Perma-Pipe International during the third quarter valued at approximately $208,000. Quadrature Capital Ltd bought a new stake in shares of Perma-Pipe International during the fourth quarter valued at approximately $212,000. Finally, Jane Street Group LLC boosted its position in shares of Perma-Pipe International by 55.2% during the first quarter. Jane Street Group LLC now owns 18,505 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 6,583 shares in the last quarter. 28.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Perma-Pipe International in a research report on Friday, August 14th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $36.00.

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.