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

Perma-Pipe International (NASDAQ:PPIH) announced its quarterly earnings results on Wednesday. The industrial products company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.24), FiscalAI reports. The firm had revenue of $59.57 million during the quarter, compared to analysts’ expectations 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 Stock Performance

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State of Wyoming lifted its holdings in shares of Perma-Pipe International by 59.7% during the 4th quarter. State of Wyoming now owns 2,102 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 786 shares during the period. Bank of America Corp DE increased its position in Perma-Pipe International by 1,730.8% during the second quarter. Bank of America Corp DE now owns 1,190 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 1,125 shares during the last quarter. Empowered Funds LLC increased its position in Perma-Pipe International by 8.8% during the first quarter. Empowered Funds LLC now owns 20,101 shares of the industrial products company’s stock worth $250,000 after purchasing an additional 1,626 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Perma-Pipe International by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 478,988 shares of the industrial products company’s stock worth $11,222,000 after purchasing an additional 2,463 shares during the period. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Perma-Pipe International by 4.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 64,769 shares of the industrial products company’s stock valued at $1,966,000 after purchasing an additional 2,682 shares during the last quarter. Institutional investors and hedge funds own 28.43% of the company’s stock.

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.