Cannell Capital LLC Purchases 27,259 Shares of Perma-Pipe International Holdings, Inc. $PPIH

Cannell Capital LLC lifted its position in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) by 29.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,170 shares of the industrial products company’s stock after purchasing an additional 27,259 shares during the quarter. Cannell Capital LLC owned about 1.50% of Perma-Pipe International worth $2,839,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PPIH. Empowered Funds LLC raised its holdings in Perma-Pipe International by 8.8% in 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 in the last quarter. Jane Street Group LLC boosted its holdings in shares of Perma-Pipe International by 55.2% during the 1st quarter. Jane Street Group LLC now owns 18,505 shares of the industrial products company’s stock valued at $230,000 after buying an additional 6,583 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Perma-Pipe International by 32.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,225 shares of the industrial products company’s stock worth $531,000 after buying an additional 5,696 shares during the period. Truffle Hound Capital LLC purchased a new stake in shares of Perma-Pipe International in the 2nd quarter worth about $938,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Perma-Pipe International in the 2nd quarter worth about $279,000. 28.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wall Street Zen raised shares of Perma-Pipe International from a “hold” rating to a “strong-buy” rating in a research report on Saturday, December 13th. Loop Capital set a $36.00 target price on shares of Perma-Pipe International in a research note on Tuesday, December 16th. Finally, Weiss Ratings upgraded shares of Perma-Pipe International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Perma-Pipe International has an average rating of “Buy” and an average price target of $36.00.

Perma-Pipe International Trading Up 0.3%

Perma-Pipe International stock opened at $28.11 on Friday. Perma-Pipe International Holdings, Inc. has a one year low of $8.81 and a one year high of $36.48. The business’s fifty day moving average is $31.26 and its 200 day moving average is $28.82. The stock has a market capitalization of $227.41 million, a PE ratio of 16.54 and a beta of 0.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.76 and a quick ratio of 1.53.

Perma-Pipe International (NASDAQ:PPIH) last issued its earnings results on Friday, December 12th. The industrial products company reported $0.77 earnings per share for the quarter. The business had revenue of $61.15 million during the quarter. Perma-Pipe International had a return on equity of 18.12% and a net margin of 6.91%.

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.