Northwest Pipe (NASDAQ:NWPX) Stock Rating Lowered by Northland Securities

Northwest Pipe (NASDAQ:NWPX) was downgraded by equities researchers at Northland Securities from an “outperform” rating to a “market perform” rating in a report released on Friday, MarketBeat Ratings reports. They currently have a $50.00 price objective on the industrial products company’s stock. Northland Securities’ price objective indicates a potential upside of 3.69% from the stock’s previous close.

Separately, StockNews.com cut shares of Northwest Pipe from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

Northwest Pipe Stock Up 7.4 %

Shares of NWPX opened at $48.22 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.06 and a quick ratio of 2.19. The stock has a market capitalization of $478.34 million, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 3.04 and a beta of 0.98. Northwest Pipe has a 1 year low of $25.67 and a 1 year high of $48.32. The business’s 50 day simple moving average is $43.80 and its 200-day simple moving average is $38.40.

Northwest Pipe (NASDAQ:NWPX) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.19. Northwest Pipe had a net margin of 6.12% and a return on equity of 8.57%. The company had revenue of $129.51 million for the quarter, compared to the consensus estimate of $119.76 million. As a group, equities analysts expect that Northwest Pipe will post 2.96 earnings per share for the current fiscal year.

Insider Activity at Northwest Pipe

In other news, EVP Miles Brittain sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $41.90, for a total value of $188,550.00. Following the completion of the sale, the executive vice president now owns 25,858 shares in the company, valued at approximately $1,083,450.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Miles Brittain sold 4,500 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $41.90, for a total value of $188,550.00. Following the sale, the executive vice president now directly owns 25,858 shares in the company, valued at approximately $1,083,450.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Megan A. Kendrick sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $44.22, for a total value of $44,220.00. Following the sale, the vice president now directly owns 9,725 shares of the company’s stock, valued at $430,039.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,500 shares of company stock worth $275,140. Company insiders own 3.30% of the company’s stock.

Institutional Trading of Northwest Pipe

A number of large investors have recently made changes to their positions in NWPX. Covestor Ltd lifted its holdings in Northwest Pipe by 1,857.6% during the 3rd quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock valued at $29,000 after buying an additional 613 shares in the last quarter. Summit Global Investments bought a new position in Northwest Pipe in the 3rd quarter worth about $262,000. Janney Montgomery Scott LLC increased its position in shares of Northwest Pipe by 3.1% during the third quarter. Janney Montgomery Scott LLC now owns 18,147 shares of the industrial products company’s stock worth $819,000 after acquiring an additional 549 shares during the period. Semanteon Capital Management LP bought a new stake in shares of Northwest Pipe during the third quarter valued at approximately $230,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Northwest Pipe by 7.5% in the third quarter. Assenagon Asset Management S.A. now owns 53,084 shares of the industrial products company’s stock valued at $2,396,000 after purchasing an additional 3,718 shares during the period. 80.63% of the stock is owned by hedge funds and other institutional investors.

Northwest Pipe Company Profile

Northwest Pipe Company, together with its subsidiaries, engages in the manufacture and supply of water-related infrastructure products in North America. It operates in two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment offers large-diameter and high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems.